China is in the midst of transitioning from a manufacturing-based economy to one driven by innovation and knowledge. This up-to-date analysis evaluates China's state-led approach to science and technology, and its successes and failures.In recent decades, China has seen huge investments in high-tech science parks, a surge in home-grown top-ranked global companies, and a significant increase in scientific publications and patents. Helped by state policies and a flexible business cul...