China's remarkable rise over the past 20 years from a regional power to a global one is a good model for emerging nations hoping to achieve socio-economic development.
The East Asian country's achievements can be attributed to its strategic planning, significant investments in R&D and education, and a strong culture of innovation that spans multiple industries.
China realized that the production and export of high-tech, high-value goods was essential to the country's socio-economic progress, and its financial assistance to public and private R&D organizations strengthened this strategic objective.
The country increased its R&D investment by 18% annually between 2000 and 2022, surpassing the United States in innovation in 2020 and dominating the world in the number of international patents filed annually.
An important factor in fostering innovation and accelerating economic growth was the Sino-Foreign Cooperative Education (SPARC) program, which provided funding for R&D and the establishment of new businesses, increasing productivity and competitiveness in a variety of industries.
The program focused on major technologies such as information technology, biotechnology, manufacturing, nanotechnology, energy and space engineering. By providing funding for cooperative research projects with foreign universities and companies, the program promoted global cooperation, strengthening ties, transferring technology and exchanging knowledge between China and other countries.
China has created a comprehensive legal framework covering technology transfer, patent legislation and intellectual property protection. It was adopted in 1984 and amended in 1990, as well as administrative measures for national science and technology programs, which were renewed in 2019.
In addition, China has launched several programs focused on science and technology, and its capacity to produce and sell high-tech items has increased greatly thanks to this influx of highly skilled and technically qualified labor.
The Asian country also launched a series of initiatives to support higher education that enabled it to move from a predominantly agrarian economy to a strong and technologically advanced knowledge economy.
Developing countries can learn a lot from China's rapid socio-economic progress. It is essential to adopt a two-pronged approach that emphasizes science, technology, education and research as the main pillars of sustainable and fair socio-economic growth. Countries like Pakistan can accelerate their development and prosperity by following China's example.
