Foreign investments fuel China’s R&D surge: MGI member firm Acclime China explains
“China’s commitment to becoming a global innovation leader has ushered in a series of transformative policy measures to enhance foreign investment in research and development (R&D). This strategic move is not merely about enhancing China’s technological capabilities; it’s an open invitation for global businesses to participate in one of the most dynamic R&D ecosystems in the world.”
Acclime China, explains:
Over the past two decades, China has rapidly closed the gap in global R&D spending, emerging as a formidable force in science and technology. From contributing less than 5% of global R&D funding in 2000, China's share soared to over 24% by 2020, surpassing other leading nations.
Financial incentives
China's blueprint for R&D excellence involves empowering foreign-funded R&D centres through policies facilitating fundamental research, access to national programs, and substantial support in infrastructure and funding. Tax incentives, streamlined approval procedures, and educational collaborations underscore China's multifaceted approach to fortifying its R&D landscape.
Fiscal policy enhancements, including expanded pre-tax deductions and eligibility criteria refinement, demonstrate China's commitment to nurturing innovation through economic stimuli. Furthermore, China's efforts to streamline management systems and talent influx facilitation aim to create an environment conducive to innovation.
Intellectual property rights
China's heightened focus on intellectual property rights (IPR) protection is pivotal, with stringent legal frameworks and enhanced enforcement mechanisms fostering an environment of trust for technological exchange. At the local level, cities like Shanghai play a crucial role in China's quest for global R&D dominance, exemplified by comprehensive plans to bolster foreign R&D centers.
In conclusion, China's commitment to global innovation leadership is underscored by transformative policy measures aimed at attracting foreign R&D investment. By cultivating a dynamic R&D ecosystem and implementing a robust policy framework, China enhances its technological capabilities and invites global collaboration, solidifying its position as a science and technology powerhouse.
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For more information visit the Acclime China profile page or website, or get in touch with Maxime Van ‘t Klooster [email protected]
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