Sat, 02 Jul 2022

China's spending on R&D reaches new high in 2021

Xinhua
26 Jan 2022, 14:30 GMT+10

© Provided by Xinhua

BEIJING, Jan. 26 (Xinhua) -- China's spending on research and development (R&D) hit a new high of 2.44 percent of its gross domestic product (GDP) in 2021, up 0.03 percentage points from the previous year, official data showed Wednesday.

The country's total expenditure on R&D amounted to about 2.79 trillion yuan (about 441.13 billion U.S. dollars) last year, up 14.2 percent year on year, according to a report released by the National Bureau of Statistics (NBS).

After deducting price factors, China's R&D spending in 2021 rose 9.4 percent year on year, said the NBS.

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