GENEVA — The first-ever middle-income country to join the world’s top 25 innovative economies in 2016, China this year continues moving ahead on the list by three notches, displaying a strong performance in several indicators, according to the latest Global Innovation Index (GII) released on June 15.
Ranking 22 on the GII this year, China again becomes the only exception in the top 25 of the innovation list, with the rest 24 all being high-income economies.
A closer look into the general index shows that China moves up one spot to the 16th position in innovation quality, retaining its position for the fifth consecutive year as the top middle-income economy and getting closer to high-income economies.
This movement can be attributed to a number of strong indicators, including domestic market scale, knowledge workers, patents by origin, high-tech exports, and industrial designs by origin, all of which top their sub-rankings.
European countries take eight places out of the top 10, with Switzerland remaining its No 1 position in the GII for the seventh consecutive year. It’s followed by Sweden and Netherlands, the latter having leaped from the ninth last year to the third in 2017. The United States remains at the fourth, followed by the UK and Denmark, the rest in top 10 being Singapore, Finland, Germany and Ireland.
The GII findings also reveal a large gap between high-income and middle-income economies, and without China, the difference in average scores between these two groups is expanding in many indicators.
Overall, the top 10 on the GII perform better than the 11-25 group in all seven pillars of indicators: institutions, creative outputs, knowledge and technology outputs, business sophistication, market sophistication, infrastructure, and human capital and research.