Throughout its history, China was a hub for technology and innovation; however, over the past two centuries the country fell behind. When China opened its economy in the 1980s, it started with a low-margin and low-tech original equipment manufacturing model, and slowly but steadily moved up the value chain, upgrading its business model. Innovation has become extremely important in modern China, becoming a key national strategy for economic growth, and the government has developed intellectual property laws and other strategies to further encourage technological development and successful innovation.
CITATION STYLE
Zhong, H., Winton, L., & Krosinsky, C. (2020). China and innovation. In Modern China: Financial Cooperation for Solving Sustainability Challenges (pp. 29–53). Palgrave Macmillan. https://doi.org/10.1007/978-3-030-39204-8_3
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