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Business / Economy

Nobel prize winners upbeat on China's innovation and growth

(Xinhua) Updated: 2016-04-15 09:14

Nobel prize winners upbeat on China's innovation and growth

Nobel Laureate A. Michael Spence speaks during the session 'Tackling Climate, Development and Growth' in the Swiss mountain resort of Davos January 23, 2015. [Photo/Agencies]

According to Spence, to fully tap the potential of its vast domestic market, China needs to promote innovation in its manufacturing sector so as to further boost productivity.

He noted that there will be innovation in the service sector as well. "The digital technology in logistics and service provisions is powerful, there's lots of room. It will be, not the only, but an important drive of growth."

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