Drive Growth through Innovation and Explore the Path to Scientific Development—Research on Shandong RuYi's Independent Innovation Model

Abstract

With the transformation of the market economy system, China’s economic development has shifted from the traditional economies of scale to the sustainable development approach that focuses on “improving quality and increasing efficiencyâ€. Rely on the drive of innovation to enhance the product value chain and promote enterprise transformation and upgrading. To implement innovation-driven, we must build a modern manufacturing system and rely on technological innovation to promote institutional innovation and quality innovation. Shandong RuYi, as the leading enterprise in the high-end worsted textile industry in China, builds independent innovation highlands with the functions of agglomeration, demonstration, influence, and radiation relying on independent new capabilities.