By Sophia Yan CNBC
ZHENGZHOU, China — China holds excellent opportunities for entrepreneurship and innovation, according to Yu Zhichen, CEO of Turing Robot, a firm looking to make it big in artificial intelligence.
“I’ve been to the U.S., Japan, Taiwan, and Israel, and the opportunities for innovation and entrepreneurship in China are just as good — in some respects it’s actually better,” Yu told CNBC.
That’s because China is already a pretty tech-savvy place and firms continue investing in R&D, according to Yu, who added that the country’s giant manufacturing machine means everything can happen in one place.
Like in many countries, technology firms have taken the spotlight in China’s entrepreneurial space. And it’s an increasingly important part of the growing private sector, as the government guides the economy away from the old growth model of manufacturing and exports, and into the modern era with services and consumption as the main drivers.