Liu Zhiqin, a senior fellow at the Chongyang Institute for Financial Studies of Renmin University of China, was interviewed by CCTV China NEWS HOUR program on innovative growth on Sep.7th.
Q. Do you think the innovation would be remedy to solve the problems of the economy?
A.Industrialization and innovation are two dominating words discussed at the G20 meeting. Industrialization is essential for the public to know. As Xi said, the effect of the old revolution is not coming to the end, while the new revolution is still waiting. In this way, there is a time gap in the development of the industrialization, and new measures and policies needed to boost new industrialization.
Information technology revolution is characterized as to make the new industrialization forward. During the G20 meeting, Xi also announced digital economy will be the major force to lead the industrialization. All the country should pay full attention to support this process.
Q. How do you think of the blueprint of innovation?
A. Innovation is not new as a concept, and it appeared in the public about five years ago. But now we should not only talk about the definition of the innovation, but also take actions to realize it. Now G20 is no more a talking show club, but an action club.
Innovation included policy making and high-end technology such as the information technology or internet technology. Especially in China, environmental technology and new energy technology innovation are included. Innovation is not easily or physically to change the form of products, and it should from the nature to increase and improve the people’s life, modernize the society and realize the industrialization. So innovation is one part of industrialization, and country‘s industrialization will boost the innovation process. Both are the two wings of the development.