China is now a global player in R&D, spending as much as Germany, yet it lags in innovation capability and performance compared to OECD countries with similar R&D investmentsaccording to the Organization for Economic Cooperation and Development (OECD). Foreign investment in R&D, OECD says, has grown rapidly in recent years and plays a significant role in China’s national innovation system.
Provided that reforms are made, as recommended by a recent OECD report, China has the potential to become a major innovation player in the near future. OCED says this should benefit both China and the rest of the world, as stronger innovation in China will contribute to the global knowledge economy and to addressing global challenges. To manage its integration into the global knowledge economy, the organization notes that China and OECD countries need to maintain a spirit of dialogue and cooperation, notably on issues such as IPR, technology transfer, and technology standards
For more information, visit www.oecd.org/sti/innovation/reviews/china.
to Daily News