This has to do with traditions between China and western universities.
In America, universities and industries are much more closely link together compare to China. American universities design their academic courses, degrees, and researches close to the needs of industries. Universities received many grants, fundings directly from either government sponsored subjects of corporation with industries and businesses. In China, for generations, the universities are much more academically oriented and their key to success is to write and publish paper, regardless its usefully to any industrial or business applications. In fact, universities prefer not to involve in business ventures. For China, particularly in science and engineering areas, this has changed a little.