New in paperback. Hardcover was published in 2023. Departing from the literature of science and technology (S&T) and innovation studies that treats innovation as a market or enterprise's behavior in Schumpeter's sense, this book argues that it involves politics, institutions, and the role of the state. In particular, it examines how the Chinese state has played its visible role in making innovation policies, allocating funding for R&D programs, making efforts to attract talent, and organizing critical S&T programs.