But you have companies like Mindray Medical International and in the heavy construction industry Zoomlion is expanding worldwide.

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Mindray generates more U.S. patents per revenue dollar than many global leaders.

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From the Forbes BRIC Value buy list in China, top buy recommendations as made by ValuEngine are Mindray Medical (MR), Baidu (BIDU) and China Mobile (CHL).

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Frugal engineers at private companies such as Mindray, which makes medical devices, and Huawei, a telecoms giant, are devising technologies that are cheaper and sometimes better than their rich-world equivalents.

ECONOMIST: Innovation in China

Medical equipment maker Mindray (MR) is a standout, though.

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In healthcare, domestic ultrasound manufacturer Mindray became the No. 1 player by using technology that was reliable but less advanced and offering 30% to 40% lower prices than similar models from MNCs.

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Among the largest underlying components of GXC, in trading today Baidu, Inc. ( NASD: BIDU) is off about 0.5%, NetEase, Inc ( NASD: NTES) is down about 1.2%, and Mindray Medical International Ltd ( NYSE: MR) is lower by about 1.4%.

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Among the largest underlying components of GXC, in trading today NetEase, Inc ( NASD: NTES) is down about 0.1%, Mindray Medical International Ltd ( NYSE: MR) is off about 6.3%, and Sina Corp ( NASD: SINA) is lower by about 1.4%.

FORBES: GXC, NTES, MR, SINA: Large Outflows Detected at ETF