China’s spending on Research and Development (R&D) hit a new high of 2.44 per cent of its Gross Domestic Product (GDP) in 2021, up 0.03 percentage points from the previous year, official data showed Wednesday.
National Bureau of Statistics (NBS) said that 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 per cent year on year.
NBS said that after deducting price factors, China’s R&D spending in 2021 rose 9.4 per cent year on year.
