Taking path of innovation for sustainable growth

Chinese companies are increasingly investing in research and development and becoming leading innovators globally, says George Yip, a professor of strategy at the China Europe International Business School.

Yip, who is also co-director of the CEIBS Centre on China Innovation, says Chinese companies are driven to innovation partly because of fierce competition in the domestic market and consumer demand.

"Everything is trending upward in terms of Chinese science publications, technology intensity and foreign R&D centers," Yip says. "China is not at the stage of Western innovation like Germany and Japan, but it is rapidly catching up."