Xu Jing, Director-General of the Department of Development Planning under China’s Ministry of Science and Technology, says that China provides a promising environment for technological development, as an increasing number of companies are realizing the importance of innovation.
One reason is that China has transitioned from a planned economy to a market-oriented economy.
What that has meant is that Chinese companies are now incentivized to develop cutting-edge technology in order to survive the fierce market competition, said Xu.
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