Innovative Vector of Economic Development of China

In a short period of time, China has become one of the world's leading innovation centers. This is its phenomenon. A review of scientific publications has led to the conclusion that the accelerated transition to an innovation model is due to economic policy and government support. The upward track of the scientific and technological development in China is evidenced by continuous intensive R&D investments. Their growth rates exceed those in the USA and EU. The core of the national innovation system is the state and small and medium-sized businesses, whose share in the gross domestic product is 60-70%. According to the International Intellectual Property Organization (WIPO), China is significantly ahead of all countries in the world in the number of accepted patent applications, registered trademarks and design developments in the world, and by 2030 the country will take the 1st place in the world in terms of high-tech products export share. The article is devoted to the Chinese experience of transition to an innovative model of economic development.