Investigating the role of policies, strategies, and governance in China´s emergence as a global nanotech player

China has challenged the dominance of advanced OECD countries in high technologies by emerging as a leading country in nanotechnology; projected as a key technology of the 21^st century. Stakes are high as estimated market value and economic and social benefits are immense for countries that can attain competency in this technology. The study makes a broad assessment of nanotechnology performance of China; to reveal to what extent it is making an assertion in this technology. We then investigate macro and micro level policies and strategies in China´s emergence as a key player in nanotechnology. China´s emergence in nanotechnology is discussed in a broader context to distill how a country that is still at a low end of technology value chain with limited innovative ability has been able to create capacity and capability in a high technology area. This can be learning for countries in transition that face similar constraints in trying to become an `innovation oriented´ society.