Zvika Krieger, head of technology policy for the World Economic Forum, poses for a photo at the 2019 World Economic Forum's Annual Meeting of the New Champions in Dalian, Northeast China's Liaoning province, on July 1, 2019. (YANG YANG / CHINADAILY.COM.CN)
China has taken a leading role in technological innovation and IP protection in the fourth industrial revolution and has the potential to take leadership in the years to come, said World Economic Forum leaders at the 2019 World Economic Forum's Annual Meeting of the New Champions also known as the 2019 Summer Davos Forum in Dalian, Northeast China's Liaoning province.
China has undoubtedly become a juggernaut, a global leader in the technology landscape
Zvika Krieger, Head of Technology Policy, World Economic Forum
The world is in the fourth industrial revolution, which is a period in which technology is having unprecedented impact on society. It's impacting every aspect of our lives and every industry including financial markets. It's defining what IT means to be human, said Zvika Krieger, head of Technology Policy, World Economic Forum.
China has undoubtedly become a juggernaut, a global leader in the technology landscape. There's basically no technologies that you can see on the global landscape where China is not the leader or one of the leaders, Krieger said.
He said one of the drivers of China's leadership is Chinese government's investments in R&D, which will have a great impact in reshaping the technological ecosystem of China and the globe.
As China is transferring and upgrading its manufacturing industry through innovation, the country's funding budget in science and research will reach 2.5 percent of GDP in 2019 and China's investment in R&D is just next to the US, surpassing Japan, People's Daily reported.
Chinese leaders and stakeholders need to be part of the global conversation and that's why the World Economic Forum has its Annual Meeting of New Champions in China, recognizing that Chinese stakeholders need to have a voice in the conversation and a prominent place at the table, Krieger said.
Murat Sönmez, head of the Centre for the Fourth Industrial Revolution Network, said the theme of this year's Summer Davos is "Leadership 4.0: Succeeding in a New Era of Globalization" and there are four dimensions of leadership 4.0, namely industry, economy, technology and responsibility.
China plays a critical role in multiple dimensions and there is a great deal of interest from the rest of the world to learn what's happening in China and from China to also learn what's happening around the world so that China and the world can collaborate, Sönmez said.
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China has made great achievement in IP protection in the past years and if you look at the number of patents coming out of China, it basically dwarfs everybody else, Sönmez added.
Sebastian Buckup, head of programming, World Economic Forum, echoed Sönmez's word by saying that China now is registering more patents than other countries in the world. Most of the patents related to artificial intelligence that were registered with the World Intellectual Property Organization last year were submitted by China.
"What we're seeing is China becoming a global leading innovator, a leading country filing patents. And that's why the position and the attitude of China when it comes to intellectual property, of course, is also going to evolve and that's important," Buckup said.
Krieger believes China is going to continue to be a leader in emerging technologies in the years to come and no company or government can ignore China's leadership when it comes to emerging technologies.
China will also be a leader in handling technology responsibly and in shaping the global conversation about accelerating the benefits to society, as technology is beyond boundaries of nations and it should benefit all human beings, Krieger said.
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