Business / Economy

Expert says China on an economic turning point

(Xinhua) Updated: 2016-03-21 13:42

"Only a few large companies like Huawei make investments for real innovations...This is too little. Even small businesses need to have innovations," the professor said.

The links between companies have to improve, Goebel said, "It can be seen in the Pearl River Delta already. The companies there are already linked well. However, the rest of China have to follow this model." For the professor, the main requirements for innovation are loans, skills, technology and education.

Goebel is fascinated by the huge urbanization plan of the government. He called it the biggest experiment of mankind. "This has never been seen in history. In principle, the whole of China is divided and major city centers with connections between them will be established," the professor noted.

The professor thinks that the idea to bring people and industries into a same place is very interesting. "That is very exciting and courageous. It could work, if there is a structure in which you both consume and produce regionally," he said.

Nevertheless, the urbanization process is a big chance." The government could do a lot right, if they learn from the experiences in China and other countries," Goebel said, adding that "the Chinese government is always willing to learn. This is a very good thing."

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