But they can’t innovate…

Nano lab Suzhou China

Vacuum Interconnected Nano-X Research Facility in Suzhou, China (Source: News Agency of Nigeria)

The complacent, self-satisfied conventional wisdom that China is incapable of matching, let alone surpassing, the West on innovation takes another body blow:

Most European firms operating in China think that their local counterparts are on the same level or even better in innovation for the first time, according to a survey co-collected by the European Union’s commerce chamber in China.

Some 61 percent of the respondents from 532 firms answered that Chinese companies are equally competitive in creating goods and services or even superior, which is double the number from a year ago, according to the survey done by the EUCCC and German consultancy firm Roland Berger. This marks the 12th year that the study has been executed.


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