Abstract

As the world economy emerges from the global financial crisis of 2008, global growth, investment exports, consumption and other traditional driving forces of expansion are still at a stand-still or declining. It is becoming increasingly evident that a full recovery and strong economic growth in the future depend on scientific and technology innovation. Today the world is embarking on a new round of scientific, technological and industrial transformation, and that this “fourth industrial revolution ” will deeply impact all aspects of society.

Experts predict that world output will shift from mass-production to a new stage of mass- customization. The digital platform economy with networking and flattening enterprises are already becoming a new trend, and synergy and integration between different disciplines are becoming more common. Such integration of different technologies will lead to many tangible achievements that, until recently, were the stuff of science fiction. With technology and innovation at a tipping point, international competition is likely to accelerate, as companies seek to profit from an eventual return to increased productivity and economic growth.

Since the eighteenth National Congress of the Communist Party of China in 2012, Chinese President Xi Jinping has delivered a series of important speeches on innovation in science and technology. He has consistently pointed out that technological breakthroughs are transforming industry and having a decisive impact on the global economy. He has stressed the link between the revolution in science and technology, and the future of economic and social development in each country. Xi’s statements make it clear that China welcomes the arrival of the fourth industrial revolution and is focused on industrial restructuring and upgrading. The formulation and implementation of the Chinese government’s thirteenth five-year plan (2016-2020) demonstrates that China is moving toward supply-side structural reform to help pave the way for a new industrial era. This transformation will depend on the continuous promotion of innovation and exploration in science and technology, while future breakthroughs will promote new business models to enhance competitive advantage.

A significant breakthrough in technological innovation and creative application often brings with it new tools and new methods. It can also bring major changes that affect human development, as along with world political, economic and social patterns.