Abstract: Hightech industry innovation in China involves multiinput, multioutput and multilink activities according to the theory of innovation value chain. Innovation activities consist of technology development and technology achievement transformation,judging by the characteristics of the industry. In this study, innovation efficiency of technology development and technology achievement transformation is calculated by using DEA model, the spatial weight matrix of geographic distance is constructed, and the spatial error model is used to analyze the spillover effect.The results show that: innovation activities of hightech industries in China have low efficiency in technology achievement transformation despite high efficiency in technology development.In addition, neither the efficiency of technological development nor the efficiency of transformation of technological achievements is in full agreement with the level of local economic development since the innovation efficiency in some central and western provinces is considerably high. There are significant spatial spillover effects in the efficiency of technological development and technological achievements transformation in all sectors of China's hightech industry while there is no significant value chain spillover effect between technology development efficiency and technology achievement transformation efficiency.

Key words: innovation value chain, hightech industries, innovation efficiency, spillover effect