Yes, and it means a lot. Innovation is the first driving force for development, and adhering to the road of independent innovation with China characteristics has become an important guiding ideology of China's innovation-driven development strategy. In order to explore the path of technological innovation in China, taking the high-tech industry in China in 2009-20 16 as the object, the relationship among independent research and development, exogenous technology and technological innovation was studied by using simultaneous equation model. It is found that both independent research and development and exogenous technology are important ways to promote technological innovation, but in the process of independent research and development on technological innovation, exogenous technology plays different roles, in which domestic technology purchase has masking effect, while foreign technology introduction does not; The technological digestion and transformation ability of a country or region is an important source of exogenous technology that promotes technological innovation and produces masking effect. This research conclusion has important reference significance for China's technological innovation to form the development paths of "introduction-digestion-re-innovation" and "purchase-transformation-re-innovation".