ABSTRACT
In the course of the last decade, we have witnessed not only the dynamic continuation of China's economic rise, but also the transformation of its economy from one almost exclusively based on labor cost advantages to one based on the fast adaptation of globally existing technological knowledge. Moreover, an increasing number of Chinese firms have developed their own capacities to generate novel ideas in the process of adapting and modifying existing products to customer needs and, in part, have even started to enter the global market as genuine, world-class innovators.
