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Most of us use products made in China every day and are aware of its growing economic power as a factory to the world. But China intends to become a developed nation by mid-century and integral to this ambition is its intense focus on innovation. In a very few decades, Chinese companies had evolved from imitators to imaginative and effective innovators.
Most of us use products made in China every day and are aware of its growing economic power as a factory to the world. But China intends to become a developed nation by mid-century, and integral to this ambition is its intense focus on innovation. In a few decades, Chinese companies have evolved from imitators to imaginative and effective innovators.
Businesses and governments around the world are watching as China grows, innovates and extends its influence. We explore how the country got to where it is and what might be in store for its future in our series Understanding China’s Influence. Most of us use products made in China every day and are aware of its growing economic power as a factory to the world. But China intends to become a developed nation by mid-century and integral to this ambition is its intense focus on innovation.
A version of this article appeared in the Autumn 2015 issue of strategy+business. Just 15 years ago, China was home to 200 foreign-run R&D centers. Today, multinationals operate more than 1,500 innovation facilities throughout the country — and this number is poised to increase 20 percent by 2018 (see exhibit). But this trend involves more than sheer presence.
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