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MNCs boost research spending in city
By Zhu Shenshen |
November 12, 2010, Friday
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Print Edition
Print Edition
FOREIGN multinational corporations such as 3M Co and Cisco Inc have increased investment in research in Shanghai, city officials said yesterday.
A total of 316 foreign companies have set up research and development centers in Shanghai by the end of October, with 47 of the centers boasting an investment of more than US$10 million each, Tang Dengjie, Shanghai vice mayor, told the 2010 Shanghai Foreign R&D Center Forum.
For decades, foreign multinationals have sold modified Western products to emerging markets.
Now they embark on "reverse innovation," which refers to developing new products in China and distribute them globally, according to Tang.
"The research centers have boosted the city's technology level and attracted high-end professinals from the world," said Jian Heping, vice director of the Shanghai Commerce Commission.
Work done in the local centers mainly focuses on research of new materials, cloud computing and green energy, speakers from Cisco, 3M, Hitachi, Honeywell and Bayer told the forum.
The research projects are closely connected with Shanghai's plan to develop several "strategic" industries, from new-energy cars and new materials to next-generation network, according to industry insiders.
Intel Corp invested US$2.5 billion to build a wafer plant in Dalian, a midsized city in Liaoning Province in northeast China, and moved its Shanghai chip assembly and testing to Chengdu, capital of southwest China's Sichuan Province.
But the world's biggest chip maker still regards Shanghai as its research headquarters in China and planned to increase investment here.
A total of 316 foreign companies have set up research and development centers in Shanghai by the end of October, with 47 of the centers boasting an investment of more than US$10 million each, Tang Dengjie, Shanghai vice mayor, told the 2010 Shanghai Foreign R&D Center Forum.
For decades, foreign multinationals have sold modified Western products to emerging markets.
Now they embark on "reverse innovation," which refers to developing new products in China and distribute them globally, according to Tang.
"The research centers have boosted the city's technology level and attracted high-end professinals from the world," said Jian Heping, vice director of the Shanghai Commerce Commission.
Work done in the local centers mainly focuses on research of new materials, cloud computing and green energy, speakers from Cisco, 3M, Hitachi, Honeywell and Bayer told the forum.
The research projects are closely connected with Shanghai's plan to develop several "strategic" industries, from new-energy cars and new materials to next-generation network, according to industry insiders.
Intel Corp invested US$2.5 billion to build a wafer plant in Dalian, a midsized city in Liaoning Province in northeast China, and moved its Shanghai chip assembly and testing to Chengdu, capital of southwest China's Sichuan Province.
But the world's biggest chip maker still regards Shanghai as its research headquarters in China and planned to increase investment here.
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