Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Sept. 29 (Xinhua) — China's research and development (R&D) spending increased 8.9 percent year-on-year last year, exceeding 3.6 trillion yuan (about 506.41 billion U.S. dollars), the National Bureau of Statistics (NBS) reported on Monday.
According to Zhang Qilong, senior statistician at the National Statistics Bureau, between 2021 and 2024, the country's annual R&D spending growth averaged 10.5 percent, one of the highest rates among the world's leading economies. This has allowed China to become the second-largest investor in R&D globally, he emphasized.
R&D intensity, which measures the share of such expenditure in GDP, increased by 0.11 percentage points year-on-year, reaching 2.69 percent last year.
In 2024, China's expenditure on basic research, applied research and experimental development increased by 10.7 percent, 17.6 percent and 7.6 percent, respectively, compared with the previous year.
Enterprises have accounted for more than 75 percent of the country's total R&D spending for many years, and their contribution to the overall growth of such spending in 2024 reached 77.1 percent, making them the main driving force behind China's expanded investment in this area. –0–
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