I am fairly ignorant on languages. Does Chinese keep up with the fast pace of innovation these days by creating new words for new inventions from the English sp

I am fairly ignorant on languages. Does Chinese keep up with the fast pace of innovation these days by creating new words for new inventions from the English speaking world? One of the reasons I think English does make a good exchange language is because it generally has a word for anything that comes along. Also it is the easiest to deal with in terms of building software and existing natural language processing research.