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Technology, a key to catch China business opportunities

It goes without saying that China is a big market. Any ambitious entrepreneurs are unable to ignore great China business opportunities. Despite this, the emerging market could never be regarded merely as "a place with unlimited potential and golden floor."

Along with China's transformation of a nation of manufacturing into consumption, multinational Small and medium-sized enterprises (SMEs) can not only be benefited from the low cost, but the vast market as well. Whether a foreign SME is quickly developed in China is determined by, in some way, his core technology, or know-how.

China's present efforts of turning into a creation power are bringing much more business opportunities for foreign entrepreneurs. The abundant patent resources, low R&D cost and superior technical staffs and designers that China owns have attracted many multinational corporations to invest a local R&D center in China.

Today, foreign corporations must introduce their advanced technology to maintain competitive in China market. It is natural that some foreign companies worry about the steal of his core technology or know-how once R&D in China. So do Chinese local enterprises. Technology is the core competitiveness for every company. No technology, No future. However, if it is over-protected, there's no way to be well developed in China.

Cummins, the world-famous engine manufacturer, sets a model for newcomers. Cummins China R&D center and manufacturing joint ventures are usually established on the principle of 50:50 shares with Chinese side. For a long time, Cummins has been enjoying the rich fruits from China business opportunities, and promises to be No.1 China engine provider, after introducing his technologies of full series of engines and key parts and components into China.

In Cummins' view, cooperation built on mutual trust with Chinese engineering machinery enterprises is the best layout in China. As Cummins president, Joe Loughrey put it, "Cummins long-term strategy in China is the strategic alliance with China's outstanding enterprises to achieve win-win development for both sides."

In conclusion, China business opportunities not just mean trade and sales, but further participation and collaboration as well. To some extent, China business opportunities are the efforts of technological innovation and incubation and to "create opportunities with China all together."

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