Capital for R&D sees consistent increase
Print Edition
CHINA’S investment in research and development has consistently risen with the country seeking to find a new competitive edge as the era of cheap labor and fast exports ends, a report said yesterday.
R&D expenditure reached 1.3 trillion yuan (US$203 billion) in 2014, up 9.9 percent from the previous year, according to the report jointly published by the National Bureau of Statistics, the Ministry of Science and Technology and the Ministry of Finance.
Last year’s R&D expenditure equaled 2.05 percent of the country’s gross domestic product, marking its second straight year above 2 percent.
With R&D spending at more than 1 trillion yuan, enterprises were the biggest contributor, the report said.
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