SHANGHAI, Oct. 26 (Xinhua) -- German companies in the Yangtze River Delta consider innovation as the key growth driver for their business in China, a survey shows.
The survey, which was released Wednesday, was jointly launched by the German Chamber of Commerce in China, Tongji University and Goetzpartners Management Consultants.
Of 111 responses, around 67 percent of German manufacturing companies said they saw innovation as one of the top three priorities for sustained development of their business activities in the Chinese market, according to a press release issued by the Shanghai Office of the German Chamber of Commerce in China.
Over 80 percent of surveyed companies expect an increase in investment for innovation in the following three years, it said.
It also said that human resources and the protection of intellectual property rights were regarded as the top two concerns affecting innovation.
Two thirds of the surveyed companies have been in China for more than 10 years, and around 66 percent of firms are from machinery equipment and auto industries.
