From the streets of Shanghai to Shenzhen’s technology incubators, to Beijing’s start-ups, innovation in China is thriving at a rate never seen before. The Chinese government plans to transform the nation into a global leader in science and technology, and has boosted research-and-development funding throughout the country. Chinese universities and institutes are undertaking cutting-edge research on technologies ranging from big data to biochemistry, nanotechnology to robotics, while partnering with science parks to commercialize these innovations. Chinese entrepreneurs are increasingly pioneers of innovation, whether in products or business processes, and are constantly adapting to the ever-changing and growing demands of the Chinese consumer market.
Indeed, China’s high R&D spending, large numbers of engineering and science graduates and wave of new entrepreneurial businesses all signal that the country has the potential to occupy the forefront of global innovation.
-- World Economic Forum