On the Relations of Modern Economy and Technology Development

The author holds that the relations of modern economy and technology development are a dialectical unity, in which market impulse and technological impetus are vital to the national innovation system. In the course of economic construction, the sunsetting (declining traditional industry such as textile industry and engineering industry in post industrial times) and (recently emergent industry, such as developing new technology for solving the problem of energy source) should be scientifically defined, and in particular,knowledge-based economy should be stressed in a rational way.