2 ways China is quietly improving its innovation
By Dr Wealth  •  June 24, 2021
Did you know that China ranked 14th in the Global Innovation Index*, although they are only 56th in the world in terms of GDP per capita? * the Global Innovation Index is a study conducted since 2007 and co-published by Cornell University and the UN’s World Intellectual Property Organisation Over the last decade, China has become one of the rising stars of global innovation in terms of its ground-breaking advances in key sectors like e-commerce and cashless payment. According to the Global Innovation Index, “China stands out for producing innovations that are comparable to those of the high-income group”. Is there a possibility that they would actually overtake the rest of the world? Let’s take a look: In the survey done by the Boston Consulting Group (BCG) that ranked the top 50 most innovative companies in 2020, 5 out of the 50 companies were from China:
  1. Huawei- 6th rank (from rank 42 in 2019)
  2. Alibaba- 7th rank (from rank 16 in 2019)
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By Dr Wealth
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