Reference News Network, July 11 report: On July 3, the Bangladesh Daily Star website published an article by its Chief Business Officer Muhammad Tazuddin Hasan titled "China, from Imitator to Innovator," as translated below:

I have just concluded an extraordinary week in Shenzhen and Guangzhou, part of a China visit organized by the Swiss Stars Foundation. This program brings together a group of energetic global leaders and provides an excellent opportunity for us to learn directly from international leading companies, "unicorn" companies, and startups.

From autonomous vehicles to AI-driven urban landscapes and sustainable technologies, this visit gave us a hands-on understanding of the current state of China's economy and the opportunities it offers to foreign enterprises.

Besides technological wonders, what impressed me most was China's conscious and systematic approach to encouraging innovation. I returned home deeply inspired and wish to share some important insights from this journey, which are valuable not only for businesses but also for policymakers, educators, and entrepreneurs.

The era in which China merely copied Western technology has ended. Now, local giants are setting global benchmarks in artificial intelligence, electric vehicles, and quantum computing. This shift from imitation to invention is no accident; it is the result of strategic investments in R&D, education, and talent development.

China's development journey offers a model for any country seeking long-term competitiveness. From reliance to self-innovation, it requires substantial investment in STEM (science, technology, engineering, and mathematics) education and high-tech research.

The innovation boom in China is driven not only by the market but also by policy guidance. The support provided by the government through subsidies, tax incentives, R&D incentives, and infrastructure development is crucial for turning ideas into scalable businesses. Initiatives such as "Made in China 2025" and government-backed venture capital funds ensure that breakthroughs in fields like artificial intelligence, 5G, and green energy achieve commercial success. Effective innovation requires public-private collaboration; the government must create a favorable environment to drive technological advancement by providing financial support, regulatory sandboxes, and research grants.

Cities such as Shenzhen, Shanghai, and Beijing have developed into innovation hubs by concentrating talent, capital, and infrastructure in one place. The example of Shenzhen, which rose from a fishing village to a global tech center, illustrates how geographical strategy and urban clusters can catalyze innovation.

Chinese entrepreneurs act quickly, take bold initiatives, and expand globally. Their willingness to embrace failure, combined with a vast domestic market for testing ideas, enables companies to iterate rapidly. This bold and adventurous mindset holds significant value for businesses seeking growth in a fast-changing business environment or those wishing to use their local market as a testing ground before international expansion. To encourage such a culture, companies must invest in the right talent. China is vigorously cultivating experts in artificial intelligence, engineering, science, and R&D.

Chinese companies are no longer just participating in global competition; they are also collaborating with Western companies, investing together, and sharing knowledge. This shift from zero-sum competition to collaborative innovation is redefining globalization. Today, large companies are engaging in joint research, co-developing products, and investing in global projects.

The future belongs to cross-border alliances. Both nations and companies can learn from China's value of placing strategic partnerships above adversarial competition.

One of China's greatest advantages is its ability to quickly and on a large scale apply innovative results. Whether it is the popularization of electric vehicles, the integration of artificial intelligence, or the construction of smart city infrastructure, execution speed makes Chinese companies stand out.

I learned from Chinese companies that innovation is not just about ideas, but also about how to implement them quickly and efficiently. This means staying ahead by streamlining regulatory processes, supply chains, and marketing strategies. (Translated by Qing Songzhu)

Original: https://www.toutiao.com/article/7525656448391594511/

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