New Development of Theory of Foreign Industrial Policy

In recent years,as a result of the development of knowledge economy and the failure of the Washington Consensus,we saw great development in the study of foreign industrial policy: coordination failure and system failure lay the new theoretical foundation for the implementation of industrial policy;industrial policy falls into the category of horizontal policy,functional policy and selective policy,which provides a new analytical framework for the study of industrial policy;capacity building and innovation become the core of the new industrial policy,which expands the connotation and extension of the old industrial policy;and the system of industrial policy of the EU,which consists of frame policy,horizontal policy and sectional policy,makes us examine the development of modern industrial policy from a new perspective.It is a great challenge to creatively apply the new development of industrial policy theory to the solution to practical problems in the process of making China an innovative nation.