The intellectual capital theory stems from concerns and research on the role of knowledge and intangible assets in economic development. It refers to the collection of intangible elements of knowledge, experience, technology, customer relations and professional skills that the organization possesses to provide competitive advantages, within a given regional and institutional framework, which can contribute to value creation in the organization, supported by an effective environment. The essence of intellectual capital is the organization's ability to convert resources into values and future competitive advantages。
In the past, research on intellectual capital had been more concentrated at the enterprise level, with relatively few studies from a macroeconomic perspective. With the evolution of the times and the rise in the level of research in economic theory, and while focusing on areas of research such as regional development, state innovation and organizational reform, scholars have found that intangible resources such as intellectual capital are increasingly crucial to the success of socio-economic development, and have thus advanced the theory of national or regional intellectual capital. The doctrine expands the theory of intellectual capital in enterprises, moving the principles of assessment and management of intellectual capital from the enterprise level to the macroeconomic level to help policy makers set the course for future national economic development。
National or regional intellectual capital generally includes human capital, structural capital and relationship capital. Human capital refers to the knowledge, education and human resource competitiveness needed to achieve regional strategic objectives and tasks, such as the quality of workers, the level of income of the population and the level of social security. Structural capital refers to intangible assets that guarantee the security, orderly and efficient functioning of the regional economy and the functioning of the regional human resources, including, inter alia, institutional norms, processes and efficiency of government functions, levels of sociocultural development, communication and communication mechanisms. Relationship capital refers to the interconnectedness of the various actors within the region and to all intangible resources linked to the external region, including, inter alia, internal and external economic relations, market opening environments, etc. At the macro level, the study of intellectual capital should focus on the subjective dynamics of the human person and the synergies created by a combination of social and external systems and intelligence, with a view to value formation and value addition. The three dimensions of the country's intellectual capital require coordinated development in order to contribute to steady socio-economic progress。
The study of national or regional patterns of economic development from the perspective of intellectual capital and the exploration of effective responses to promote national or regional economic growth have important theoretical innovations and practical implications. Comrade xi stressed that “theoretical innovation is a major precursor to practical innovation and that a comprehensive and deeper reform must be led by theoretical innovation”. Intellectual capital, which plays an enormous role in institutional innovation, structural optimization and the enhancement of integrated competitiveness, has gradually become an important source of reform and development. Taking into account the realities of our economic development, an in-depth study of the mechanisms of intellectual capital for the transformation of economic growth can provide an important theoretical basis for a comprehensive and deeper reform。
Intellectual capital contributes positively to socio-economic development. Intellectual capital can transform regional value creation systems. The higher the level of intellectual capital development in a region, the higher the level of value creation in terms of human capital, institutional systems and industrial size, the greater the contribution of intangible assets to value creation in the region. Intellectual capital provides a competitive advantage for economic development. In regions with higher levels of intellectual capital, there would be more resource allocation and greater industrial technological and technological creativity, and intellectual capital theory would explain why certain regions with scarce natural resources had higher levels of socio-economic development. Intellectual capital can enhance regional innovation capabilities. The level of intellectual capital development is positively linked to the ability to innovate, and improving the level of development of the various elements of intellectual capital can contribute to the improvement of innovation capacity. Among the elements of intellectual capital, structural capital is an important foundation for innovative mechanisms, and a good institutional environment can drive the healthy development of human capital and associated capital, thus contributing to the growing capacity for regional innovation。
Intellectual capital theory provides a new perspective for national macroeconomic development. It is the view of the author that the implementation and follow-up of the ccp decision on the comprehensive and deepening of reforms is a comprehensive step towards deepening reforms, which can be analysed and practiced in terms of intellectual capital theoretical research. The government should establish specialized theoretical research institutes to develop models of intellectual capital structures that are in line with the actual socio-economic development of the country, to help policymakers reveal and manage the intangible wealth of the country and to provide an innovative theoretical research perspective and strategic thinking model for central and local levels of government. The strategic goals of the reform will be broken down into specific operational dimensions in line with the intellectual capital structure system, with a view to operationalizing the mandates and indicators and promoting the implementation and implementation of the objectives on a coordinated and orderly basis. The central government should establish objective and effective evaluation and promotion mechanisms for the construction and implementation of intellectual capital at all levels of local government, for example, through the establishment of a system of summary intellectual capital reporting, periodic assessment of the development of intellectual capital in the regions and industries, and studies such as a comparison of horizontal and vertical trend analysis, in order to identify the strengths and weaknesses of regional intellectual capital in a timely manner and thereby target regional development policies to enhance regional competitiveness. Moreover, we should see that china's level of development is very weak, both in terms of soft and hard indicators. The 2014 report on the work of the government proposed “innovation to sustain and lead the optimal upgrading of economic structures”. Governments should therefore constantly give new impetus to reform by creating a positive and effective institutional environment that promotes the upgrading of national capacity for innovation。
The practice of reform and openness has shown that reform and development are dynamic and integrated processes with different dimensions at different stages of economic development, as well as different modes of growth due to differences in dominant factors and objective circumstances. In china today, the traditional pattern of economic growth is losing momentum, and the country's economic growth has reached a critical turning point in gaining new growth momentum through change and innovation. In this context, the party and the government have been reviewing the situation, constantly adjusting the thinking and methods of reform and seeking to break the upward momentum. National intellectual capital building is a new strategic idea. The improvement and upgrading of intellectual capital will certainly give new impetus to reform. More than ever before, the environment for a comprehensive and deeper reform is fraught with difficulties and challenges. It requires us to develop ideas and innovative institutions. China's socio-economic development will continue to yield new achievements only if new ways and means are constantly sought and our country's reforms are further advanced, as called for in the decision。
