Abstract In his government work report this year, Premier Li Keqiang proposed that economic development goals should be achieved without slowing down, improving quality and increasing efficiency. Comprehensive innovation will play a more prominent role in leading China's development trend and improving economic quality and efficiency. Since the reform and opening up, China's economy has developed rapidly...
In this year's government work report, Premier Li Keqiang proposed that economic development goals should be achieved without slowing down, improving quality and increasing efficiency. Comprehensive innovation will play a more prominent role in leading China's development trend and improving economic quality and efficiency.

Since the reform and opening up, China's economy has developed rapidly. The economic aggregate has leapt to the second place in the world, maintaining economic growth of more than 9% with an average growth rate of more than 30 years. It has become the world's largest producer of industrial products and the largest trader of goods. Various new achievements, new situations, new problems and new challenges have never been seen in the course of China's economic development. At present, China's economic development has entered a new normal, and it has entered a new stage of paying more attention to the growth of quality and efficiency. It is also in line with the development characteristics of the Chinese economy, "new day, new day, new day and new".

The neoclassical growth theory in western economics attributes the source of economic growth to the three major input factors of capital, labor and technological progress. Among them, technological progress is the key to improving the quality and efficiency of economic growth. To understand the new normal, adapt to the new normal, and lead the new normal, we must reinvent the new and inject new vitality into economic development. It can be said that comprehensive innovation will become the biggest driving force for China's economic development under the new normal.

Scientific and technological innovation will improve the input and output efficiency of various economic factors. The vitality of innovation in the Chinese economy is constantly emerging. According to the World Intellectual Property Organization data, between 2000 and 2012, the proportion of Chinese invention patent applications increased from 3.8% to 27.8%, and the contribution rate to global total growth reached 62%. China has become the world's largest market for many types of high-tech products such as personal computers, smart phones, and CNC machine tools. It is the basic consensus of many Chinese entrepreneurs to develop and attach great importance to R&D investment and continuous technological transformation. The contribution rate of scientific and technological progress to economic growth is close to 60%, and technological innovation has become a veritable primary productive force. Under the guidance of scientific and technological innovation, various economic factors will be continuously reconfigured to form higher output benefits.

Institutional innovation will create a market space for transformation and upgrading. The great development and prosperity of China's economy is the direct result of reform and opening up. The Third Plenary Session of the 18th CPC Central Committee proposed comprehensive reforms, implementing negative lists, establishing a free trade zone, facilitating the facilitation of the industrial and commercial registration system, and reducing the qualifications of enterprises, all of which brought positive response and investment from the market. The enthusiastic participation of the people. Breaking the barriers that limit the vitality of economic development has opened up a broader space for entrepreneurs' ingenuity, so that the sources of social wealth such as labor, knowledge, technology, management, and capital can fully flow.

Conceptual innovation will bring together the powerful entrepreneurial innovation vitality of market players. Mass entrepreneurship, innovation, and the innovation of the market in the market into a whole society of innovation, can not be separated from the innovation of understanding. Inspired by a series of reform measures, people's career choices and market concepts are gradually changing. In 2014, the number of newly registered enterprises nationwide reached 3.65 million, with an average daily increase of 10,000. The proportion of college graduates' self-employment has increased year after year, and a large number of entrepreneurial enterprises have been favored. The diversification of market concepts will promote employment diversification and entrepreneurial normalization. Each market entity and everyone will be more proactive in seeking opportunities for business, and more consciously improve their management and management, and become an active contributor to improve the efficiency of economic operations.

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