Buying university ideas and solutions becoming a trend
China Daily | Updated: 2014-09-12 07:42
Having exhausted its cheap labor and resources, which boosted the city's double-digit growth for nearly 30 years, Wuxi faced pressing needs of innovating its industrial technologies.
Wuxi has turned to "foreign brains". The government vowed to invite at least 30 leading engineers to help its industries by 2012, and meted out one of the most generous assistance programs in China to help innovative people industrialize their ideas after 2008.
Yet when the government's support goes to extremes, its support becomes interference that distorts market relations. Emerging industries soon face overcapacity.
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