Healthcare looking in good shape

Could China's experiences and practices be used to solve global problems?

We are optimistic about the country's progress in building a healthy society. The government's achievements on expanding healthcare reform have been remarkable.

These include substantially increasing investment to expanding health infrastructure, strengthening the primary care system and achieving nearly universal health insurance coverage in a relatively short period.

What will China be like in five years and what is the country's long-term future?

China's economy is undergoing an important stage of structural transformation. Innovation will play a central role in driving long-term growth, so I believe this development will be a positive one for the country's future in the years to come.

Johnson & Johnson is convinced a vibrant, innovative China has the opportunity to lead the planet to a healthier future by capitalizing on the health and technology revolution.

What factors will boost growth this year and in 2018, and what are the challenges facing China's economy?

We applaud the government's efforts in transforming the economic structure and emphasizing the importance of innovation. Initiatives, such as supply-side structural reforms, Made in China 2025 and Internet Plus, are helping to shift the country toward an increasingly service-driven and consumption-fueled model. This will boost innovation.

At Johnson & Johnson, we see innovation as a critical driver in promoting long-term economic growth. Leading institutions have forecast that by 2025 innovation will contribute between 2 and 3 percentage points to China's GDP growth. And that will account for between 35 to 50 percent of total GDP growth.

This is a huge opportunity for China and companies here. It will also have a ripple effect on the global economy.

As a Fortune 500 company, which sectors do you think offer the most opportunities for development?

Sustaining investment in innovation is the most important aspect of Johnson & Johnson's strategy. Applied technology is a core element and fundamental. It affects everything we do. If we are not constantly thinking about how concepts, such as augmented intelligence, digitization and the internet of things, affect our businesses, we cannot be successful.

One of the true opportunities going forward is the convergence of disciplines through technologies. Another is personalization and customization. There is an expectation from customers and consumers for a very personal approach . . . more an experience, or solution, than a product.

China is known as a manufacturing giant, but what will the country's "calling card" be in the future?

China is one of the fastest-growing economies in the world. It is a seminal hub for things such as connectivity, mobility and the use of cell phones. Innovation requires a healthy ecosystem, as well as a great educational system.

A strong intellectual property foundation is crucial, along with a system which encourages publications, studies and research. Finally, making sure that academic centers, venture centers and companies of all sizes work together.

In the end, that is what it really takes to create innovation.

What we have seen take root in China, with the encouragement of the government, is a system which is more conducive to entrepreneurship, innovation and creativity than many other places in the world.