Innovation: The First Driving Force to Lead Development

The Chinese economy is currently undergoing a transition from a phase of high-speed growth to one of high-quality development, with innovation-driven progress becoming increasingly crucial. In this new historical stage, innovation is viewed as a necessary condition for creating a modern nation and a significant undertaking for putting into practice the new development idea and creating a new development pattern. However, to fully grasp the potential of innovation, it is necessary to define it and explore its essence. Innovation should go beyond the development of new technologies, business models, and cultural systems; it should be value-oriented, addressing social issues brought on by growth. Exploration is a crucial aspect of innovation, involving venturing into uncharted territory with no guide or set of rules to follow. To innovate through exploration, an entrepreneurial and pragmatic mindset is necessary. Entrepreneurship and pragmatism describe individuals who possess an innovative spirit and are willing to take risks to achieve their goals. However, China’s innovation progress has been inadequate, with underlying reasons lying in culture, system, customs, and ecology. To progress from needle points to match heads or little wooden sticks, there is a need to foster a practical culture, practicalism, and entrepreneurial spirit.