Innovation in China - What's the Biggest Change?

The report focuses on IP and financing, which have changed a lot over the past few years. China now spends very similar to what OECD countries spend in terms of R&D as a percentage of GDP. Although venture capital and private equity have boomed in China, these are not particularly adventurous venture capitalists. Most of these investors are looking for good returns. And they don't like to invest in technologies which have a very low commercial consequence.