Abstract

The central dilemma for Chinese science and technology (S&T) policy is how to reform and improve such policies without the deleterious interventions of the past. In a centralized S&T system, government intervention has proved at times disruptive and even destructive to efforts at national economic advancement. The historical processes within China have produced an S&T system with enormous potential but plagued by difficulties in investment strategies and capacity for innovation. Simply put, investment levels have been low, and the capacity to generate more funding is lacking. How to improve the situation and confront the competitive challenges posed by a more transparent international economic system are considered in the last part of the article.