Today I attended an interesting seminar about innovation in China, arranged by Vinnova.
A Chinese GDB growth of 8.9% Q3 2009, no crisis there….By 2020 China will invest 2.5% of their GDP in R&D in order to become an innovation-oriented society.
The problem in China according to Mr John Chiang from Peking University is a lack of entrepreneurship. The byrocrats decide the winners, but ususally those companies turn out to be tomorrows loosers.
Mr Magnus Breidne from Growth Analysis highlighted the unique Chinese model of state control and private sector, which make it impossible to forecast the success of the Chinese innovation strategy. The big challenge is that the innovations are producer-driven instead of consumer-driven. Another interesting fact is that the start-ups is driven by returnees to China and MNC’s.
Personally I think that a good innovation atmosphere is hard to combine with a a socialist society and that it will be one of China´s most important challenges in the future.
Kind regards,
Gustav Gorecki
