Innovation and Technology Ecosystem: Historical Perspectives

Although this book is mainly covering on post COVID-19 technology development, we need to understand the historical perspective of Chinese investment in science and technology over last couple of decades. The Chinese government has placed emphasis through funding, reform and societal status on science and technology as a fundamental part of the socioeconomic development of the country as well as for national prestige. The twenty-first century has thus seen a series of central government initiatives designed to promote “indigenous innovation” and technological development more generally in China. These include the National Medium- and Long-Term Program for Science and Technology Development (2006–2020), the Strategic Emerging Industries initiative, the Internet Plus initiative and the Made in China 2025 Program, among others. Today, China’s science investment is largest in the world. Thus, China has developed an innovation and technology ecosystem, which has been nurtured by COVID-19, and further growth is expected in different existing as well as new technologies and its application in different ways. This chapter will throw light on the historical perspectives, while keeping in mind the future growth strategy.