China and US score highly as technology hubs

Updated: 2015-12-03 20:04

By Chen Jia(

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China and the United States were named the world's most promising technology hubs for disruptive breakthroughs, a survey by an international consulting company revealed on Thursday.

The 2015 Global Technology Innovation Survey by KPMG showed that Shanghai and Beijing continued to be two of the five cities expected to become the next leading tech hubs in addition to Silicon Valley.

Tokyo and New York took the top positions on the list, Shanghai ranked third and Beijing fourth, it said.

The survey draws insights from 832 technology executives globally – including 93 from China – and identifies disruptive technologies, barriers to tech innovation adoption and monetization opportunities driven by emerging technologies.

Egidio Zarrella, clients and innovation partner at KPMG China, said that "China's tech-savvy consumer population has helped drive significant technology advances."

"The country's manufacturers, meanwhile, are undergoing a shift in industrial production, from 'made in China' to 'innovate in China for China'. We see increasing numbers of entrepreneurs, angel investors and venture capitalists establishing a presence in China and seeking out new innovative ideas and projects".

Their actions are helping create an ecosystem similar to Silicon Valley, but accentuated with unique Chinese characteristics, he added.

In addition, one-third of China's respondents saw consumer markets had the greatest potential to monetize from adopting the Internet of Things, while 26 percent said the adopting of artificial intelligence will benefit the technology sector the most, finds the survey.

Irene Chu, partner and head of high growth technology and innovation group of the company said: "Bolstered by the government's focus on economic reforms and entrepreneurship to reposition the economy toward value-added products and services, Chinese companies have been adapting their business models and investing in new technologies to stay competitive and relevant."