Enter the dragon China shines a Torch to spark innovation beyond its borders
Extending the frontiers of UK science and industry
Innovation
Photovoltaic pioneers Prof Stuart Wenham and Prof Martin Green , key players in the first Torch Precinct outside China
Enter the dragon China shines a Torch to spark innovation beyond its borders
Fran Molloy Freelance Journalist for the UNSW
Fran Molloy is published in the Sydney Morning Herald , ABC , BBC , BRW , Nature , and South China Morning Post
C hina ’ s Torch Programme is the world ’ s most successful entrepreneurial programme , credited with a boom in hightech innovation across China via a network of over 150 national Science and Technology Industrial Parks and associated business addons . China ’ s Ministry of Science and Technology funds the Torch Programme , which now contributes 12 % of the nation ’ s GDP .
Now , China is expanding its Torch Programme internationally , with a new A $ 1 billion precinct in Australia where Chinese and Australian companies and research centres will work jointly in a high-tech hub likely to generate billions in the next decade . The Torch programme accelerates innovation by strategically locating Chinese science and technology businesses , universities , and research organisations and plays a key role in Beijing ’ s ‘ Made in China ’ strategy , which aims to have 70 % of the supply chain for China ’ s manufacturing sector sourced domestically by 2025 . Until recently , the Programme ’ s A $ 40 billion R & D budget has been destined for high-tech zones and science parks within China – 156 Torch Programme sites , hosting over 50,000 companies , have been built across China since 1988 . But last year , China broke this near-30-year tradition .
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