Illustration: Xia Qing/GT
From artificial intelligence (AI) and 5G to humanoid robots, China’s latest wave of technological innovation is capturing global attention. How much do you know about this?
Recently, many have downloaded DeepSeek onto their smartphones. This serves as just one micro-example of how China’s new round of technological innovation is impacting people’s daily lives, work methods, and even the international financial markets and global supply chains. The momentum behind this wave of Chinese technological innovation is considerable, bringing with it new questions that invite answers. Meanwhile, previous stereotypes and “old labels” about Chinese technology are gradually fading away.
Is China merely a simple “follower” of Western innovation?
Let’s delve into two sets of data: In July 2024, a World Intellectual Property Organization (WIPO) report revealed that China-based inventors were filing the highest number of generative AI patents, far outpacing inventors in the US, South Korea, Japan and India, which comprised the rest of the top five locations. In cutting-edge scientific fields like generative AI, China has secured a vast number of patents, demonstrating its focus on original innovation.
In 2024, China’s expenditure on basic research totaled 249.7 billion yuan ($34.4 billion), marking a 10.5 percent increase from the previous year. The sustained investment in basic science is poised to effectively enhance China’s capacity for original innovation. It is likely that an increasing number of Westerners will revise their stereotypical view of China as a “follower” and begin to recognize its capability for original innovation.
Why are investors increasingly interested in revaluing Chinese tech assets?
China’s innovative technologies are showing impressive economic potential. Goldman Sachs expects Chinese stocks to attract $200 billion and rise by as much as 19 percent in the next 12 months, thanks to the frenzied adoption of DeepSeek and other AI in the country, the South China Morning Post reported.
First, technologies like DeepSeek have highlighted the cost-effectiveness of China’s innovations, significantly boosting their commercial appeal. Commercialization can be easily achieved, which is propelling economic growth.
Second, the vast Chinese market further amplifies this potential. For example, the user base for generative AI in China has reportedly exceeded 250 million people, with the rapidly expanding market continuously bolstering the economic impact of the country’s latest tech innovations.
Can China’s current surge in technological innovation be sustained?
The advancement of high-tech industries hinges on talent. As reported, the DeepSeek team mainly consists of graduates from Chinese domestic universities and even doctoral students who have yet to complete their degrees. DeepSeek’s success demonstrates that China is becoming fertile ground for the growth of top-tier tech talent. The Chinese educational system is fully capable of cultivating a reserve of individuals who can create world-class technological products.
With such a robust system for nurturing tech talent and a rich reserve of top-tier talent, it’s only a matter of time before China produces the next groundbreaking product.
What will China’s technological innovation bring to the world?
On an individual level, global consumers can enjoy the convenience brought about by China’s technological advancements. DeepSeek has already begun serving a large number of foreign users.
From a corporate perspective, China’s high-tech industry has always been open to foreign investment; meanwhile, Chinese high-tech companies are also looking at new prospects globally.
At the national level, based on 2024 figures, China has established scientific and technological cooperation with more than 160 countries and regions, signing 118 intergovernmental agreements on scientific and technological cooperation.
China’s sci-tech innovation serves the interests of China and the whole world. Chinese Foreign Ministry spokesperson Mao Ning said in October 2024 that in the face of the new round of scientific and technological revolution, China stands ready to work with other countries to pursue open and inclusive sci-tech cooperation, share the outcomes of sci-tech innovation and jointly address global challenges.
Certainly, some in the West are feeling the competitive pressure from a new wave of Chinese technological growth and are attempting to tarnish China’s tech advancements in an effort to curb its independent innovation. However, whether they are willing to admit it or not, this surge in high-tech growth in China is not a fleeting phenomenon but is built on a solid foundation for sustained development. It will make a positive contribution to both China’s economy and the global economic landscape.
The author is a reporter with the Global Times. bizopinion@globaltimes.com.cn