Abstract:Innovational development is the basis for China to catch up with and surpass leading countries at a fast pace. When generating an innovational development strategy, a country should focus on four aspects: development strategy direction, innovational development organization, capital investment for innovation, and the overall social progress to promote innovational development. Throughout modern history, practices in many countries demonstrate that these four aspects are basic components of the national innovational development strategy. China's innovational development reflects the state-led model in all four above aspects. As for development strategy, after the opening and reform policy, China adopted the strategy of export-led growth, and independent innovation oriented growth, The government introduced a series of policies to expand export and increase attractiveness for international capital, at the same time, it emphasized independent innovation ability to develop new industries and promote innovation and entrepreneurship, etc. For innovational development organization, China developed a vertically integrated structure, and an environment supporting structure with Hi-tech Zones as the core element to attract innovation resources including talents, venture capital, research centers, and advanced service firms . As for capital mobilization and innovation investment, the Chinese central government adopted a "project-led" way to invest in innovation activities, that is, the central government invests in projects, the local governments invest through the financing platforms, as well as various government-led science and technology financial models. As for promoting innovation development, China has moved from the old model of urbanization driven by industrialization to a new model where new urbanization and the development of innovational economy are supplementing each other and developing together. All the four above aspects formed the unique innovational development path of China.