Private companies have been encouraged to play a bigger role in innovation. Photo: AP

China’s top science bodies may hand out honorary titles to private sector amid tech push

  • CAS and CAE – which give policy advice to the government – have nominated at least seven specialists from private firms for the titles since start of the year
  • The unusual move is seen as ‘major progress’ and comes as Beijing pursues goal of becoming global tech superpower
Topic |   China science

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Private companies have been encouraged to play a bigger role in innovation. Photo: AP
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A screen shows a demonstration of Chinese AI firm Horizon Robotics’ facial recognition software. A Credit Suisse report said that most of China’s R&D spending is in experimental development. Photo: Reuters

China no match for US unicorns in AI, big data and robotics as it continues to play catch-up in R&D, says Credit Suisse

  • China’s share of hi-tech unicorns of 14 per cent versus 40 per cent for the US has much to do with the country’s inadequate advanced R&D capability
  • China accounts for almost 30 per cent of the world’s unicorns, which have an overall valuation of more than US$1 trillion
Topic |   Start-ups

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A screen shows a demonstration of Chinese AI firm Horizon Robotics’ facial recognition software. A Credit Suisse report said that most of China’s R&D spending is in experimental development. Photo: Reuters
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