Chen Xiaochen, Deputy Director of the International Studies Department at the Chongyang Institute for Financial Studies of Renmin University of China, was interviewed by CCTV on innovative growth-one key theme of G20 on Sep.4th.

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Chen said that one of the most significant features in the G20 in Hangzhou is its emphasize on innovation and the innovation-driven goals. Hangzhou is a city based on the networks, which are visible innovations. There are also invisible innovations like innovation in business models.

In terms of government`s role in promoting the innovation, Chen said that innovations lie in basic science, which relies on the investment of the government; there exists more and more international flow of innovation owing to the globalization, and in turn more international cooperation is required. The summit will also deal with the barriers and protectionism to promote the cooperation.

Chen emphasized that other countries could learn lessons from China. The South-South cooperation could help to deal with the problem. The international capacity cooperation would also work and be welcomed by the emerging countries.