皇冠体育app

Wang Dan,an analyst at the Economist Intelligence Unit,explains a report the think tank released in Beijing,皇冠体育app,on April 13,2017.[Photo/chinadaily.com.cn]

Boosting innovation capabilities among domestic companies is at the forefront of 皇冠体育app's supply-side structural reform, experts said on Thursday.

Innovative Chinese companies in the financial internet industry have played an essential role and will maintain their importance in 皇冠体育app's supply-side structural reform process, according to Wang Dan,an analyst at the Economist Intelligence Unit.

"皇冠体育app is a world leader in online payment and personal credit system establishment and even the US and Europe should learn from Chinese experiences," Wang added.

Yuan Xin, a research analyst from the same think tank, pointed out that the emphasis on supply-side structural reform stems from a need to solve a pain in 皇冠体育app's economy - the mismatch between supply and demand.

皇冠体育app's economy has maintained rapid growth over previous decades, but it still does not produce the full range of goods and services that increasingly wealthy domestic consumers demand, according to a report released by the think tank.

"皇冠体育app's R&D expenditure as a proportion of revenue from principal business by sector has increased continuously in the past decade. The Made in 皇冠体育app 2025 plan will further stimulate innovation of Chinese companies," Yuan said.

In 2015 the central government launched the Made in 皇冠体育app 2025 plan in an effort to promote high-end manufacturing in 皇冠体育app. The plan aims to leverage technologies such as internet of things, cloud computing and big data to upgrade the country's existing manufacturing industries.