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Innovation News of Hainan Island, China: 36% of enterprises carry out innovative activities, 33.9% of enterprises successfully innovate

The Bureau of Statistics of Hainan Province reported that a study was conducted among 1,285 enterprises in Hainan Province with relatively active innovation activities in the form of questionnaires based on their work results in 2017.

The results of the research show that 36.0% of the enterprises of Hainan Province carried out innovative activities, and 33.9% of enterprises successfully achieved innovations, but that
0.1 and 0.4 percentage points lower than last year, therefore, Hainan Island enterprises, based on innovations, still need "capacity upgrading".

Innovations in this study are divided into four types: product innovation, innovation in technology, innovation in organizations and marketing innovations. Innovation and innovation in the field of innovation are collectively called innovation in technology, and organizational innovations and marketing innovations are collectively called non-technical innovations. Overall, 20.5% of enterprises conducted technological innovation, and 16.8% of enterprises successfully achieved technological innovation, which is 1.5 percentage points lower than last year.

In terms of corporate income, corporate income is growing steadily. In 2017, the surveyed enterprises sold products and services in the amount of 506.676 billion yuan, an increase of 4.9% compared to the same period last year, total profit reached 26.071 billion yuan, up 3.2% over the same period last year . For example, in the pharmaceutical industry of Hainan Island with relatively concentrated innovations in the industry, in 2017, the main business income was 18.049 billion yuan, an increase of 22.6% over the same period last year, and total profit was 3.477 billion yuan, an increase of 53.0% compared to the same period last year. It can be seen that innovation enhances the vitality and core competitiveness of the enterprise, thereby increasing the efficiency and sustainability of the enterprise.

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