China Enters Top 25th in Global Innovation Index 2016

 
The 2016 Global Innovation Index (GII) report has been jointly released by the World Intellectual Property Organization (WIPO), Cornell University, and INSEAD. According to the report, the world's ten most innovative countries as per the 2016 GII were Switzerland, Sweden, the UK, the US, Finland, Singapore, Ireland, Denmark, the Netherlands, and Germany.  
 
The GII has been ranking world economies since 2007 based on their innovation capabilities and outcomes using 82 indicators including human capital development and research, development funding, university performance, and number of patent applications filed by residents. In this year's GII rankings, China made it to the top 25th among the 128 economies surveyed, which was an improvement of 4 spots from its 2015 position.
 
The entry of China as a middle-income country into the top 25th for the first time, according to the report, was a symbolic first step in closing the divide between developed and developing economies, as these spots had been typically occupied by high-income economies.