Sunday, October 2, 2016

Xinhua — The rise of China's innovation

China has long been seen as the "world's factory," churning out vast mountains of low-quality goods, but it is also considered a nation incapable of producing innovative products and ideas.
Now, this is beginning to change -- China is closing the innovation gap. From drones to artificial intelligence, the Internet to genetic engineering, innovative Chinese companies are leading global innovation and reshaping the country's technology and business landscape.…
"To make China an innovative country and a leader in science and technology is what China must do now in pursuing development," President Xi Jinping said at the opening of the B20 summit in September.
High research and development spending, large numbers of engineering and science graduates and a wave of new businesses all signal that China has the potential to occupy the forefront of global innovation.
According to a global survey by Cornell University, INSEAD, and the World Intellectual Property Organization, China is now of the world's 25 most innovative economies.
China moved up four places from the 2015 survey to 25th overall, making it the first middle-income economy to break into the top 25, an area traditionally dominated by highly developed economies.…
Despite embracing innovation, China still lags behind on some issues.
Ren Zhengfei, founder of Huawei, said China must do more to protect intellectual property.
"Only if it protects intellectual property will China see more inventions. Ensuring originality is respected will attract more people into this field and help original ideas grow into industries," Ren said.
Dai Xiang believes the Chinese government needs further reform to cut red tape.
Calling it a painful process, Dai said it took him about eight months to register a joint venture with the Institute of Tsinghua University, Hebei Province.
"The administrative procedure should be simplified," he said.
The rise of China's innovation
Xinhua, Editor: Wang Fan

1 comment:

Andrew Anderson said...

"Kings of the East" comes to mind.