Open innovation with Chinese characteristics: a dynamic capabilities perspective

The Belt and Road Initiative can be seen as a country‐level policy of Inside‐Out open innovation. Through the content analysis of presidential speeches and the exploratory case studies of high‐speed rail and semiconductor industries in China, we clarify the role of the government as an orchestrator of open innovation and developing dynamic capabilities. State‐owned enterprises, privately‐owned companies, and foreign firms differentially affect the innovation performance of these industries, and the latter kinds of firms need greater support to implement the stated goals for open innovation in Chinese presidential speeches effectively.