Technological innovation refers to the economic development, only new technology and new inventions in the production of the first application, is in the production system to establish a new production function or supply function. The new combination economics, which causes a kind of factor of production and production conditions, emphasizes that planned innovation is not exclusive. Uncertainty, marketability and systemic characteristics.
According to the above definition, Haier Group's production of household appliances suitable for the needs of all kinds of people and achieving great market returns belongs to technological innovation in the field of economics.