New-Loong Report: "Made in China" is no longer a Cheap subst |
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"Made in China" is no longer a Cheap substituting name
The Paris-based Organisation for Economic Co-operation and Development in conjunction with Chinese researchers co-authored a paper. “The time when foreign investors invested in China only to take advantage of cheap manufacturing platforms is over,” the report says.
The OECD said “its best guess” was that foreign research and development now accounts for about 25-30 per cent of all business R&D in China. In this respect, the foreign share of R&D in China is similar to that in many European countries.
Multinationals' R&D is focused on information technology because of China's strength in mobile communications and the manufacture of computers. But it is also spreading into other sectors, including biotech, drugs and autos.
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