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English>>China Business

It's now time to re-tool the 'world's factory' (2)

By Chen Xin (China Daily)

13:20, September 12, 2012

"Chinese companies were initially copying, but now they are developing things themselves," he said. "Look at Huawei, one of the biggest patent holders in the world. I'm sure we will see more of that as China's development path continues - just copying what others have done is not sufficient."

In its efforts to become an innovative nation by 2020, China plans to raise the proportion of GDP invested in research and development from 1.8 percent in 2010 to 2.2 percent in 2015.

A program to recruit global experts begun in 2008 aims to attract about 2,000 overseas professionals to work on innovative projects.

Another recruitment initiative launched late last year plans to hire 500 to 1,000 top foreign professionals over the next decade to help with innovation and scientific research.

Each province, municipality and autonomous region has also formulated plans to attract overseas talent to help boost local development.

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