Beijing, September 23rd, 2014 – Global consulting firm Strategy& (formerly Booz & Company) released 2014 China innovation survey together with the Benelux Chamber of Commerce, the German Chamber of Commerce in China, China Europe International Business School (CEIBS) and Zhejiang University School of Management. In China, innovation is the first priority for 42% of Chinese companies, compared to 21% of MNCs, according to a survey done to nearly 400 executives from Chinese and foreign companies this year. Chinese companies are increasingly turning to technology to deliver first-to-market innovations, building on their historic strength in understanding local markets and customer needs. On the other hand, multinationals also realize that local innovation must rely on deep understanding of local customer needs. Meanwhile, innovation plays an important role in Chinese companies’ globalization strategies.