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Foreign media see bright outlook in Chinese-style innovation

Updated: Aug 3,2016 2:33 PM’s Daily

China has put increasing efforts into seeking new growth engine with a spirit of mass innovation. A recent policy move of legalizing online car-hailing service has drawn attention from foreign media who tend to see China as a “role model” in the innovation reform and digital economy.

The UK’s Financial Times commented that although the online car-hailing service is banned in many countries, China has already started to take advantage of this technology to promote its economic growth.

And beyond the step itself, some foreign media also pointed out a deeper meaning of the move in the area of “Internet plus”.

French newspaper Le Figaro reported that “Internet plus”, as an innovation-driven strategy in China, is aimed to promote the upgrading of traditional economy and transform it into a service-oriented one.

According to American magazine Forbes, multi-channel consumers making purchases on social media or apps based on the information provided by the digital platform have now become the mainstream in China. They are the key to the e-commerce development and economic growth in China for the next decade.

Foreign media also mentioned in their reports that China is now more advanced in the digital field, considering the essential role “Internet plus” is playing in its digital economy.

French newspaper Les echos said China is now leading the reform of the digital economy globally and “Industry 4.0” or the fourth industrial revolution led by “Internet plus” is also on the way.

German newspaper Handelsblat commented that China has increased the popularity of its national brands with advanced technology in its electronic devices. “Made in China” is now seen as a high-quality brand rather than just a cheap one.

According to foreign media, the Chinese-style innovation exerts a great impact on the global economy.

Le Temps of Switzerland said the uniqueness of innovation in China has laid solid foundation for a global-scale innovation.

Singapore newspaper Zaobao suggested that China has now developed its own innovation ecosystem so it needs to train more talents to meet the enterprises’ needs and further improve both innovation ability and supervision level.