Editor's Note: In a recent interview with 21st Century Business Herald, Yossi Vardi, a renowned Israeli high-tech entrepreneur, spoke highly of China's endogenous technologies. China Daily summarizes his main ideas from the Chinese-language report:

In the past, the general impression of China was it was a highly efficient producer that manufactured many products, but now that has changed. People believe it is an innovator that can create many high-tech products. For example, its popular real-time communication app for smartphones is highly competitive.

I think we can compare China's innovation to a wheel that's going forward at great speed. In 2017, China had 1.5 million engineers, the highest in the world and three times that of the runner-up.

If any advice is needed, I advise China to strengthen construction of its ecological system for business startups. Business startups require support at first, because many struggle in the early stages.

About the internet, I think we are at a new starting point. When it comes to innovation, each generation has its own ideas and each generation stands on the shoulders of its predecessors. The seeds we sow today will grow within three to five years, not three to five decades.

The internet has changed the world, and a new round of new technologies will change our world, too.

Innovation has changed traditional sectors such as manufacturing and electronics, and we believe new innovations will emerge.

There are three key areas in the future. First, quantum computing, which will greatly lower the cost of the computing sector, make computers much smaller in size, and enable us to deal with data in real time. Now we can only diagnose diseases when people already have them or are about to have them. In the future, with the help of big data and artificial intelligence, we will do better in early-stage diagnoses.

Third, intelligent manufacturing. With the help of AI and faster communication, intelligent manufacturing will do better.

Besides the above-mentioned, all sectors will become better with the progress of 5G and AI, which will help them cut their manufacturing costs and improve their efficiency.