Knowledge Economy and Innovation of China's Economics

Knowledge economy is a kind of economic formation in which knowledge becomes the most rare resource. The replacement of one economic formation by another decides the innovation of economics theories. In the knowledge economy formation, knowledge accumulation is the core of the economic growth pattern, and knowledge becomes the main basis of income distribution. The coming of knowledge economy times urge China's economics to reexamine some questions, such as object of economics study, ownership, income distribution, knowledge product occupy the leading position, economic performance and economic growth.