China’s R&D Surge Leads Global Innovation Rankings in 2016
The 2016 Global Innovation 1000 report by PwC’s Strategy& reveals that Chinese companies, led by Alibaba, dramatically increased R&D spending, boosting their share of global innovation and shifting from cost competition to technology‑driven growth.
PwC’s Strategy& research report on the 2016 Global Innovation 1000 shows Chinese companies leading the world in R&D spending growth, with Alibaba topping the Chinese listed‑company innovation list.
In 2016, 130 Chinese firms entered the Global Innovation 1000 (up from 123 in 2015), with total R&D expenditure reaching $46.8 billion, an 18.6 % increase over the previous year’s $39.4 billion. Chinese firms’ share of total R&D spending among the 1000 companies rose from 5.8 % in 2015 to 6.9 % in 2016.
Alibaba and ZTE overtook PetroChina for the top two spots on the Chinese list, marking the first time since 2005 that PetroChina lost the leading position. Huawei is absent because it is not publicly listed.
According to Xu Jin, partner and head of digital strategy consulting for Greater China at Strategy&, “While Europe and Japan saw declining innovation spending in 2016, China’s 18.6 % increase led the globe, outpacing North America’s 8 % growth. Innovation has become a national development strategy in China, and companies are shifting from cost‑competition to technology‑driven innovation to succeed globally.”
Follow Alibaba’s official technology account:
Signed-in readers can open the original source through BestHub's protected redirect.
This article has been distilled and summarized from source material, then republished for learning and reference. If you believe it infringes your rights, please contactand we will review it promptly.
Alibaba Cloud Developer
Alibaba's official tech channel, featuring all of its technology innovations.
How this landed with the community
Was this worth your time?
0 Comments
Thoughtful readers leave field notes, pushback, and hard-won operational detail here.