Top 5 Forecasts in 2019 for China’s Innovation
2019-8-25 Author：Jili Chung
In August 2018, at MIT we published a book Innovation’s Crouching Tiger, introducing China’s innovation trends that presented not only threats but also opportunities (depending on your views in co-competition). That was on the eve of the US-China Trade War.
As the year went by, when we look back, the top 5 trend forecasts mentioned in the book had been materialized today and will continue to change the balance of co-competition down the road.
Top 5: Collaboration with research institutions. China considers it essential to build up innovation ecosystems around campuses like the models of MIT or Stanford. But while private R&D expenses decrease as the economy slows down, research institutions are now driving fundamental research with fuels from the public sector.
Top 4: FDI (foreign direct investment) liberalization. China’s FDI regulations are moving toward a level play field, benefiting global players seeking for cross-border cooperation, especially in technology or financial areas. (See Would you marry me ? with an IP ring in China.)
Top 3: IP financing – Patent pledge. The government continues to put in enormous resource to incentivize financial institutions, high-tech companies, or valuers who participate in the pilot programs of patent pledge. (See How IP Played Differently in China - not used as weapon, but pawned for money).
Top 2: IP financing – IP securitization. At the end of 2018, the market saw the first IP securitization deal (mainly copyrights). In July 2019, as the third in a row, the first patent securitization deal debuted. (See First Patent Securitization Deal Approved in China.)
Top 1: You Cannot Wait and See. In the book we advise “you can choose to collaborate or to compete; but cannot afford to wait and see.” The co-competition between China and the US will undoubtedly continue for decades. No matter where you are, their cooperation, disputes, debates, good news and bad news will remain a focus of attention as they shape almost every aspect in global economy. No one will remain unaffected by this most intense yet unpredictable dynamic of the century.” （See What would Sunzi (the legendary author of Art of War) say about Trade War?)
Now, everyone sees the Top 1 unfolding. Get your road map and compass for the uncharted waters ahead!
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