ue to their cost advantage and rapidly growing domestic demand driven by income growth form the basis of their expan

上海会所ding scales. But the greatest factor driving Chinese enterprises’ continuous development is innovation.

Reform will promote innovation. Innovation will generate new demand and prompt Chinese enterprises to impr

上海会所品茶微信ove their quality, while technological innovation is key to their development and expansion. And to c

hange their long-term dependence on low-end products, the Chinese companies, with the government’s active h

elp, have invested more in research and development to facilitate their qualitative growth and expansion.上海会所

Last year, China’s total investment in R&D accounted for 2.18 percent of GDP, equivalent to the average of OECD countries, with the average R&D intensity o

上海会所f high-tech enterprises and A-share listed companies being about 3 percent and 4.87 percent.

Higher R&D investment has increased the enterprises’ capacity for independent innovation and competition advantage.

In particular, since the 18th National Congress of the Communist Party of China in November 2012, which for上海会所

mulated the innovation-driven development strategy and five new development concepts, Chinese en

上海会所品茶微信terprises have increased R&D investment and achieved remarkable breakthroughs in core technologies. In

fields as important as aviation, railways and 5G technology, Chinese enterprises have even taken a leading position.

Huawei is a good example of an innovation-driven high-tech Chinese company.上海会所

For years Huawei’s R&D intensity has been above 14 percent. In actual terms, Huawei’s R&D investment las

上海会所品茶微信t year was 101.5 billion yuan ($14.77 billion)-the fifth-highest in the world and more than that of Microsoft, Apple an

d Intel. Also, by the end of last year, Huawei had more than 87,800 global patents. No wonder Huawei’s R&D in

vestment and abundant innovation have placed Huawei at 61 on the 2019 Fortune Global 500 list.上海会所品茶微信

And despite Washington preventing US companies from selling components to Hua

wei in the first half of this year, the company’s mobile phone shipment grew continuously.

上海会所Since the beginning of this century, Chinese companies have been

applying or trying to apply modern information technology to improve production and ope

rations. The Internet Plus strategy has helped expedite the integration of enterprises and the inte上海会所品茶微信

net. And many enterprises have achieved rapid growth by making use of innovative business models thanks to IT.

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