Measurement of Innovation in the Core Industry of China's Digital Economy: A Text-based Approach

With the fourth wave of industrial revolution, the ability to innovate in digital field has become the bottom support of competitive game between countries.This paper focuses on the innovation of the core industry of Chinese digital economy, utilizes the analyst reports of the top 100 enterprises in electronic information industry listed in A-shares, examines the basic characteristics and trends in development of overall innovation and types of China's digital economy by the method of text information mining.Results show that overall innovation of the core industries is currently experiencing rapid progress, many subfields original innovations burst out.Besides, industries incremental innovations and integration of self-developed disruptive technologies has achieved a sense of "curve overtaking".The method of measuring innovation based on text information is a new breakthrough in methodology, which overcomes the limitations of traditional methods, makes up for the technical omissions in measuring unpublished patents or R&D companies.