For a long time, people have been saying that China’s strength is not in technology innovation, but if you take a closer look at what has been going on inside of China, you might think differently. David Aikman, the Representative Officer and Managing Director of Greater China World Economic Forum (WEF), shared his thoughts on the current state of China’s tech development and innovation on the TechCrunch Hangzhou stage. Aikman believes that there is a disconnect in how the world is perceiving China and what is really going on in China in terms of innovation.

A big focus for the WEF effort is on emerging technologies—the so-called 4th Industrial Revolution—because technologies have so much potential for solving the world’s problems and reap massive benefits to society. Aikman said China is embracing the 4th Industrial Revolution better than many countries and he is surprised by how fast China is developing. A lot of Chinese tech companies have started to emerge over the past few years and many are already making significant contributions to the country’s GDP growth.

Going global is going to increase the innovation capacity of Chinese companies. Aikman said their previous research shows when companies are exploring overseas markets, it makes them much more innovative and competitive in the domestic market. This is because the very challenge of going out to tap the needs of overseas customers in new markets and new regulations force the companies to adjust their services and solutions.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.