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New Order of Global R&D

With the change of geographic footprint of innovation and R&D programs, enterprises are increasingly shifting R&D to somewhere else. In the report 2015 Global Innovation 1000 released in November, 2015, PricewaterhouseCoopers Consulting analyzed R&D spending across the 1000 largest R&D spender globally (publicly traded firms), and the global R&D footprint of the 207 companies that spend most in this regard. The study reveals that companies that conduct R&D worldwide are rewarded with higher returns, Chinese enterprises are making steady progress on innovation and Asia is now the first choice for global enterprises to conduct R&D. The report also points out that Europe is somewhat slipping, while the US still boasts incomparable edges on innovation. This research can provide important lessons for Shanghai to understand the global R&D footprint of multinationals and enhance local companies’ innovation capabilities. Main ideas from the report are refined as follows for leaders’ decision making.