Abstract:

Constructing the New Development Pattern requires restructuring China's innovation value chain. The innovation value chain is the logic chain of value creation from knowledge production to final consumption, encompassing three stages: knowledge production, technology production, and product manufacturing. In the context of deglobalization, the innovation value chain, which traditionally appeared in the form of Global Value Chains, is no longer sustainable, making the construction of a New Development Pattern a choice of the times. The core of reconfiguring China's innovation value chain lies in rebuilding the "technology production" stage, forming a complete supply and demand system from knowledge to products. The restructuring of innovation value chain necessitates the collaboration between "development capability of nation" and "development capability of capital." The development capability of nation utilizes "the project system" to create sustained technological supply, which is then industrialized through the "market-oriented” mechanisms enabled by development capability of capital, thus achieving the goal of constructing the New Development Pattern.

Key words:

New Development Pattern, innovation value chain, development capability of nation, development capability of capital

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