China Moves Up to 18th in 2015 National Innovation Index Rankings


The National Innovation Index Report 2015 was issued by the Chinese Academy of Science and Technology for Development (CASTED) on 29 June 2016.
The 2015 index ranked the innovation performance of 40 countries, whose spending in research and development accounts for over 97% of the world's total. The top 10 in the ranking of the year were the US, Japan, Switzerland, South Korea, Denmark, Germany, Sweden, the UK, the Netherlands, and Singapore.  
China was ranked 18th this year, moving up one place from the previous year. In terms of the five main indicators that contributed to the overall ranking, China saw improvement from the previous year in innovation resources, knowledge creation, and enterprise innovation, whereas its innovation performance remained steady and innovation environment slipped compared with the previous year. According to the report, the weaker performance in innovation environment reflected the need to improve accessibility of venture capital for enterprise innovation and IP protection relative to the increased demand for both as a result of the growing recognition of the importance of IP in the country.
The innovation index drew data from sources including National Bureau of Statistics and Ministry of Science and Technology of China, as well as the World Bank, Organisation for Economic Co-operation and Development, World Intellectual Property Organization, and World Economic Forum.