The new round of revolution in science and technology and industrial transformation is rapidly advancing and sparking widespread discussions within the academic community. This paper conducted a systematic review of research progress in this field, highlighting the fundamental differences between mainstream economics and evolutionary economics regarding innovation and transformation. It further elaborated on the intrinsic connections among the new round of revolution in science and technology and industrial transformation, and innovation-driven development. By examining the technological evolution patterns, societal demands, security imperatives, and economic conditions, this study identified the key drivers of the new round of revolution in science and technology and industrial transformation. It also revealed how these drivers shape unique features in technological domains, innovation models, opportunities and challenges, and the competitive landscape. Against this backdrop, the paper emphasized that proactive transformations in institutional areas such as the science and technology system, innovation frameworks, innovation policies, and industrial policies are crucial for driving these changes. Finally, it will offer insights and future perspectives on advancing research into China′s new round of revolution in science and technology and industrial transformation.

   In the context of enhancing technological selfreliance and independence, China′s supports to innovation policies have been progressively strengthened and diversified in types. The efficacy and precision of innovation policy mix in enhancing the effectiveness of the national innovation system are receiving high attention from both policymakers and academic researchers. This study employed system dynamics to construct a national innovation system effectiveness model and conducted simulations to investigate the dynamic mechanisms through which innovation policy mix influence the effectiveness of national innovation system. The findings indicated that the impact of innovation policy mix on national innovation system effectiveness manifests both synergistic and substitution effects. The mix involving technology investment or innovation environment policies exhibit a synergistic enhancement of innovation system performance, whereas substitution effects are observed between industrial policies and talent input policies. Furthermore, innovation policy mix can substantially improve the efficacy of individual policies, with particular emphasis on the complementary and optimizing roles of technology investment and innovation environment policies in supporting industrial policies. However, the study also highlighted that the efficacy of policy mix does not necessarily improve with the inclusion of more policies. The conclusions of this research will provide valuable insights into the pathways for enhancing national innovation system effectiveness through innovation policy mix and offer empirical guidance for improving the effectiveness and precision of such policies.

   Facing the practical needs of China to cultivate emerging industries and improve modern industrial ecosystems, it is of guiding significance to explore how state-owned enterprises cultivate industrial ecological dominance and strive to be leaders in the construction of industrial ecological system in the practice of innovation with integrity. Based on the resource theory and trust construction theory, this study used the case study method to analyze the intrinsic meaning and core elements of state-owned enterprises' industrial ecological dominance and uphold the fundamental principles of innovation with integrity from the theoretical level, and summarized the process and mechanism of upholding the fundamental principles of innovation with integrity in driving the cultivation of state-owned enterprises' industrial ecological dominance. The study found that: (1) state-owned enterprises play a leading role in stabilizing industrial ecology and exploiting industrial advantages through five levels: magnetic aggregation, chain radiation, core co-creation, accommodation opening, governance dominance; (2) upholding the fundamental principles of innovation with integrity in state-owned enterprises is an endogenous innovation, which combines the value bottom line of Chinese technology philosophy and the pursuit of modern technology value creation, and thus it is an innovative development concept and innovative spirit with Chinese wisdom; (3) the two factors of innovation with integrity are promoted one by one in state-owned enterprises to establish the ecological foundation, optimize niche level, excavate ecological vitality, integrate ecological components, and balance ecosystem of five levels in building the industrial ecological dominance of state-owned enterprises.

   An appropriate exploratory innovation pace is crucial for enhancing corporate innovation efficiency and success rates, and it is of great significance for seizing innovation opportunities and realizing innovation-driven development. In the era of digital intelligence, the development and application of artificial intelligence (AI) technology have brought many opportunities for a new round of technological revolution and industrial transformation. However, existing research is insufficient in examining the relationship between the AI application and exploratory innovation pace at the firm level. Based on the organizational information processing theory and the data from Chinese A-share listed companies from 2011 to 2020, this paper conducted an empirical analysis on the relationship between AI application and exploratory innovation pace. The results showed that: (1) AI application has an inverted U-shaped impact on exploratory innovation pace; (2) Top management team regulatory focus moderates the relationship between AI application and exploratory innovation pace; (3) TMT promotion focus and prevention focus have heterogeneous regulatory effects on the relationship between AI application and exploratory innovation pace; and (4) The inverted U-shaped impact of AI application on exploratory innovation pace is stronger in non-state-owned enterprises, mature enterprises, low-tech industries, and enterprises in low-competition market environments. By doing so, this paper has deepened the understanding of the impact of AI application on exploratory innovation pace at the micro-corporate level and it will provide profound insights into the impact mechanism of top management team preference differences on corporate information processing and matching processes.

   The future industry innovation ecosystem is a crucial carrier for China to cultivate future industries, gain first-mover advantages and develop new quality productivity in the context of the new system for mobilizing resources nationwide. It requires government architects for its formation. Combining the analytical idea of "motivation-process-outcome" and the comprehensive advantage theory, this study adopted China′s hydrogen energy industry as the object, and used the longitudinal case study method to explore the formation mechanism of the future industry innovation ecosystem based on the governmental architecture. The results showed that: (1) there is a logical relationship and layered network structure among the components of the future industry innovation ecosystem, that is, networks of knowledge, entrepreneurship and business all have "subject-behavior-result" logic around disruptive technological innovation; (2) the government promotes the formation of the future industry innovation ecosystem along the comprehensive advantage strategic path by performing the role of an architect, and it sets system goals, shapes the layered network structure to establish the dominant advantages, provides key resources to accelerate the production and flow of energy to build the core competences, forms the innovation ecosystem to present the comprehensive advantages, and verifies whether the system goals are achieved; (3) the formation process of the future industry innovation ecosystem is sequentially the beginning period, the development period and the full promotion period, and the government accordingly sets the system goals of strategic technology reserve, key field system construction and comprehensive industrialization, and outputs start-up, developmental and enhancement resources on the basis of shaping the foundation-type, pyramid-type and fortress-type layered network structure, and forms the embryonic, juvenile and growth-type systems by building the core capabilities of strategic technology research and development, key field breakthroughs and comprehensive industrialization. The study will expand the grounded theory of innovation ecosystems in the context of future industries, and provide insights for the government to better play the architectural function to promote the formation of innovation ecosystems in future industries.

   Technical standards are not only technical specifications, but also a strategic tool for business, and they even involve national-level conflicts of interest. Internationalization of technical standards requires the sufficient mobilization of key factors such as technology, market and government. This paper reviewed relevant data on the internationalization of technical standards in 57 countries from 2000 to 2018, and used a multiple linear regression model to examine the influencing factors of international competition in technical standards. The research found that: (1) the overall regression model indicated that there are indeed market power effects, R&D power effects, and government power effects in the international competition of technical standards. The contribution of R&D investment is the most significant. (2) Grouped regression showed that effective market demand and sustained R&D investment can effectively enhance the international competitiveness of national technical standards, and full interaction between technology and the market can exert a synergistic effect. In different national contexts, there are differences in the focus of enhancing the international competitiveness of technical standards. When the scale of market demand is guaranteed, more attention should be paid to the improvement of technological strength, and when mastering the power of technological discourse internationally, more attention should be paid to the market-oriented promotion of technology. (3) In terms of grouped regression analysis of government support, it was found that only small R&D countries had significant government support, indicating uncertainty in government support for different countries. This study will provide important insights for China to fully utilize its market demand scale advantage to enhance its international competitiveness in technology standards.

   Optimizing urban business environment ecology is crucial for the development of enterprises′ new quality productive forces. This paper constructed an evaluation index system based on the contemporary connotation of enterprises′ new quality productive forces and combined institutional logic framework with the ecosystem coupling perspective. Using the dynamic QCA methodology and a sample of 84 strategic emerging enterprises from 2011 to 2021, the study explored the configuration paths and evolutionary patterns of the development of enterprises′ new quality productive forces driven by urban business environment ecology. The findings are as follows: (1) Individual business environment ecological factors are not necessary conditions for the development of enterprises′ new quality productive forces; (2) Four configuration paths driving enterprises′ new quality productive forces are identified as follows: human resources-oriented tightly coupled under government leadership (H1), government-led-market-regulated loosely coupled with finance (H2), government-market dual-lead tightly coupled with finance (H3), and service-oriented government-led-market-regulated loosely coupled with human resources and innovation (H4), with innovation and financial environments playing a relatively universal role; (3) The inter-group consistency of configurations between H1, H2, and H3 shows a distinct parallel fluctuation trend, with some enterprises not adhering to a single configuration, and significant regional differences in the within coverage of all four configurations. The results of this study will contribute to uncovering the “black box” of the formation mechanism of enterprises′ new quality productive forces within the urban business environment ecology, thus providing theoretical and practical insights for developing new quality productive forces in a context-specific manner.

Independent micro-innovation is of great significance for new ventures to achieve curve overtaking in a fiercely competitive environment. Effectuation has become an important means for startups to reduce uncertainty and innovation risks, break through resource constraints, and achieve micro innovation. However, there is currently little research to explore the influence mechanism between effectuation and independent micro-innovation. Based on the theory of effectuation, this study used a hierarchical regression method to empirically test the sample data of 426 new startups. The research results showed that: (1) Effectuation has a significant positive impact on independent micro-innovation; (2) Resource bricolage plays a partial mediating role between effectuation and independent micro-innovation; (3) Competition intensity plays a positive moderating effect in the relationship between effectuation and resource bricolage. The higher the intensity of the competition, the stronger the positive impact of effectuation on resource bricolage; (4) Government support has a positive moderating effect in the relationship between effectuation and independent micro-innovation. The more support the government provides, the stronger the positive impact of effectuation on independent micro-innovation for new ventures.The research findings provide theoretical reference and guidance value for the practice of independent micro-innovation of new ventures.

Developing vigorously the technology market is an important part of improving China′s socialist economic system. The digital economy has accelerated the flow of information elements and has an important impact on the transaction activities of the technology market. Based on the panel data at the provincial level in China from 2011 to 2021, this paper employed a two-way fixed-effects model to examine the nonlinear impact of digital economy on the activity of China′s technology market transactions and its operational mechanisms. The results indicated a significant "U-shaped" relationship between digital economy and the activity of technology market transactions, and this conclusion still holds after a series of robustness tests. Further analyses revealed that the nonlinear relationship between digital economy and the activity of technology market transactions is more pronounced in the eastern region, technology services, and technology development, with the vigorous implementation of digital economy policies strengthening this relationship. Additionally, mechanism tests showed that innovation output plays a partial mediating role between digital economy and technology market transactions, while intellectual property protection has a significant positive moderating effect on the relationship between digital economy and the activity of technology transactions. The findings of this paper will enrich and expand the nonlinear logic exploration between digital economy and technology market transactions, thus providing a reference for the government to deepen the development of the digital economy and establish a favorable technology market environment in strategizing. 

As digital economy has become a new engine of global economic growth, under the pattern of "double cycle" and innovation-driven development strategy, the digital economy outbound investment cooperation represented by digital cross-border M&A provides an effective way for Chinese enterprises to seek digital means to enhance the innovation ability and create new competitive advantages. Taking the retail industry, which is the most active in digital transformation and digital M&As, as the research object, this paper adopted the data of A-share listed retail enterprises from 2011 to 2022 to characterize innovation quality by identifying the amount of technology patent citations and knowledge width, and empirically tested the effect and mechanism of digital cross-border M&As on enterprises′ high-quality technological innovation. It was found that digital cross-border M&As significantly promote the retail enterprises to carry out high-quality technological innovation, and this conclusion is still valid after the robustness test. The heterogeneity analysis showed that the promotion effect of digital crossborder M&A on innovation quality is more obvious in non-state-owned enterprises, eastern regions and enterprises with low M&A premium. Further investigation of the impact mechanism showed that digital cross-border M&A mainly promotes the improvement of technological innovation quality by improving the circulation efficiency of enterprises, while overly centralized supply chain relations will weaken the positive impact of digital cross-border M&A on innovation quality. This study will not only provide new empirical evidence for enterprises to explore digital transformation, but also provide beneficial enlightenment for enterprises to carry out innovation activities.

   Emerging innovation ecosystems, such as those based on artificial intelligence foundation models, are rapidly taking shape. Unlike traditional industry innovation ecosystems, architects in these new ecosystems must navigate both positive and negative impacts of technological innovation during the experimental and exploratory phases of ecological construction. Further investigation is required to understand the formation mechanisms and governance strategies of these emerging industry innovation ecosystems. This paper employed a longitudinal case study approach, focusing on OpenAI, a leading research and development organization, to distill general patterns in the formation of emerging industry innovation ecosystems from the architect′s perspective. It also delved into the varied governance mechanisms employed by architects within industry innovation ecosystems. The study revealed that: first, in the initial exploration phase, architects clarify technical objectives through open architecture and extensive testing of various technology pathways; second, during the development breakthrough phase, architects achieve a comprehensive technology layout by leveraging collaborative architecture, making focused investments in selected technology routes, integrating internal technology governance, and embracing public oversight; and third, in the continuous growth phase, architects enhance joint industry governance and engage in governmental governance activities by integrating architecture and accelerating the construction of innovation ecosystems, thereby reinforcing the legitimacy of ecological development. This paper constructed a "structure-conduct-governance-performance" (SCGP) process model, identified multiple governance mechanisms, including technology governance, public supervision, industry governance, and participation in government governance, and advanced research on the formation mechanisms of emerging industry innovation ecosystems. It will hold significant implications for research and development organizations aiming to achieve breakthroughs in emerging technologies and expedite the development of emerging industry innovation ecosystems.

   Digital technology innovation is a key link to implement the digital China strategy, and it is also a practical path to enable the high-quality development of China′s economy, and the efficient allocation of financial resources is an important factor affecting digital technology innovation. In view of this, this paper used the longitude and latitude information to capture the network data of nearby financial institutions at the enterprise level, selected the non-financial A-share listed companies in Shanghai and Shenzhen from 2007 to 2022 as the research object, and empirically analyzed the influence mechanism of the availability of traditional finance on enterprise digital technology innovation from the perspective of financial geographic structure. It was found that the availability of traditional finance has a significant boost effect on the enterprises′ digital technology innovation, and easing financing constraints, enhancing risk bearing capacity and improving digital investment are the functional mechanisms of the availability of traditional finance to enable enterprises′ digital technology innovation. Further research found that the availability of traditional finance has an asymmetric effect on the digital technology innovation activities of enterprises with different industrial chain positions, property rights and sizes. In addition, it was also found that the availability of traditional finance strengthens the product market competition effect of digital technology innovation. From the perspective of financial geographic structure, this paper revealed that the internal logic of traditional finance will enable enterprises to innovate digital technology, and the research will deepen the theoretical cognition that financial supply-side structural reform serves the high-quality development of the real economy.

   Enhancing total factor productivity (TFP) is a fundamental driver of high-quality and innovation-driven development of enterprises. In the context of China′s "carbon peaking and carbon neutrality" strategy, green finance has emerged as a pivotal financial innovation. However, its impact on firms′ TFP and the underlying transmission mechanisms remain underexplored. Drawing on the panel data of non-financial A-share listed companies in Shanghai and Shenzhen from 2009 to 2020, this study employed the fixed effects and mediation models to empirically examine the effects of green finance on corporate TFP. The results showed that: (1) green finance significantly improves firm-level TFP; (2) information transparency and green innovation serve as effective mediators in this relationship, whereas the mediating effect of financing constraints is heterogeneous across firms; and (3) the productivity-enhancing effects of green finance are more prominent among state-owned and heavily polluting enterprises, indicating differentiated policy impacts. This study will contribute to the literature on the real economic consequences of green finance and the determinants of productivity, and offer theoretical and policy implications for promoting synergy between green transformation and sustainable economic growth.

  Adapting to the dynamic construction of resource environments that meet the demands of strategic change contexts is crucial for Chinese enterprises to ascend the global value chain. It is imperative to explore how enterprises dynamically construct resource environments to achieve competitiveness leapfrogging during this critical period of new technological revolution. Following the logical framework of "strategic change context - resource environment construction - competitive leapfrogging", this paper conducted a longitudinal case study of Yili to investigate the dynamic processes and internal mechanisms through which Chinese enterprises construct the resource environments oriented toward competitive enhancement during strategic transformations encompassing "market expansion - brand strengthening - ecosystem innovation". The key findings include: (1) As strategic contexts evolve, the construction of enterprise resource environments progress through "unidirectional relational - bidirectional interdependent - multidimensional collaborative" stages, enabling competitive capabilities to leap from "systematic operational capacity based on learning absorption" to "industrial chain integration capability through interactive empowerment", and ultimately to "ecosystem leadership through open innovation"; (2) The sequential realization of "market resource alertness - reputational resource alertness - network resource alertness" constitutes the logical starting point for dynamic resource environment construction; (3) The interplay between differentiated resource strategic logics (institutional logic and efficiency logic) and phased resource capabilities drives resource activation, serving as the key dynamic for environment construction. This study will expand research dimensions and theoretical achievements in resource environment construction, and provide some theoretical guidance for Chinese enterprises to dynamically build resource environments and achieve competitive leapfrogging amidst strategic transformations.

   How firms effectively respond to the negative impacts of technological gaps is not only related to the overall level of technological development in society but also serves as a key factor for the stability of capital markets and the coordinated development of the economy. However, it remains unclear how firms with technological disadvantages can achieve strategic catchup. To address this issue, this study empirically examined the sample A-share listed companies from Shanghai and Shenzhen stock exchanges over the period from 2010 to 2020 using a fixed-effects model. The findings are as follows: (1) technological gaps have a negative impact on firm value, but strategic alliances can effectively mitigate this impact; (2) the mitigating effect of strategic alliances is particularly pronounced in high-tech industries; (3) the mechanisms through which strategic alliances mitigate the technological gap include reducing cash flow risks, compensating for a lack of technological innovation experience, and overcoming deficiencies in specialized assets; and (4) the mitigating effect of strategic alliances is more significant when the external information environment is poor and internal control efficiency is high. The findings of this study will enrich the research on technological development from the perspective of firm collaboration through strategic alliances and provide theoretical guidance for technologically disadvantaged firms to implement catch-up strategies.

   Green innovative development is one of the core issues of Chinese modernization, and promoting locally-differentiated innovation and regionally-coordinated development is a critical engine and key decision for this process. This paper constructed the SBM-DEA model to measure the green innovation development level of Beijing-Tianjin-Hebei and surrounding areas from 2005 to 2019. It explored the spatial distribution and evolutionary characteristics using the spatial autocorrelation, standard deviation ellipse and Kernel density methods, and revealed differences and their sources with the Dagum Gini coefficient. The paper also tested for convergence using the coefficient of variation and econometric models. The findings are as follows: Overall, the green innovative development in Beijing-Tianjin-Hebei and surrounding areas exhibits a U-shaped spatial linkage trend characterized by low intensity, instability and imbalance, with four types of agglomeration patterns coexisting. The standard deviation ellipse extends along the southwest-northeast direction, with high fluctuation frequency in the rotation angle and the center located in Hebei, reflecting an alternating pattern of agglomeration and expansion. The global Kernel density curve shows rightward shifts of varying degrees, predominantly unimodal, with gradually decreasing peak values, increasing bandwidth, and a pronounced rightward tail. The local Kernel density curves show the diversified and asymmetric features such as twin peak, right-tail, alternating movement, with a high degree of dispersion. The Gini coefficient initially decreases and then increases, indicating an obvious convergence-divergence trend, with regional differences and density of transvariation being the main sources. There is no σ-convergence, but absolute and conditional β-convergence characteristics are present. Therefore, it is necessary to implement such measures as balancing target differentiation, coordinating development pace, aligning specialized divisions of labor, and improving performance systems.

   As a key area of China′s environmental governance, the improvement of green innovation performance of heavy polluting enterprises plays an important role in accelerating industrial green transformation and development. In this paper, an analytical framework of the factors influencing green innovation performance of heavy polluting enterprises was first constructed based on the institutional theory and the natural resourcebased view. The machine learning XGBoost (eXtreme Gradient Boosting) model was also applied to predict corporate green innovation performance. On this basis, the additive explanatory model Shapley Additive exPlanations (SHAP) based on the game theory was further used to identify the degree of influence and the direction of the role of each characteristic variable on corporate green innovation performance. The empirical analysis based on the listed firms in the heavily polluting industries from 2011 to 2021 demonstrated that external environment, corporate characteristics, and corporate governance significantly influence the green innovation performance of heavily polluting enterprises. Among them, market-oriented environmental policies and firm size are the most critical factors driving performance improvement, reflecting the key role of external institutional environment and scale effect in innovation. Meanwhile, the effects of secondary factors such as institutional shareholdings, shareholding ratio of the top 10 shareholders, firm age, market value, public concern, command-and-control environmental regulation, and government subsidy further emphasized the significant impact of shareholding structure, market performance, and external incentives on green innovation. It is worth noting that command-and-control environmental regulation exhibits an inhibitory effect on green innovation, suggesting that the efficiency and flexibility of mandatory policy tools in stimulating innovation needs to be improved. Based on the above findings, this paper further proposed governance countermeasures and recommendations to accelerate the promotion of green innovation performance of heavy polluting enterprises in China.

Green technological innovation is a critical driver of economic development and construction of a beautiful China. The influence of top executives on corporate green innovation has attracted growing attention. Based on the imprinting theory, personal experiences during sensitive periods can shape executives′ behavioral philosophies, risk preferences, and value judgments, leaving unique and enduring "imprints" that significantly and persistently affect their cognitive patterns and decision-making behaviors. Using the micro-level data from Chinese listed companies between 2010 and 2022, this study leveraged the unique context of the onechild policy to empirically examine the effects of social and technical imprints on the green innovation decisions of female executives. We found that: (1) The social imprint derived from the one-child upbringing significantly enhances female executives′ willingness to pursue green innovation, especially in terms of green invention patent applications. It suggests that a more gender-equal environment fosters more optimistic attitudes and risk tolerance among female executives, encouraging a proactive approach to green innovation. (2) Furthermore, technical experiences reinforce their innovative spirit and promote their engagement in green innovation activities. (3) The heterogeneity analysis confirmed the influence of regional gender norms, providing further validation for the study′s conclusions. This research will enrich the literature on corporate green innovation, confirm the shaping effects of social and technical imprints on female executives′ cognition and behavior, and offer practical insights for advancing green innovation in enterprises.

   The digital revolution not only drives the transformation revolution of enterprises, but also push the digital transformation revolution of leadership behavior. However, existing literature mainly discusses the formation mechanism of digital leadership from a "top-down" perspective, while neglect the "bottom-up" reversal influence of employees. Considering that employees in the digital age are more innovative and have potential to exert reversal influence on their supervisor, it leaves open the possibility that employee innovative behavior could improve digital leadership, which will be a breakthrough path for enterprises to deal with the dilemma of "how to transform traditional leadership into digital leadership". Based on the Social Information Processing Theory, this study conducted an analysis on 286 leader-employee two-wave pairing questionnaire obtained from enterprises with digital transformation in South China. The results showed that: (1)when leader′s bottom-line mentality is low, employee innovative behavior can improve the digital leadership; when leader′s bottom-line mentality is high, the relationship is not significant; (2) when employee′s bottom-line mentality is low, digital leadership positively influence employee innovative behavior; when employee′s bottom-line mentality is high, the relationship is not significant; (3) when both leader and employee have a low-level bottom-line mentality, employee innovative behavior would promote leader to actively conduct digital leadership behavior, and then digital leadership would further encourage employee to actively engage in innovation, thus realizing a "incremental effect" of employee innovation. Breaking away from the usual top-down perspective in existing leader behavior research, this study has theoretically expanded people′s understanding on the formation and influence process of digital leadership, and it will practically provide reference on solving the dilemma of traditional leader transforming to digital leadership.