ABSTRACT
Innovation-driven development is the core element of China’s new development concepts and is at the top of the five development concepts of “innovation, coordination, green development, opening up, and sharing”. Innovation-driven development means that innovation becomes the primary impetus for development, and scientific and technological innovation combines with institutional innovation, administration innovation, commercial mode innovation, format innovation, and cultural innovation, facilitating the transition of development mode to ongoing accumulation of knowledge, technological progress and improvement of labour force quality, and promoting the economy to progress to the stage of more advanced form, more delicate division of labour and more reasonable structure. 1
