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Cloud tech to drive innovation in China, KPMG says
Cloud technology will drive innovation in China over the next three years, while automotive technology and data and analytics are among the most important sectors, according to a recent technology survey by KPMG.
Around one-fifth of China’s respondents said cloud technology will drive innovation over the next three years; one in ten highlighted automotive technology and another ten percent indicated data and analystics as top drivers for innovation, according to KPMG’s 2014 Global Technology Innovation Survey.
The survey covers 768 technology executives globally, of whom 106 are from China.
“Chinese manufacturers are undergoing a shift in industrial production, from ‘made in China’ to ‘innovate in China for China’,” said Egidio Zarrella, Clients & Innovation Partner, KPMG China. “Given the huge volumes, many companies are likely to focus on the Chinese market and design products that are tailored for China.”
KPMG said increasing numbers of entrepreneurs, angel investors and venture capitalists are establishing a presence in China and seeking out new innovative ideas and projects, helping to create a Chinese version of the Silicon Valley.
China remained to be considered the second most promising place to fuel technology breakthroughs after the US.
The gap is closing as the proportion of respondents choosing China remained at 24 percent while that for the US fell to 30 percent from 37 percent last year.
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