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When I was asked to write the preface of this book, I immediately thought back to the time I have spent in China, and the time I have spent with Mr. Xie. Mr. Xie is an insightful and visionary business leader who has created WTOIP, a dynamic and forward-thinking organization, focused on bringing new technologies into China. My previous meetings and exchanges with Mr. Xie let me glimpse into the future development of IP monetization in China. As another wonderful exploration of IP monetization, this book provides the fundamental knowledge necessary to be successful in technology transfer, innovation in China, and cooperation between companies in China and the rest of the world. After all, when it comes to international technology transfer, no one can ignore China as a huge market and partner.

Technology transfer from and into China has great potential. Based on its GDP and manufacturing, more importantly, it's aspiration to move its economy to creating innovations, and its' investments in research, development and manufacturing infrastructure in life sciences and hi-tech, China has created unique environment that enables rapid transformation of technology. For example, China's high-speed railway becomes the most extensive in the world, with over 20,000km of high-speed track (more than the rest of the world combined) and with an additional 15,000km of track planned by 2025, this provides the infrastructure to connect the major economic centers and people. Other examples of infrastructure and innovation include the C919 large aircraft project which is now in direct competition with Boeing and Airbus; and Biopolis in Suzhou that provides small and medium size enterprises the facilities and expertise needed to develop novel therapeutics and diagnostic tools. Based on my recent visit to China I can see cutting edge technology changing people's lives from the adoption of mobile-phone payments, Wi-Fi service on trains and subways to the availability of shared bicycles. The rapid development and adoption of innovations shows that China has been very efficient in transforming research, technology, and innovation into products.

China's foreign investment has increased rapidly in recent years, and China has accelerated the pace of acquiring overseas advanced technology through overseas mergers and acquisitions (M&As) as a way to efficiently and rapidly acquiring technology, as well as stable market and brand influence. I believe that M&As will increasingly become China's means to obtain advanced technology from overseas;however, this activity is limited to large enterprises. In addition to M&As, China still needs to focus on creating innovations, international research collaborations, and developing innovations into products and will be a core business for companies engaged in international technology transfer services including my company.

I look forward to working with Chinese counterparts, including Mr. Xie, to promote the transfer of technology between China and Western countries and to share the dividends of China's ongoing science and technology innovation and manufacturing upgrading.

The book The Way of Technology Transfer introduces and discusses the methods and strategies for technology transfer in China and provides the reader with the knowledge and tools to engage in technology transfer activities that facilitate developing products based on research and innovation. In the book, the authors provide and in-depth analysis of the importance for Chinese enterprises to engage in international technology transfer, with which I agree very much. I would like to express my admiration and appreciation to my Chinese peers on their attempt of engaging latest Internet technology into services. I believe this book will help to increase cooperation between my peers in China and countries in the West in the future.

I earnestly recommend this book to peers and entrepreneurs, and sincerely wish Mr. Xie and his enterprise continued success in the future!

Arundeep S. Pradhan

President, Apio LLC

Past President, Association of University Technology Managers and Association of University Technology Managers Foundation