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Shanghai in forefront of global innovation
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SHANGHAI is an ideal spot to develop as a global innovation center because foreign companies see the growing importance of the Chinese market, business leaders said in Shanghai yesterday.
“Shanghai is an ideal location for research and development activities due to its sound regulatory environment, outstanding talent pool and its vicinity to real market needs,” said Chen Xiangli, general manager of GE China Technology Center, at an innovation forum held by the Shanghai Commission of Commerce.
Qian Wei, director of Rockwell Automation Shanghai Research Center, said the company’s investment in research and development in Shanghai has increased over the last 15 years and the city has also improved its intellectual property rights protection.
Local companies are more aware of intellectual rights issues and the legal system has become more effective in addressing disputes, making Shanghai an ideal destination to develop cutting-edge technologies, according to Qian.
Representatives from Lanxess, ThermoFisher, and BASF also said their local research and development will focus on the needs of Chinese customers.
Chen said the multinational companies’s R&D is partly driven by changing and special needs of the Chinese market.
The foreign companies also said that most of their research work is focused on environment protection and energy saving.
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