China’s Innovation Ecosystem: The Localisation Dilemma
On 21st April 2023, the European Chamber, in partnership with the Mercator Institute for China Studies (MERICS), published China’s Innovation Ecosystem: The Localisation Dilemma. Based on a member survey and in-depth interviews, the report highlights that the complexity of China’s business environment is necessitating a wide range of research and development (R&D) strategies to be deployed by European companies.
"European companies in China that are competing fiercely for market share often see R&D localisation as their ticket to staying ahead of the curve", said Jörg Wuttke, president of the European Union Chamber of Commerce in China. "However, a notable tempering of future R&D investment ambitions among [multinationals] shows that perceptions about China’s innovation ecosystem reflects broader business sentiment, which has been greatly eroded by the increasing unpredictability of doing business in China."
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