Most of us use products made in China every day and are aware of its growing economic power as a factory to the world. But China intends to become a developed nation by mid-century, and integral to this ambition is its intense focus on innovation. In a few decades, Chinese companies have evolved from imitators to imaginative and effective innovators. As part of my research with my colleague George Yip on this issue, we identified three key phases in China’s development:
