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China to raise annual per capita R&D spending to 500,000 yuan by 2020

Updated: Apr 24,2017 7:38 PM     Xinhua

BEIJING — China will increase its annual per capita spending on research and development (R&D) to 500,000 yuan ($72,800) by 2020 from 370,000 yuan in 2014, the Ministry of Science and Technology said on April 24.

According to the 13th five-year plan for national science and technology talent development (2016-2020) released by the ministry, China had 5.35 million people working in R&D by the end of 2015, the world’s largest pool of R&D talent.

More than 1.1 million overseas Chinese skilled workers returned to China from 2011 to 2015, three times the number of the previous three decades combined, it said.

However, the country is still facing problems, including a lack of researchers in cutting-edge, high-end fields and insufficient expenditure on R&D talent.