Economics
China’s R&D Spending Rises 10% to Record $378 Billion in 2020
Photographer: Getty Images
This article is for subscribers only.
China’s spending on research and development hit a record high 2.4% of gross domestic product in 2020, according to preliminary data from the National Bureau of Statistics.
China’s total expenditure on R&D rose 10.3% from a year ago to 2.44 trillion yuan ($377.8 billion), the bureau said in a release Sunday. It’s the slowest incremental growth in five years and down from 12.5% in 2019.