China’s new role: Global innovation hub #CGTN

China’s new role: Global innovation hub
Deloitte China recently hosted its 2026 Multinational Corporations Summit in Shanghai, with over 300 global companies and institutions in attendance. In a CGTN interview, Deloitte Asia Pacific CEO David Hill noted that China is transforming from the “world’s factory” into a “global innovation engine.” Multinationals initially came for cost but now stay for quality, innovation and opportunities. He believes that the long-term value and certainty of the Chinese market are key factors no global group can ignore.

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