On October 25, the National Bureau of Statistics released new figures indicating that China’s innovation index reached 165.3 in 2023 (with 2015 as the baseline of 100), showing a 6.0% increase from the previous year. The data reveals noteworthy growth across various sectors: the innovation environment index stood at 177.1, reflecting a 10.4% rise; the innovation input index reached 155.0, marking a 5.5% increase; the innovation output index hit 199.7, up by 6.5%; and the innovation performance index was at 129.4, seeing a modest 0.4% growth. These results underscore a continuous enhancement of China’s innovative capabilities, which is a strong foundation for high-quality development.

In the realm of innovation environment, the proportion of companies benefiting from additional tax deductions grew by 24.0% compared to last year. When it comes to innovation input, there was a 14.1% year-on-year increase in the full-time equivalent of R&D personnel per 10,000 people, indicating sustained double-digit growth. In terms of innovation output, the number of high-value invention patents per 10,000 R&D personnel rose by 15.6% from the previous year. Lastly, regarding innovation performance, the index for overall labor productivity increased by 5.7%.

What does this data suggest about China’s ongoing commitment to innovation?