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The Rise of The Dragon: China's Success in Leading the World of Technology

February 11, 2019

09.40 - 10.10

Plenary Hall


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As the world undergoes unprecedented changes, a series of problems have emerged as a backlash to globalization and climate change, according to Wang Zhigang, China’s Minister of Science and Technology. Speaking on the second day of the 2019 World Government Summit, Zhigang highlighted the requirement for a global governance system to navigate through these innovations for better economic development and growth. “Change is taking momentum,” he said. “With 40 years’ of reform and opening up, China’s economy is transforming from high speed growth to high quality growth.” Scientific and technological innovations have been at the core of the nation’s development as the country now accounts for 20 per cent of the world’s research and development (R&D) expenditure. This growth in R&D expenditure has been driven mainly by the application of digital innovations like e-commerce and mobile payment systems.