Boao Forum for Asia Launches Innovation Report 2022

On May 24, the Secretariat of the Boao Forum for Asia (BFA) launched the Innovation Report 2022 in Zhuhai. The South China University of Technology (SCUT) provided significant support for the development and release of the report.

During the launch conference, Secretary General Li Baodong stated that the new round of technological revolution and industrial transformation has accelerated, and Asia has demonstrated a rapid improvement in regional innovation capabilities. Amid a highly uncertain international situation, innovation, industrial upgrading, and green development have become critical for promoting world economic recovery and achieving Sustainable Development Goals.

Li Baodong also introduced the main characteristics of global innovation. Firstly, Asia has increasingly become the world’s most dynamic source of technological innovation. In Asia, China has become the world’s largest processor of patent applications and protector of patent rights. ASEAN countries have also made remarkable progress in innovation, which has greatly contributed to their economic recovery in the wake of Covid-19. Secondly, the global technology innovation landscape is now dominated by the three parallel centers of North America, Europe, and Asia-Pacific, with China ranked among the top echelon. Technological innovation in China, backed by its real economy, provides an important boost to global industrial transformation. Thirdly, countries have been constantly introducing laws and policies to create a favorable environment for themselves to compete for dominance in technological innovation. Fourthly, developing economies have become more competitive in technology, with China at the forefront of technological innovation. Developing countries have also moved up in the annual ranking of the world’s economies in terms of innovation capabilities and output.

Zafar Uddin Mahmood, policy advisor to the Secretary General of the BFA, stated that Asia is becoming a global powerhouse and hub for technological progress, accounting for nearly half of the world’s economic output and 42% of R&D spending. China’s massive allocation of social resources and R&D funds into technological innovation and development over the past several decades has resulted in a series of encouraging achievements. Today’s China is becoming an innovative economy, which will be an important engine for its economic growth and add a strong impetus to the growth of Asia and the world.

Zhang Xichun, Party Secretary of SCUT, introduced the important role of universities in technological innovation. He highlighted high-level research universities as cradles of innovative talents, the main driver of basic research, and participants in innovative industries. SCUT has been committed to its philosophy of “integrating into development to promote development”, providing solid support for the high-quality development of the Greater Bay Area.

The launch conference was moderated by Leong Vai Tac, Member of the Council of Advisors of the BFA and Executive Chairman of International Science, Technology and Innovation Forum (ISTIF). Guan Yonghong, Director of the Institute of Intellectual Property of the Law School of SCUT, presented the main ideas of the report to the participants on behalf of the expert team. Lin Rituan, Deputy Secretary General of the Zhuhai Municipal People’s Government, introduced technology innovation in Zhuhai. Li Guangtao, Executive Director of the Organizing Committee of ISTIF, briefed on the preparations for the Third Conference of ISTIF.