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High-growth market fuels best R&D climate in China
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  • //english.dbw.cn  2015-11-03 10:39:43
     
     

    An exhibitor flies a drone during a demonstration at the 35th HKTDC Hong Kong Electronics Fair(Autumn Edition) in Hong Kong, China, Oct 13, 2015. [Photo/IC]

    China has become the most popular destination for research and development activities byoverseas companies thanks to the presence of a high-growth market and key manufacturingsites, a new survey said.

    The survey, conducted by Strategy&, a unit of global consultancy major PricewaterhouseCoopersLLP, said that total R&D investment in China has risen to $39.4 billion till date, a 3,285 percentgrowth from the $1.2 billion a decade ago.

    The 2015 Global Innovation 1,000 Study, released on Monday, was the 11th consecutive reportpublished by the firm.

    The report said the total R&D spending of the top 1,000 global companies increased 5.1 percentto $680 billion this year till date.

    There are 123 Chinese companies now on the global top 1,000 list, nine more than last year. In2005, there were only 8 Chinese companies in the top 1,000. The total R&D spending byChinese companies' surged 31.6 percent year-on-year this year, accounting for 5.8 percent ofthe total.

    From 2007 to this year, the total R&D spending by overseas companies and institutions in Chinarose by 79 percent, mainly as a result of United States companies' investment.

    China's strong growth in imported R&D also helped the country overtake Germany and Japan tobecome the second-largest destination for in-country R&D, at $55 billion.

    About 71 percent of the survey respondents said proximity to a high-growth market is the majorreason for moving R&D functions to Asia, especially to China. Proximity to key manufacturingsites and to key suppliers, as well as lower development costs, are also reasons for moving toChina.

    The quality of the R&D results reached in China, however, has also been increasing over the pastfew years, according to Steven Veldhoen, a partner with Strategy&.

    The complexity of the patent applications made by multinational companies in China has risenconsiderably. Many are beginning to start the concept or the preliminary stages of their R&Dwork in China, he said.

    The largest Chinese R&D spender is PetroChina Co, with total investment reaching $2.1 billion.Alibaba Group Holding Ltd, which went public in September 2014, has entered the GlobalInnovation 1,000 list for the first time with a total research and development spending of $1.7billion, ranking 84th worldwide.

    Veldhoen said that Shenzhen-based Huawei Technologies Co Ltd would have figured in theglobal top 20 for the first time if it were a listed company.

    Based on public information announced on its official website, Huawei would have been ranked16th on the global top 1,000 list, just behind auto major Ford Motor Co but ahead of tech giantApple Inc.

    "Chinese companies learn quickly and are ultra-flexible, especially privately owned companies.The power of Chinese innovators will increase further, especially in industries such as high-tech,digital and e-commerce, in which Chinese consumers are also at the cutting-edge," saidVeldhoen.

    The results were also in line with the latest findings of Market News International, a wholly ownedsubsidiary of Deutsche Borse Group.

    Those showed that Chinese companies' confidence index rose 4.3 percentage points to 55.6percent in October from September, a record high since March 2011.

    Analysts at MNI said that companies with stronger technology support which started theirtransformation earlier are becoming the new driving power of China's economic growth.

     

    Author:    Source:China Daily    Editor:Yang Fan

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