COMMERCIALIZATION OF THE RESULTS OF INNOVATIVE ACTIVITY OF JOINT UKRAINIAN-CHINESE ENTERPRISES

Research objective. The objective of this study is to examine the current state of the establishment of joint Ukrainian-Chinese enterprises and to analyse the prospects for the formation of business associations engaged in commercialization of the results of innovative activities in Ukraine and China on a mutually beneficial basis. Research methodology. In the paper, the authors examined the innovation process in Ukraine and China in order to substantiate the feasibility of establishing joint Ukrainian-Chinese companies engaged in the commercialization of innovative solutions. The review of publications demonstrated China’s significant achievements and global leadership in innovation. The paper describes a set of prerequisites that led to China’s innovative leadership. The considered prerequisites and the chronology of the legislative regulation of the Ukrainian-Chinese cooperation in the field of innovation activity allow to state that there are prospects of establishing joint Chinese-Ukrainian enterprises. A review of the development of the Ukrainian-Chinese partnership in historical retrospect shows the advantages and disadvantages involved in the establishment of joint Ukrainian-Chinese enterprises. In line with the findings of the study, the prospects for the organization of innovative joint ventures are outlined. The dominance of the Chinese system of state control and management of economic development over the private sector is emphasized. Conclusions. The authors conclude that China intends to use planned economic expansion to conquer foreign markets and subjugate all continents to its sphere of influence. The creation of Sinoforeign joint ventures also fits into the scheme of the superiority of the Chinese economic model over the Western model of economic relations. Ukrainian-Chinese joint ventures are also influenced by China's global long-term development program. Examples of Chinese investments in the Ukrainian economy and the placement of Ukrainian capital in China confirm the above observations. In each of the cited cases, the advantage of the Chinese influence over the partner party can be traced. It is relevant that China achieves this state of affairs by keeping the levers of influence in the hands of the state at all levels of state management of the country's economy. Practical implications. The results of this study are of interest to representatives of business structures that are interested in implementing projects on commercialization of the results of innovation activities. The authors conclude that in the process of creating joint ventures one should look for the “do no harm” sector, which maintains a level playing field for partners. Originality/value. This study highlights the similarities and differences in approaches to creating innovative joint ventures in Ukraine and China. The authors emphasize that China systematically defends the interests of both state-owned and private Chinese companies in foreign and domestic markets. In the domestic market, foreign investors are regulated, while in the foreign market, this is achieved through a set of measures that include financial instruments, intergovernmental agreements, and many other effective mechanisms to ensure success. China benefits most from international globalization and free trade.