China's spending on R&D reaches new high in 2021
Xinhua | Updated: 2022-01-26 13:15
BEIJING -- 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) 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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