European Institute of Business Administration (INSEAD) and the World Intellectual Property Organization（WIPO）jointly issued the inaugural Global Innovation Index 2011(GII) on June 30. China leapfrogged 14 positions to make its top 30 debut.

According to the index, Switzerland tops this year's GII ranking, with Sweden and Singapore followed in the tow at the 2nd and the 3rd. China sprints to the 29th position from only 43th in 2010, making it a lone developing country in the top 30 ranking.

According to Professor Dutta, the project leader of the GII, the developing nations showed a high efficiency in their economies to innovate and were moving up the tables as their economies develop. Though developed economies dominate top 20, not a small number of developing countries secure positions in the 20th to 50th neighborhood.

WIPO Director General Francis Gurry said, innovation is a key factor in higher quality economic growth and job creation, and remains essential elements of competitiveness in the countries and regions, industries, enterprises.

(China IP News)