October 18, 2021

China’s spending on research and development hits a record $378 billion

China’s spending on research and development hits a record $378 billion

China’s spending on research and development hits a record $378 billion

Sam Shead
01 March 2021

China’s National Bureau of Statistics said that R&D spend, which looks to develop new services or products, accounted for 2.4% of China’s gross domestic product.
The bureau said that by the end of 2020, China had 522 “national key laboratories” and 350 “national engineering research centers” in operation.China’s spending on research and development climbed 10.3% to 2.44 trillion Chinese yuan ($378 billion) in 2020, according to the nation’s National Bureau of Statistics. The bureau said in a press release on Sunday that R&D spend, which looks to develop new services or products, accounted for 2.4% of China’s gross domestic product.

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