China is moving aggressively from a strategy of imitation to one of innovation. Driven both by domestic needs and by global ambition, China is establishing itself at the forefront of technological innovation. Western businesses need to prepare for a tidal wave of innovation from China that is about to hit Western markets, and Chinese businesses need to understand the critical importance of innovation in their future. George Yip is the Associate Dean for Executive Programmes at ICBS. Previous academic positions include Professor of Strategy and Co-Director of the Centre on China Innovation at China Europe International Business School, Dean of Rotterdam School of Management – Erasmus University, and Harvard, UCLA, Cambridge Judge (Beckwith Professor of Marketing and Strategy) and London Business School (Professor of Strategy and Associate Dean, MBA). Former Lead Senior Fellow of the UK’s Advanced Institute of Management Research. Editorial Advisory Board of MIT Sloan Management Review. Previous business positions include Vice President and Director of Research & Innovation at Capgemini Consulting, senior manager at Price Waterhouse (USA), manager at Unilever, and various boards.