China’s innovation financing system: Triple Helix policy perspectives

Abstract

The purpose of this study is to examine the innovation financing system of China from a Triple Helix policy perspective. The analysis comparing the case with the USA, the world’s most innovative economy, provides interesting insights regarding the innovative performance of China. The study shows that while the Chinese government introduced many intervention policy initiatives after the country joined the World Trade Organization (WTO), a comparative study with the US model has shown the development of an innovation system through market mechanism with strong Triple Helix interactions in its industrial clusters. The study provides lessons and insights that are useful for other emerging economies to use as policy guidelines in strengthening their innovation financing systems.

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