Latest News:  


Chinese private firms lack innovation spirit: report


08:53, December 24, 2012

BEIJING, Dec. 23 (Xinhua) -- Privately-owned companies in China rely on copying their counterparts' technology with few bothering to improve and innovate, a report has concluded.

The Report on Chinese Non-governmental Enterprises' Competitiveness 2012 found that of those surveyed 36.4 percent of the country's private companies had not set up their own research and development center during the past three years.

The report, released Saturday by the Center for Private Economy Studies under the Chinese Academy of Social Sciences, surveyed 622 private firms in 19 provinces and municipalities. It included Zhejiang, an eastern region boasting many private companies.

"The overall independent innovation capabilities of Chinese privately-owned companies are relatively weak and they are in urgent need of transforming and upgrading their industrial development mode," the report concluded.

According to the report, only 35.2 percent of enterprises have shifted from labor-intensive products to those with high technical input in the past three years.

While urging private enterprises to break away from traditional development methods, the report proposed the country set up a public technology service network that will help companies to utilize latest technological breakthroughs.

In addition, the report recommended favorable taxation and financing systems that will ease private companies' financial burdens during the transformation.

We recommend:

'Boeing Dreamliner riddled with errors

The spending of China's rich

China to open world's longest high-speed railway

Christmas Wedding Expo closes in Hong Kong

Harbin-Dalian high-speed railway starts operation

New wave of communication tools

Alibaba's 2012 transaction volume hits 1 trln yuan

China's savings rate world's highest

IPhone 5 goes on sale in China


Leave your comment0 comments

  1. Name


Selections for you

  1. Weekly review of military photos (2012.12.17-12.21)

  2. Famous female political leaders of the world

  3. Animals receive Christmas treats at ZSL Whipsnade Zoo

  4. China's weekly story (2012.12.15-12.20)

  5. Beijing swimmers brave freezing cold

  6. On Beijing-Guangzhou high-speed railway

  7. Beijing: A vigorous and beautiful city

  8. Best trips for Christmas 2012

Most Popular


  1. Why the young Chinese get physically weaker
  2. Why Discover China is popular in the West
  3. The laughter sounds too harsh
  4. Do not confuse Confucious with Santa Claus
  5. Losers' can flatter themselves in any culture
  6. Time to abandon Olympic obsession

What’s happening in China

People in Hainan enjoy warm weather

  1. China arrests 96 in doomsday cult's birth province
  2. 7 dead, 1 injured in NW China pile-up
  3. Officials to line up for Beijing buffets
  4. 58 students affected by suspected food poisoning
  5. 3,117 school buses put into service in Gansu