Combining the theories of innovation economics and development economics as well as China’s practice of sci-tech system formation and reforms, this chapter analyzes and outlines the relationship between the sci-tech system and sci-tech innovation, the changes in China’s sci-tech system, the main problems in the sci-tech innovation before the 18th CPC National Congress, and the sci-tech system reforms after the 18th CPC National Congress. The implementation of an innovation-driven development strategy is the inevitable choice of the times, its core is to accelerate sci-tech innovation, and its success depends on the sci-tech system reforms. The in-depth sci-tech system reforms launched after the 18th CPC National Congress have shown initial results in promoting sci-tech innovation. Under the context of the new round of technological revolution and industrial changes, a new technology-economy paradigm is taking shape, and the role of sci-tech innovation in supporting economic and social development is increasingly prominent. China should follow the trend of the times, continue deepening the sci-tech system reforms, and reduce the constraints and obstacles to sci-tech innovation.