In recent years, facing serious global competition, the Chinese government has focused on accelerating the growth of the advanced technology sector including nanotechnology in order to lift the country's status from manufacturing raw materials and goods up to innovation technology, information economy and green efficient energy. With trillions in tangible monetary reserves, the government has substantially increased its investment in nanotechnology through several major initiatives. These measures comprise tax incentives and low rents for new facilities within economic development parks to stimulate the growth of new nanotechnology-related companies and attract foreign investment. This article outlines some of the current nanotechnology businesses, programs and markets across China, including its technology focus, collaborations, geography, and funding from central and local governments and from the private sector. Efforts are being made in China to increase the number and quality of nanotechnology-related publications and patents, and to pursue industrial-scale production of nanomaterials with the intention of opening up opportunities for new businesses to sprout and grow. Watching China's shift to a nation that promotes innovation will be an exciting time for the global nanotechnology community. It is hoped that R&D and commercial applications of nanomaterials and nanotechnology will provide new impetus for faltering economies. Published by Elsevier Ltd.