China to do more on research and development
28/08/2007
A new report from the Organisation for Economic Co-operation and Development (OECD) has said Chinese companies must invest more in research and development if the country is to achieve its aim of becoming the world's most innovative economy by 2020.
The organisation said too much of the research and development that was going on at present—with the leather industry one of the sectors it gave as an example—amounted to no more than a transfer from overseas investors of business practices that were well established outside China.
It said more original thinking from Chinese firms themselves was required.
