China Anew – the “New China” growth story
January 15, 2018
China’s policies has been gradually shifting to sustainability and “quality” of growth rather than quality, and one part of the multi-pronged approach to reach this target is innovation. The Chinese government has been fostering innovation in recent years through its “China Manufacturing 2025”, leading to R&D expenditure reaching 2.1% of GDP in 2016, compared to less than 1.4% a decade ago. However, slowing GDP growth remains a concern for investors and many are anxious to see if “new China” will bring growth back to China. Meanwhile, two major “new China” companies are seeking funding, adding a hopeful touch to the theme.
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