What is the path of indigenous innovation with Chinese characteristics? — A case study based on Chinese high-speed rail (HSR) industry

China has built up the longest, fastest and largest High-speed Rail (HSR) network in the world in only 7 years. Even though doubts and critics go along with its rapid development, Chinese HSR is still a successful case in terms of the implement of technology introduction, digestion and re-innovation strategy. Based on a long-term tracking study, the authors argue that, the achievements China has got in HSR industry since the introduction strategy in 2004 is significant. How does Chinese HSR industry grow so fast? How does the model of Indigenous Innovation with Chinese Characteristics influence the process? The answers to these questions would provide a reference framework for developing high technology in other industries and for implementing new catch-up strategies in other developing countries.