el innovation.Р A high level of industrial policy selection is related to high-level business model innovation. A low level of industrialР policy engagement is related to low-level business model innovation. Achieving high-level business model innovationР may not necessarily require high-tech innovation; however, high-tech innovation may lead to low-level business modelР innovation. The same industrial policy design and different combination of other conditions may lead to different levels ofР business model innovation.Р Key words：industrial policy; selection level; incentive level; engagement level; business model innovationР （责任编辑 于 丹）
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