The World Bank, & Development Research Center of the State Council, the People’s Republic of China. China 2030: Building a modern, harmonious, and creative high-income society. The World Bank, Washington, 2012. Pages: 448.

This report, released at the end of February 2012, outlines specific steps to deal with the risks facing China over the next 20 years. The research behind the recommendations was conducted by a joint research team with experts from the World Bank and China. This marks the first time that this kind of cooperative research has been conducted by these two bodies.

Six strategic directions for China’s new development strategy are suggested by the report’s authors, with the second recommended focus area specifically targeting innovation and the creation of an open innovation system with links to global research and development networks. Some of the key proposed actions include:

• accelerating the pace of innovation and creating an open innovation system;
• encouraging Chinese firms to engage in product and process innovation not only through their own research and development but also by participating in global research and development networks;
• continuing to support the initiatives already in place aimed at establishing the country’s research and development infrastructure;
• increasing the quality of research and development, rather than just quantity;
• increasing the technical and cognitive skills of university graduates;
• building a few world-class research universities with strong links to industry; and
• fostering ‘innovative cities’ that bring together high-quality talent, knowledge networks, dynamic firms, and learning institutions, and allowing them to interact without restriction.

The World Bank