The World Intellectual Property Organisation (WIPO) has ranked China 11th among over 130 economies worldwide, climbing one spot from the previous year on the Global Innovation Index (GII) report for 2024. China is the only upper-middle-income economy to break into the top 30 while Switzerland, Sweden, the United States, Singapore and the United Kingdom are the world’s top-ranked innovative economies, according to the GII.
According to WIPO Director-General Daren Tang,
“technological progress remained strong in 2023, particularly in health-related fields like genome sequencing, as well as in computing power and electric batteries.”
“Technology adoption also deepened, especially in 5G, robotics, and electric vehicles. This year’s GII also reveals positive trends in key indicators, including a decline in global poverty and rises in labor productivity and life expectancy,” he added.
China is home to 26 of the world’s top 100 technology and innovation clusters, leading the world in this category, and holds the number one spot in eight out of 78 innovation indicators assessed by the index.
China’s advancements in the field of artificial intelligence (AI) are particularly remarkable. According to the International Data Corporation (IDC), China’s investment in AI has surpassed that of the United States, covering a range of applications including facial recognition and natural language processing. This has not only stimulated domestic economic growth but also captured the attention of the international community. The proliferation of 5G technology is another highlight of China’s technological innovation.
Companies like Huawei and ZTE are at the global forefront in the construction of 5G base stations, providing technical support for the upgrade of global communication networks. This move has not only increased network speeds within China but also laid a solid foundation for the development of global internet infrastructure. In the renewable energy sector, China demonstrates formidable innovation capabilities as well.
As the world’s largest producer of solar and wind energy, China is at the forefront of clean energy research, development, and application. A report from the International Energy Agency (IEA) indicates that China’s green energy investments account for nearly one-third of the global total, making a significant contribution to combating climate change. As international cooperation continues to deepen, especially in addressing global challenges such as climate change and public health, China’s role becomes increasingly significant.
The GII 2024 identifies the top African S&T clusters within Africa beyond the global top 100. Egypt has the most clusters (11), followed by South Africa (8), Morocco (5), Nigeria (4), Tunisia (4), Ethiopia (2), Ghana (2) and Kenya (1) , with others following.
Switzerland, Sweden, the United States, Singapore, and the United Kingdom lead the GII 2024; China, Türkiye, India, Viet Nam, the Philippines, Indonesia, the Islamic Republic of Iran and Morocco are the middle-income economies that have climbed the fastest in the GII ranking since 2013.
The report identifies several barriers to social entrepreneurship, including limited legal frameworks, financing challenges, and inadequate impact measurement.
Innovation policy needs to be better designed to support social entrepreneurship, which requires a focus on institutional frameworks, human capital, infrastructure, networks, financing, and measurement.
The 2024 edition of the GII addresses these gaps by highlighting the state of social entrepreneurship globally and the role of innovation in creating positive impacts, and offers policy recommendations for unlocking the sector’s potential.
