By Co-Director, CEIBS Centre on China Innovation Professor of Strategy George Yip, Co-authored with Visiting Professor of International Business Bruce McKern

China is now a huge part of multinational companies’ plans for globalizing their R&D activities.  There are now over 1,500 foreign R&D centers in the country, and each year there are more being set up in China than anywhere else in the world. For example, since 2003, General Electric has established three major R&D centers in Beijing, Shanghai and Wuxi, as well as three regional innovation centers. In 2013 alone, Oracle opened its fourth China R&D center while centers were also opened by Daimler AG, Medtronic, Covidien, Boston Scientific, Continental AG, Toyota, Arkema and others. In 2010 Johnson & Johnson set up, in Suzhou’s industrial park, a new R&D center responsible for all medical diagnostics and devices product development in the Asia-Pacific region. In addition, many multinationals, such as, Bosch, General Electric, IBM, Philips and Shell are continuing to upgrade and enlarge their China R&D facilities. Read more on Forbes.com