The G20 National Innovation Competitiveness Development Yellow Book (2015-2016) was released on Aug. 25 in Beijing.

China placed ninth and is the only developing country among the top 10 G20 nations ranked based on innovative capability, according to a new report.

America ranked first, while Great Britain placed second and Japan, third, according to the report.

The G20 National Innovation Competitiveness Development Yellow Book (2015-2016) was jointly released on Aug. 25 by the Institute for International Strategic Studies of the Party School of the Central Committee of CPC, the China Science and Technology Exchange Center under the Ministry of Science and Technology, and Fujian Normal University.

The report suggests the innovation competitiveness of the rated G20 countries increased relative to the period from 2013 to 2014, indicating that G20 members have implemented innovation-driven strategies to recover from economic crisis.

The Yellow Book reveals the reasons behind China’s current steady growth and its potential to foster new growth points through innovation, said Long Guoqiang, vice-president of the Development Research Center of the State Council.

He pointed out that China is not only striving to catch up in the field of new technology but is also taking full advantage of the new technological revolution to transform and upgrade traditional industries. In addition, China should make full use of global markets and resources, as well as advance structural reforms to ensure innovation.

Li Minrong, director of Zhongzhi Center for Scientific and Technical Evaluation, said the Chinese economy has been increasingly integrated into the world and China’s growth, greatly contributing to the development and stability of the world in the context of financial crisis. The trend of common development will be the dominant picture in the future considering the intertwined economic relationship between China and the world, especially the G20 members.