China encourages global companies to establish innovation centers

China's latest move, encouraging global companies to establish innovation centers in the country, will help to advance its high-level opening-up and global economic growth, said a senior government official on Wednesday.

The remarks come as the government said that it will support foreign-funded research and development centers to use large scientific research instruments, as well as reports and relevant data of major national science and technology programs in accordance with the law within the country, according to a statement released by the State Council on Wednesday.

The new policy will facilitate multinational corporations to exploit new business opportunities relevant to local markets, said Chen Chunjiang, assistant minister of commerce.

He said the government will encourage Chinese universities, scientific research institutes and vocational schools to cooperate with foreign-funded research and development centers to make technological breakthroughs, all while keeping their intellectual property rights will be protected.

Foreign-invested research and development centers will be supported to undertake national science and technology tasks, and participate in key national science and technology projects, said the government statement.

Eager to reinforce its local innovative strength, French multinational Schneider Electric SE put a power supply and energy storage-themed innovation facility into operation in Shanghai on Tuesday.

It will provide solutions to meet the customer needs through strategic positioning and foresights around the mega-trends of high-power platforms, standardization, digitization, automation and green development, said Lu Bin, senior vice-president of Schneider Electric.