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2014 China Innovation Survey: China’s Innovation is Going Global

When I was in China a few years ago talking about Innovation, the view there was that Innovation would have to wait an entire generation before surfacing. I was therefore surprised to come across Strategy&’s recently completed 2014 survey of Innovation in China.

Some of its findings: in China, innovation is the first priority for 42% of Chinese companies, compared to 21% of MNCs, according to a 2014 China Innovation Study completed by nearly 400 executives from Chinese and foreign companies. Chinese companies are increasingly turning to technology to deliver first-to-market innovations, building on their historic strength in understanding local markets and customer needs. On the other hand, multinationals also realize that local innovation must rely on a deep understanding of local customer needs. Meanwhile, innovation plays an important role in Chinese companies’ globalization strategies. 

Innovation is the wellspring of success in the China market. There is no other path forward — only fierce innovators will thrive. The China Innovation survey, now in its third year, shows that Chinese companies and multinationals alike are continuously and rapidly innovating as they jockey for position.

Read the report here.

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