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R&D expenditure reaches more than 2% of GDP

Wang Qingyun
Updated: Oct 23,2014 6:41 PM

The National Bureau of Statistics said research and development (R&D) spending in 2013 constituted 2.08 percent of the year’s gross domestic product (GDP), the first time the country’s R&D investment reached more than 2 percent of its GDP.

According to a communique issued by the bureau on Oct 23, China invested more than 1.18 trillion yuan in R&D in 2013, an increase of about 154.8 billion yuan, or 15 percent, from the previous year.

China’s outlay for basic research was 55.5 billion yuan, investment in applied research totaled 126.91 billion, and the rest was for development.

Enterprises invested 907.58 billion yuan in R&D, accounting for 76.6 percent of total R&D spending in 2013.

Jiangsu, Guangdong, Beijing, Shandong, Zhejiang and Shanghai ranked the top six areas for R&D investment in 2013. Their spending constituted 58.2 percent of the country’s total R&D investment.