Chinese firms were improving innovation significantly between 2017 and 2018, according to a survey by the European Chamber of Commerce. Over the past few years China has implemented a policy which focuses on mass entrepreneurship, technology and innovation.
Over 34% of European companies doing business in China said that the Chinese competition was more innovative, and a 28% said that they were equally innovative. China possesses a critical mass of innovation and entrepreneurial spirit.
Chinese innovators are now beginning to level the playing field. The Chinese government hopes that the private sector and innovation will become the new drivers of the economy.China aims, through the 'Made in China' strategy, to become a world leader in key industrial sectors, by 2025.
Image source & credits: https://www.statista.com/chart/18161/innovation-potential-chinese-companies/