
Zhejiang expands innovation vouchers to bridge lab-to-market gap
The concept originated in Europe, where countries including the Netherlands and Belgium introduced similar schemes in the 2000s.

The concept originated in Europe, where countries including the Netherlands and Belgium introduced similar schemes in the 2000s.

The trend reflects a broader shift in Zhejiang from “follower” innovation toward technology-led competition.

By 2030, Zhejiang aims to establish a BCI technology and industrial innovation hub with strong international competitiveness.

The province will build a core industry worth 20 billion yuan ($3 billion), with related industries exceeding 50 billion yuan.

The latest chart underscores the province’s resilience and Hangzhou’s growing role as one of China’s leading corporate headquarters.

The six newly designated zones focus on hydrogen energy, flexible electronics, the low-altitude economy, aerospace equipment and biomanufacturing.

A key feature of Zhejiang’s innovation strategy is its “technology vice president” program.

Air-conditioning penetration remains remarkably low across much of the continent—around 5% in the U.K. and just 3% in Germany.

BCI is also seen as an area where Zhejiang is well positioned to establish a competitive advantage.

Consumer spending showed signs of a shift toward higher-value technology products.