Killer Innovations: reblog

According to a survey conducted by the National Bureau of Statistics in China, the most innovative city in China is Shanghai. Other cities cracking the Top 10 included Hangzhou, Qingdao, Shenzhen, Suzhou, Beijing, Changzhou, Yantai, Guangzhou and Shaoxing. For close followers of the Chinese innovation scene, these findings may not come as a shock, but I was personally a bit surprised to find Beijing at #6. Anyway, the survey also looked at the pace of R&D spending in China, the composition of this R&D spending, and the primary sources of funding for this R&D research:

"The survey found that that the majority of research and development funding is spent on improving existing products and technology; only one third is spent on developing new products and basic research programs. According to the survey, 33% of funds are used to improve efficiency and reduce the costs of production; 31% is spent perfecting current technology, and doing research to widen the uses of products; 24% is spent on the development of new products and technology; 9% is used in basic research; the remaining 3% is spent elsewhere. The survey also found that internal revenue-raising is the major source of funds for innovation. Over 75% of funds come from the enterprises themselves, 12% from loans, and less than 5% from the government, partners and capital market."

[image: Shanghai skyline via TravelBlog]