Arroyo: China is the World‘s Innovation Powerhouse


The opening ceremony of the First Conference of the International Science, Technology and Innovation Forum (ISTIF) of Boao Forum for Asia (BFA) was held in Macao on November 10. Gloria Macapagal Arroyo, member of the Board of Directors of BFA and former president of the Philippines, delivered an online speech and appreciated the achievements of China in innovation development.

Arroyo said that China has been a source of some of the world’s key innovations with many innovative achievements. She added that as people around the world grapple with today’’s pandemic, China may once again play a major innovative role in the solution. The solution to COVID-19 that the world awaits, is a new vaccine. China appears to be ahead of other countries in developing a coronavirus vaccine.

Arroyo pointed out that China may also be the only major country in the world to register positive economic growth this year. She said this is not a surprise because after all, since China’’s reform and opening in 1978, it has proven that its approach of strategic planning and determined execution of such plans is effective. Given China’’s fertile environment for science and technology, it is no surprise that Alibaba and Tencent are among the 8 most valuable companies in the world today.

Arroyo summarized that the keys to China’’s success during the last 40 years as 4 factors. First, a long term vision. Second, a strong will to implement that vision. Third, a recognition of the value of infrastructure. Fourth, a recognition of the value of state of the art technology.

China is the world’’s innovation powerhouse. China has made steady commitment and contribution to implementing the UN 2030 Agenda on sustainable development.