Although faltering after the global financial collapse of 2008, China has emerged from the recession poised to become a leading developer of high-tech enterprises and innovations.
The jump from the world's leading source of manufactured goods to one of its leading technology innovators can more succinctly be summarized as a momentous transition from manufacturer to creator.
This week, China announced it is considering an astounding $1.5 trillion investment across seven key industries - mainly alternative energy, information and bio technologies - over the next five years. However, the massive investment has been met with some skepticism, as it equates to roughly five percent of the country's GDP.
A source with ties to the government and direct knowledge of the proposal explained to Reuters, "The State Council is considering a plan to invest up to 2 trillion yuan (USSD 300 billion) each year in the seven new strategic industries over the next five years."
Driving China's economic boom over the last decade has been a gradual process of urbanization among the populace, particularly as the world's largest population began receiving greater access to education.
As this process is expected to continue through the coming decades, innovation competition across all sectors and countries can also be anticipated. Accordingly, tech-focused enterprises need to embrace IP management systems to control and protect their innovations.