China Moves up 3 Spots to No. 22 in 2017 Global Innovation Index

 
The 2017 Global Innovation Index (GII) report has been jointly released by the World Intellectual Property Organization (WIPO), Cornell University, and INSEAD. According to the 2017 GII, Switzerland continued to be the world's top innovator, a position it has held for the seventh consecutive year, whereas the economies that ranked second to tenth on the 2017 GII were Sweden, the Netherlands, the US, the UK, Denmark, Singapore, Finland, Germany, and Ireland. 

In Asia, China, after entering the 25 most innovative economies as per the 2016 GII, continued moving ahead, this year by three spots to top 22nd. Compared with the previous year, China saw improvement in GII's five pillar indicators out of seven, namely, institutions; human capital and research; infrastructure; knowledge and technology outputs; and creative outputs. Other Asian economies also on the top 25 list were Singapore (ranked No. 7), Republic of Korea (No. 11), Japan (No. 14), and Hong Kong (No. 16).

The GII, now in its tenth edition, recognises the key role of innovation as a driver of economic growth and prosperity. It ranks on annual basis innovation capabilities and results of some 130 economies using 80-plus indicators, and provides profiles including data, strength, and weakness analysis of respective economies.