Abbreviations

AI

artificial intelligence

AWS

Amazon Web Services

BATs

Baidu, Alibaba, and Tencent

CBRC

China Banking Regulatory Commission

CCEI

Center for Creative Economy and Innovation

CEPD

Council for Economic Planning and Development

CME

coordinated market economy

CPC

Communist Party of China

CSRC

China Securities Regulatory Commission

EAFC

East Asian Financial Crisis

EPB

Economic Planning Board

ERSO

Electronic Research Service Organization

FDI

foreign direct investment

FoF

fund of funds

GFC

global financial crisis

GPIF

Government Pension Investment Fund

HIDZ

high-tech industries development zone

ICT

information and communications technology

III

Institute for Information Industry

IP

intellectual property

IPO

initial public offering

ITRI

Industrial Technology Research Institute

JAFCO

Japan Associated Finance Co. Ltd.

JETRO

Japan External Trade Organization

JFC

Japan Finance Corporation

JST

Japan Agency of Science and Technology

KAIST

Korea Advanced Institute of Science and Technology

KISED

Korea Institute of Startup and Entrepreneurship Development

KIST

Korea Institute of Science and Technology

KMT

Kuomintang

KONEX

Korea New Exchange

KOTRA

Korea Trade-Investment Promotion Agency

KRW

Korean Won

KVIC

Korea Venture Investment Corporation

LME

liberal market economy

LP

limited partnership

MEST

Ministry of Education, Science, and Technology

METI

Ministry of Economy, Trade, and Industry

MEXT

Ministry of Education, Culture, Sports, Science, and Technology

MIC 2025

Made in China 2025

MIIT

Ministry of Industry and Information Technology

MoEA

Ministry of Economic Affairs

MoF

Ministry of Finance

MOFCOM

Ministry of Commerce

MOHRSS

Ministry of Human Resources and Social Security

MoST

Ministry of Science and Technology

MSS

Ministry of SMEs and Startups

NDRC

National Development and Reform Commission

NIS

national innovation system

NPS

National Pension Service

OECD

Organization for Economic Co-operation and Development

OSTI

Office of Science, Technology, and Innovation

PBOC

People’s Bank of China

PRC

People’s Republic of China

R&D

research and development

RMB

Renminbi

SAIC

State Administration for Industry and Commerce

S&T

science and technology

SAT

State Administration of Taxation

SBIC

Small Business Investment Companies

SBIR

Small Business Innovation Research

SEI

Statute for the Encouragement of Investment

SEZ

special economic zone

SMBA

Small and Medium Business Administration

SME

small- and medium-size enterprises

SMIC

Semiconductor Manufacturing International Corporation

SMRJ

Organization for Small & Medium Enterprises and Regional Innovation, Japan

SOE

state-owned enterprise

SSTC

State Science and Technology Commission

STI

science, technology, and innovation

SZSE

Shenzhen Stock Exchange

TITAN

Taiwan Innovation and Tech Arena

TSMC

Taiwan Semiconductor Manufacturing Company

TSS

Taiwan Startup Stadium

VC

venture capital

VLSI

Very-Large-Scale Integration

VoC

varieties of capitalism

WTO

World Trade Organization