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R&D Growth Keeps China in Forefront
2022-03-04 17:21

Data released by the National Bureau of Statistics of China shows that China spent around 2.79 trillion yuan ($441 billion) in research and development in 2021, a year-on-year increase of 14.2 percent and a signal that China has achieved a good start to the 14th Five-Year Plan (2021-2025).


R&D spending on basic research had grown to nearly 170 billion yuan in 2021, a 15.6 percent increase over the prior year. China's overall national innovation capability reached 12th place in the world in 2021, climbing two spots.


Beijing, Shanghai and the Guangdong-Hong Kong-Macao Greater Bay Area had also been listed among the world's top 10 innovation hubs in 2021, China has made major strides in basic research, core technologies, institutional reforms and international cooperation.


The country's 169 national high-tech zones recorded total annual revenue of over 48 trillion-yuan in 2021, with a net profit of 4.2 trillion yuan. These high-tech zones account for 0.1 percent of China's land area, yet they are able to produce 13 percent of the country's gross domestic product. These zones are testimony to China's innovation-driven and high quality development.


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