Science technology innovation №1(9) 2019


Balanchuk I.S. – Senior Researcher of Ukrainian Institute for Scientific, Technical Expertise and Information, 180, Antonovуcha Str., Kyiv, Ukraine, 03680; +38 (044) 521-00-37;; ORCID: 0000-0002-5179-7350


Abstract. The article analyzes the advantages and disadvantages of the Chinese model of economic growth, the reasons for the inevitable slowdown. It is concluded that although the technological and innovation level of the Chinese economy is growing, in general, it remains extensive, based on the attraction of excessive amount of resources and capital. Today, China is on the brink of great change, and the future of this Asian country depends only on a further moderate course of conduct. A number of examples of successful start-ups of Chinese enterprises are presented, which, using their own, “Asian” approach to the problem solving, turning into a world-class company. It is shown that even if China abandons the United States in terms of GDP, it will not be able to become a full-fledged world leader, as most of the US leadership (ideological, military, technological, innovation, currency, etc.) will not be able to perform China. In addition, becoming a full-fledged leader in the global system of China will hamper its vulnerability in demography, democratic rights, leadership in environmental pollution, the fact that more and more of its citizens consider Western values ​​to be priorities, as well as a number of other circumstances. Only a moderate policy of full innovation of all levels of the economy, including, moreover, the social sphere, along with the timely resolution of pressing issues, will enable China to consolidate its leadership positions among the strongest and most powerful powers in the 21st century.

Keywords: China, innovation strategy, business model, innovations, technological innovations, gross domestic product, innovative system.


  1. Arthur R. Kroeber. China’s Economy: What Everyone Needs to Know. Retrieved from:
  2. Elizabeth C. Economy. The Third Revolution: Xi Jinping and the New Chinese State. Retrieved from:
  3. Kai-Fu Lee. AI Superpowers: China, Silicon Valley, and the New World Order. Retrieved from:
  4. Tencent, Alibaba make Fortune’s top 10 most profitable companies. China Daily. Retrieved from:
  5. Michelle Grant. E-commerce Set for Global Domination – But at Different Speeds. Retrieved from:
  6. Headlines from China: Alibaba, Tencent Make Fortune’s Top 10 Most Profitable Companies in China. ChinaFilmInsider. Retrieved from:
  7. Full List of 13th Five-Year Plan Targets and Comparison of Targets in the 12th Five-Year Plan. The US-China Business Council. Retrieved from:
  8. Chuan-Fu Wang: Executive Profile & Biography – Bloomberg. Retrieved from:
  9. BYD USA. Retrieved from:
  10. Electric mobility is here to stay. Julius Bär. Retrieved from:
  11. US-China Venture Capital Partnerships. China Business Review. Retrieved from:
  12. Venture Pulse 2018. KPMG Enterprise. Retrieved from:
  13. Here are the world’s largest drone companies and manufacturers to watch and invest in. Business Insider. Retrieved from:
  14. Xinhua Headlines: China’s digital economy on the rise: new engine, new opportunities. Xinhua Headlines. Retrieved from:
  15. Is Alibaba Losing to Tencent in China’s Trillion-Dollar Payment War? – Forbes. Retrieved from:
  16. Accelerate western development. China.оrg.сn. Retrieved from:
  17. Share of population aged 60 and older in China from 1950 to 2100. The Statistics Portal. Retrieved from: