China's national policy for creating the competitive high-tech Industry and its possible adaptation in Russia
Importance China has made a real technological breakthrough for the recent fifteen years, thus creating competitive and high-tech sectors of economy, i.e. microelectronics, telecommunication equipment, bio-technologies, new sources of energy. These sectors are making their first steps in Russia. If best practices of various countries, including China, in the development of hi-tech sectors are implemented in Russia, it will propel the S&T progress, economic growth and diversify the national economy. Objectives The research determines key tools of China's national policy in high technologies and assesses whether the policy can be adapted for Russia. I also analyze the current condition of China's hi-tech sector, identify the main areas of the national policy in this area, and consider the current situation in advanced technologies in Russia. Methods The methodological underpinning relies upon an analysis of China's practical experience in developing cutting-edge technologies. Results I found key factors of Chinese achievements and success in creating the competitive and hi-tech economy, and the most effective tools of the national policy. The article indicates possible areas for applying the advanced experience of China in the current circumstances in Russia. Conclusions and Relevance I conclude on the need to implement some most effective mechanisms for developing the science-intensive sectors of economy China uses to address one of the most critical objectives the Russian Government has to meet, i.e. to alter the structure of the national economy.