Beijing is once again grappling with a familiar challenge: how to transform its prodigious scientific output into economic dynamism. At a recent State Council study session, Premier Li Qiang rightly stressed that converting research breakthroughs into commercial successes demands an environment where “an effective market and a capable government” work in tandem. His call to “make greater use of market forces” by attracting private capital and encouraging financial innovation is a welcome diagnosis for an economy seeking new growth engines. Indeed, a vibrant, healthy capital market is the lifeblood of technological commercialization.
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