China's first approach has been to purchase patents. It spent $35.6 billion on intellectual property rights purchases in 2018, of which a quarter was paid to the US.
The second approach is through learning. China began to send students abroad every year for studies. A total of 360,000 Chinese students are studying in US schools and universities. China has learned about technologies through learning and following the management techniques of developed countries and multinational corporations. Read more
Pillars of Support
There are clear signs Africa's debt problem needs to be addressed. Unlike the charitable assistance from Western countries, which comes with various affiliated conditions, China is able to provide "coordinated industrialization" aimed at cultivating African countries' self-development abilities. Most African countries gained their independence in the 1970s. In the early days of independence, Africa's debt problems were not serious. During the Cold War, both the Soviet Union and the West tried to draw Africa to their side and provided huge loans that led to a rapid rise in the debt ratio of African countries. Read more
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Consulate General of Australia in Guangzhou
Delegation Visits CDI
On July 30, Jason Robertson, Consulate General of Australia in Guangzhou and Leslie Li, Government Relationship Manager visited CDI. CDI experts, led by Dr. Guo Wanda, Executive Vice President attended the meeting. Discussion surrounded the development of Guangdong-Hong Kong-Macao Greater Bay Area. Both sides exchanges views on quo status of foreign direct investment and issues concerning the business disputes between foreign and domestic companies in China’s Greater Bay Area. CDI experts also shared current condition of science and technology commercialization and industrialization in Shenzhen Special Economic Zone.
...According to a statement of the ninth meeting of the central committee for deepening overall reforms of the Communist Party of China on July 24, the country will support Shenzhen in building a pilot demonstration area of socialism with Chinese characteristics.
In the development of the Shenzhen pilot demonstration area, the statement said it is imperative to adhere to reform and opening-up, fulfill the requirements of high-quality development and implement an innovation-driven development strategy.
"The statement emphasizes Shenzhen's mission and responsibility," said Guo Wanda, executive vice-president of Shenzhen-based think tank China Development Institute.
"Shenzhen's high-tech and innovation is a symbol of China and is important on the global stage. The city is asked to demonstrate how to achieve innovation-driven and high-quality development."...
Based in Shenzhen, Guangdong Province, China Development Institute (CDI) is a non-governmental and market-oriented think tank which was founded in 1989 on approval from the Chinese State Council. CDI was designated as one of the 25 China Top Think Tanks in 2015.
CDI develops solutions to public policy challenges through broad-scope and in-depth research to help advance China’s reform and opening-up. CDI is committed to providing proactive, innovative and practical research and consultation for China’s central and local governments and businesses at home and abroad. Its research and consultation is centered on macro strategy, regional economy, urbanization, industrial development, business strategy and decision-making.