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Apart from financial injection, Merck is also planning to provide training during the three-month incubation period and looking to offer industry cooperation opportunities and next-phase of grooming in the future, said Sun Zhengjie, managing director of Merck Innovation Hub China.

Another example: market research and customer surveys can become proxies for customers – something that’s especially dangerous when you’re inventing and designing products. “Fifty-five percent of beta testers report being satisfied with this feature. That is up from 47% in the first survey.” That’s hard to interpret and could unintentionally mislead.

Any attempts at "de-Sinicization" will never undo the historical and cultural links between the two sides, he added.

Another industry leader Goldman Sachs also announced on Friday the CSRC has approved its increased stake in Goldman Sachs Gao Hua Securities Company Limited to 51 percent. Prior to that, the US investment bank held 33 percent in the joint venture.

Another petrochemical giant BASF began to build its largest overseas investment project in Zhanjiang in November 2019, with investment set to surpass billion.