China Ranked 22nd in Bloomberg's Global Innovation Index 2015
Bloomberg recently released the results of its Global Innovation Index 2015, which identified the top 50 from more than 200 countries according to their overall ability to innovate based on six equally weighted measures*, namely, R&D, manufacturing capability, high-tech companies, postsecondary education, research personnel, and patents.
At top of this year's ranking was South Korea, followed by Japan, Germany, Finland, Israel, the US, Sweden, Singapore, France, and the UK.
In terms of the sub-indexes, the top 5 by R&D are South Korea, Israel, Finland, Sweden, and Japan; by manufacturing capability are Switzerland, Ireland, Singapore, Germany, and Austria; by high-tech companies are US, China, Japan, South Korea, and Canada; by postsecondary education are South Korea, Russia, Finland, Israel, and Ukraine; by research personnel are Finland, Iceland, Denmark, Israel, and Singapore; and by patents are South Korea, Japan, China, US, and Germany.
China was placed in the 22nd position in the overall ranking, whereas according to the sub-indexes, it was 2nd by high-tech companies, 3rd by patents; 18th by R&D, 40th by manufacturing capability; 44th by research personnel; and 48th by postsecondary education.
* Details of the six measures are:
i) R&D - research and development expenditure as a percentage of GDP
ii) Manufacturing capability - manufacturing value-added per capita
iii) High-tech companies - number of domestically domiciled high-tech public companies as a share of world's total high-tech public companies
iv) Postsecondary education - percentage of secondary graduates entering higher institutions; percentage of labor force with tertiary degrees; annual science and engineering graduates as a percentage of the labor force and as a percentage of total tertiary graduates
v) Research personnel - number of professionals engaged in R&D
vi) Patents - Resident utility patent filings per 1 million residents and per $1 million of R&D spent, as well as patents granted as a percentage of the world total