Norwegian Scholar: Innovation Driving High-Quality Economic Growth in China

Beijing - Carl Fey, professor of strategy at BI Norwegian Business School, recently praised China's achievements in technological innovation and emphasized the crucial role of innovation in China's pursuit of high-quality development during an interview with Guangming Online.

Carl Fey pointed out that innovation is critical for Chinese companies and China as a country. In order to meet people's aspirations for a better life and raise the income levels of employees, Chinese companies must increase the added value of their products, which requires continuous technological innovation.

China's innovation journey has been nothing short of remarkable, according to Carl Fey. A decade ago, the country ranked 35th in the Global Innovation Index. However, in the past year, it surged to the eleventh position, showcasing significant improvement. Now, China places greater emphasis on high-quality economic growth, which Carl Fey believes signifies China's desire to transition from being the "world's factory" to the "world's innovation factory”. This transition requires the development of intellectual property, advanced technologies, and sophisticated products.

Carl Fey highlighted that the key to providing a talent base for high-quality growth lies in education. Creating an educational environment that fosters creative thinking and diverse problem-solving approaches is essential for nurturing innovative talents. Fey recognized China's efforts in reforming K-12 education and expressed optimism for further improvements. He stated, "As China places a greater emphasis on high-quality growth, which relies on innovation, creative thinking becomes even more crucial."