Innovating in Asia Study 2023

Despite geopolitical headwinds and declining FDI, global companies are quietly increasing their innovation investment in China and redefining what “China for China” means in practice. In this Insight piece we share the main findings from our our 2025 Innovating in China benchmarking study.

Emerging and developing Asia will contribute 57.4% of global GDP growth in the medium term, generating $10.1 trillion in new annual economic activity by 2025. China alone will contribute 31.2% of global GDP growth during this five-year period, with China’s GDP growing by $5.5 trillion during this period.

China is at the forefront of digital innovation yet foreign companies are often unprepared to participate due to a lack of local innovation capabilities. Open innovation strategies provide a solution. The term ‘open innovation’ was coined by Professor Chesbrough of UC Berkeley in 2003 to illustrate how companies incorporate external ideas and expertise to advance their innovation goals.

The advancements in robotics within surgery and healthcare signify a pivotal transformation in the medical landscape, enhancing surgical precision and patient outcomes while optimizing procedural efficiency. This technological progression is in alignment with global healthcare priorities, which emphasize the enhancement of surgical techniques and the adoption of minimally invasive procedures. The integration of cutting-edge technologies such as artificial intelligence (AI), machine learning, and sophisticated imaging systems has been instrumental in the rapid evolution of surgical robotics. These innovations have significantly expanded the utility of robotic systems across diverse medical fields, including orthopedics, cardiology, and neurosurgery, thereby broadening the scope and impact of robotic-assisted procedures. The market's potential is underscored by projections indicating robust growth, driven by continuous technological advancements and increasing demand for precision in me

The landscape of collaborative robotics (cobots) is rapidly evolving, with China positioned at the forefront of this transformation. Driven by strategic initiatives such as "Made in China 2025," cobots are integral to modernizing China's manufacturing capabilities and addressing labor shortages through advanced automation solutions. These efforts highlight the nation's commitment to becoming a leader in the global robotics industry. Technological advancements have been crucial in accelerating the adoption of cobots. Innovations in artificial intelligence, machine learning, and sensor technologies have significantly enhanced cobots' functionality, enabling seamless interaction with human workers and adaptability across various industrial environments. This progress has facilitated significant product differentiation, allowing manufacturers to customize cobot applications to meet specific industry demands, thereby enhancing their utility and market appeal. The development of a comprehe

In the relentless race toward AI supremacy, China emerges as the second-largest AI economy globally. With many AI powerhouses, China is set to shape the future of LLMs. Get to know China's AI and LLM landscape below and learn how China's tech conglomerates are already adopting LLM to provide new and enhanced services.