The China Innovation Index, a key measure of the nation's innovation capability, reached 155.7 in 2022, with an average annual growth of 6.5 percent since 2015, official data showed.

The rising index suggests sustained development in China's innovation capability, highlighted by an increasingly robust innovation ecosystem, more investments, and substantial innovation outcomes. The growth has reinforced its role in propelling the country's high-quality development, said Li Yin, chief statistician with the Social Science and Culture Department at the National Bureau of Statistics (NBS).

Li underscored the significant improvements in China's innovation environment in recent years, noting that the China Innovation Environment Index reached 160.4 in 2022, marking a 7.0 percent average annual growth since 2015.

Moreover, 115,000 large-scale industrial enterprises benefited from the tax incentives in 2022, comprising 65.7 percent of companies engaged in research and development (R&D) activities, the NBS data showed.

China's investment in R&D has steadily surged. China's Innovation Investment Index reached 146.7 in 2022, seeing a 5.6 percent average annual growth since 2015, according to the NBS.

In 2022, the nation's R&D spending amounted to 3.07 trillion yuan ($420 billion) in total, marking the seventh consecutive year of double-digit growth and sustaining its second-place global ranking.

The NBS reported that in 2022, China's Innovation Output Index was 187.5, reflecting a 9.4 percent average annual growth since 2015. China granted 798,000 invention patents in 2022, representing a 2.2-fold increase compared to 2015.

Additionally, in 2022, China's Innovation Effectiveness Index rose to 128.2, an increase of 0.7 percent from 2021, and an average annual growth of 3.6 percent since 2015. In 2022, large-scale domestic industrial enterprises generated 32.8 trillion yuan ($4.99 trillion) in revenue from new products, with an average annual growth rate of 11.7 percent since 2015, according to data from the NBS.

Li stressed that the emerging economy, characterized by new industries, new formats, and new business models, is steadily developing and has become a pivotal force driving the country's economic transformation and enhancing its economic vitality.