Core Insights - The 2025 Nobel Prize in Economic Sciences was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their contributions to the theory of innovation-driven economic growth [4][5] - Mokyr received half of the prize for identifying the prerequisites for sustained growth through technological progress, while Aghion and Howitt shared the other half for their theory on sustained growth through creative destruction [4][5] Group 1: Contributions of the Laureates - Mokyr's work focuses on economic history, particularly the deep-seated causes of technological progress during the Industrial Revolution, emphasizing the interplay between culture, institutions, and economic growth [14] - Aghion and Howitt's significant contribution lies in their 1992 paper on "creative destruction," which established a theoretical framework for vertical innovation, where new technologies replace outdated ones, thereby driving economic growth [12][13] - The combination of Mokyr's historical insights and Aghion and Howitt's theoretical models provides a comprehensive understanding of the long-term logic of technological innovation [8] Group 2: Implications for Economic Policy - The research of the laureates highlights the importance of inclusive institutions, such as property rights and academic freedom, in reducing barriers to innovation [15] - The award's relevance to China is emphasized, particularly in the context of promoting "new quality productivity," which includes revolutionary technological breakthroughs as a core element [15][16] - The findings suggest that China should create an environment conducive to innovation that aligns with its development stage, rather than merely replicating models from developed countries [15]

Core Points - The article highlights the significance of the 13th China (Mianyang) Science and Technology City International Expo (Sci-Tech Expo) as a platform for showcasing Mianyang's technological advancements and its role in the Chengdu-Chongqing economic circle [3][17] - Mianyang is positioning itself as a hub for innovation and technology, leveraging its historical strengths in scientific research and development to drive economic growth and transformation [5][19] Group 1: Technological Development - Mianyang has hosted the Sci-Tech Expo since 2013, which has facilitated the transformation of over 2,000 technological achievements and generated transaction volumes exceeding 100 billion yuan [3][6] - The city has established 264 national and provincial-level technology innovation platforms, indicating a robust infrastructure for research and development [6][10] - Mianyang's R&D expenditure intensity ranks third in the nation, showcasing its commitment to innovation despite geographical and commercial challenges [10][16] Group 2: Industry and Economic Growth - Mianyang aims to strengthen its industrial chains in artificial intelligence, low-altitude economy, aerospace, and other emerging sectors, with projected industrial growth rates of 9.8% and 15.0% for overall industrial output and strategic emerging industries, respectively, in 2024 [14][15] - The city is developing a "587" industrial system to enhance its economic structure, focusing on deep integration of research, industry, and education [14][15] - Mianyang's approach combines vertical and horizontal innovation strategies, aiming to create a synergistic effect that enhances its industrial capabilities [12][16] Group 3: Collaboration and Ecosystem - The Sci-Tech Expo serves as a vital connector between technological innovation and industrial application, facilitating the transition of research outcomes into marketable products [10][19] - Mianyang is actively attracting talent and investment by offering favorable policies and a conducive business environment, which has led to the establishment of significant projects like the headquarters for a robotics company [18][19] - The city is fostering a collaborative ecosystem that integrates various stakeholders, including government, enterprises, and research institutions, to drive innovation and economic development [15][19]