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R&D Spending Intensity Up to 2.12% Last Year

Submit Time:21-03-2018 | Zoom In | Zoom Out

Author: | Source:People's Daily (February 14, 2018)

Abstract:

According to the data released by the National Bureau of Statistics on February 13, China's R&D investment in 2017 totaled RMB 1.75 trillion yuan based on a preliminary estimation, an increase of 11.6% over the previous year, and the growth rate was one percentage point faster over the previous year. R&D spending intensity (R&D spending to GDP ratio) was 2.12%, an increase of 0.01 percentage points over the previous year.  

Viewed from R&D entities, the spending of enterprises in R&D was RMB 1.3733 trillion yuan in 2017, an increase of 13.1% over the previous year, remaining the double-digit growth for two consecutive years. The spending of governmental research institutions and colleges and universities in R&D was RMB 241.84 billion yuan and RMB 112.77 billion yuan respectively, increasing by 7% and 5.2% over the previous year.  According to the analysis of experts in the National Bureau of Statistics, there is still a big gap between China and innovation-oriented countries such as Israel, South Korea and Japan in terms of R&D investment intensity. In the coming years, governmental departments will further increase financial investment in science and technology and actively guide local governments and enterprises to increase their investment in basic research. 


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