BIZCHINA / Biz Media Digest
Science & Technology: Spending on R&D grows
(Shanghai Daily)
Updated: 2006-09-15 14:04
Spending on research and development (R&D) in China rose 24.6 percent in
2005 to 245 billion yuan (US$30.6 billion), the National Bureau of
Statistics said yesterday.
Companies invested 167.38 billion yuan, government-run research
institutions spent 51.31 billion yuan, and universities laid out 24.23
billion yuan, the bureau, in conjunction with the Ministry of Science and
Technology and the Ministry of Finance, said in a statement.
Total spending on R&D was 1.34 percent of China's gross domestic product,
the statement said. In comparison, the ratio of R&D expenditures to GDP
in the United States was 2.68 percent in 2004.
The ratio is an indicator that demonstrates a nation's scientific
development scale and partly reflects its potential for economic growth.
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