The Current Tendencies and Prospects of Innovative Development of Anhui Province as a Strategically Important Region of China

• Published in: Bìznes ìnform (Multilingual ed.) Vol. 10; no. 489; pp. 75 - 81
• Main Author: Chelombitko Tetiana V.
• Format: Journal Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 01.10.2018
• Subjects: Anhui Province; development zones of Anhui Province; innovative development; innovative economy of China; investments
• ISSN: 2222-4459; 2311-116X

The article is aimed at defining the current tendencies and prospects of innovative development of Anhui Province as one of the leading regions of China, basing on critical analysis of quantitative socio-economic indicators of the province’s economy. It is substantiated that China’s economic progress largely depends on the sphere of innovation, namely, the innovative achievements of each individual region of China. Anhui Province is a strategically important region with rich resources and a high level of economic development. It is determined that with the purpose of development of new industry of innovative type in province active introduction of the newest technologies in traditional production is carried out, financing of educational institutions and centers of scientific research is provided, the interaction between the industrial and research industries is intensified. It is determined that the policy of local authorities on attraction of investments and deepening of international cooperation are important components of innovative success of Anhui Province, that is the source of foreign capital, foreign technologies and qualified scientific personnel. The main regional problems constraining innovation achievements are also identified, and the main directions of development are allocated, which will provide an opportunity to increase the activity level of Anhui Province innovation activity.