With the in-depth promotion of the national innovation strategy, the Bohai Rim region is actively exploring and innovating new models of economic development. The Bohai Rim has advantageous conditions in terms of location, resources, industry, and education for the development of an innovation-driven economy. It shows a favorable trend of steadily increasing innovation investment, continuous improvement of the innovation environment, and enhanced quality of innovation output. Through data analysis and the measurement of rationalization, upgrading, and advanced levels of industrial structure, it is summarized that the Bohai Rim region faces several issues in the development of an innovation-driven economy, including regional disparities, weak industrial competitiveness, low rates of achievement transformation, and insufficient utilization of the bay area's advantages. Based on these issues, the following countermeasures are proposed: First, innovate the coordinated development mechanism for the innovation-driven economy in the Bohai Rim region. Second, enhance the advancement of industrial structure to strengthen industrial competitiveness. Third, improve the integration of industry, academia, and research to increase the conversion rate of scientific and technological achievements. Fourth, build an innovative bay area to expand the broad market.

Fei Miao. Research on the Development of an Innovation-Driven Economy in the Bohai Rim. Academic Journal of Business & Management (2024) Vol. 6, Issue 11: 269-274. https://doi.org/10.25236/AJBM.2024.061139.

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