Allocated 321 Billion Dollars to China's R&D Spending

China's spending in R&D in 2019 broke a new record, holding 2,23 percent of the country's gross domestic product (GDP). According to the data announced by the State Statistics Office, this amount represents an increase of 0,09 percent compared to the previous year.

China's spending in the field of R&D reached 2.214 billion yuan (about $ 321,3 billion) last year. This figure corresponds to 2018 percent, or 12,5 billion yuan more than in 246,57, according to the report released by the Statistics Office with the Ministry of Science and Technology and the Ministry of Finance.

This increase is proportionally expressed by a double digit figure for the fourth year in a row. Deng Yongxu, one of the directors of the State Statistics Office, announced that last year's R&D spending growth rate was 0,7 points higher than the previous year. Investments in basic research totaled 133,56 billion yuan last year, 6 percent of total expenditure. R&D expenditures of enterprises increased by 11,1 percent compared to the previous year and reached 1.690 billion yuan. This represents 76,4 percent of total R&D expenditure.

On the other hand, R&D expenditures of higher education institutions grew by 23,2 percent compared to the previous year, reaching 179,66 billion yuan. This corresponds to 8,1 percent of the country's total R&D expenditure. Steady increases in R&D spending by enterprises and businesses provide a solid foundation for high-quality development, according to Deng.

R&D investment in high-tech manufacturing sectors reached 2019 billion yuan in 380,4. This figure, which corresponds to 2,41 percent of the total turnover of the sector, means a growth of 0,14 percent compared to the previous year.

Looking at the distribution of expenditures by cities, Guangdong, Jiangsu, Beijing, Zhejiang, Shanghai and Shandong stand out. These cities have invested more than 100 billion yuan in R&D. R&D spending increased by 14,8 percent and 17,7 percent, respectively, in the western regions and center of the country compared to the previous year. These rates are higher than the western region, which increased by 10,8 percent. - Hibya

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