Restructuring, innovation makes domestic brands more competitive (3)

Zhejiang aims to double its investment in research and development in 2015 from 2010 to make it account for 2.5 percent of the province's gross domestic product, according to the provincial science and technology department.

The province will carry out pilot projects for industrial technological innovations and build more than 50 state-level innovative companies by 2017, according to the department.

"Chinese companies should work to change the structure of their exports. The days when everyone introduces technologies to catch up with others are gone," said Zhuang Jian, an economist with Asian Development Bank.

"To deal with the domestic economic transformation and global slowdown, companies should invest more in research, improve management, enhance innovative capacities and increase the added value of products," he said.