摘要：本文主要分析了在中国转型经济环境中技术创新与经济周期的关系。首先，回顾现有文献以证实这种关系的存在；第二，利用统计数据展示我国经济周期的特点；第三，在文献基础上，利用我国GDP和专利数据来解释技术创新和经济周期的关系；第四，基于我国转型经济的事实，将其作为背景因素来研究其影响；最后，我们认为技术创新是促使经济周期运行的最终原因，同时制度创新在其中起到了约束作用。必须在鼓励技术创新的同时，保持制度的及时跟进。  

Abstract: The relationship between technological innovations and business cycles in China’s transition economy is checked. First, existing relevant literature is reviewed to justify the existence of such relationship; second, statistical data is used to show the characteristics of China’s business cycles; third, both GDP and patents data are adopted to explain the relationship between innovations and business cycles on the basis of the literature; fourth, the special transition economy of China is taken as a powerful contextual factor and its effects are studied. It is concluded that technological innovation is the very fundamental cause of business cycles, but institutional innovation is an important conditional factor. Therefore, the recommandations that push forward technological innovation strongly, and make institutions keep pace with are made.