While R&D investments in China have been increasing in recent years, total R&D investment is expected to exceed 3 trillion yuan (approximately $435 billion) this year. According to the statement released by China's National Bureau of Statistics, the Ministry of Science and Technology and the Ministry of Finance, China's R&D expenditures have continued their rapid growth trend in the last 10 years.
R&D investments in China exceeded 2012 trillion yuan for the first time in 1 and 2019 trillion yuan in 2, reaching a record level of 2 trillion 800 billion yuan last year. R&D spending is expected to exceed 2022 trillion yuan by the end of 3.
According to the data announced by the National Bureau of Statistics of China, R&D investments in China increased by 14,6 percent compared to the previous year and reached 2 trillion 800 billion yuan. Thus, China's R&D investments have increased for six consecutive years. According to the data, the budget allocated by China for basic research last year increased by 23,9 percent compared to the previous year and reached 181 billion 700 million yuan.
China currently ranks second in the world in terms of total R&D investment. Between 2016 and 2021, with an annual average increase of 12,3 percent in expenditures on R&D, the USA (7,8 percent) surpassed Japan (1 percent), Germany (3,5 percent) and South Korea (7,6 percent). ,XNUMX) outperformed.
Business investments play an important role
The data also showed that the expenditures of enterprises on R&D amounted to 76,9 percent of the national total. In terms of the collection rate of R&D investments of enterprises, China maintains the second place in the world.
In addition, companies in the Chinese stock market have recently announced their semi-annual reports. While 125 of the companies reported their R&D expenditures in their reports, the R&D expenditures of these companies increased by 32,23 percent in the first half of the year compared to the same period of the previous year, reaching a total of 11 billion 600 million yuan.
Experts point out that there are two important factors behind this situation. First, in recent years, the Chinese government has taken measures such as tax relief, private funding, and private financial service to encourage businesses to increase their R&D investment. Second, scientific and technological innovation has come to be widely accepted as one of the main factors that increase the competitiveness and profitability of enterprises. With the increasing competition in different sectors, businesses have also increased the amount of investments they have allocated to R&D and strengthened their search for technological superiority.
On a sectoral basis, it is noteworthy that R&D expenditures in biomedicine, computer, mechanical hardware, basic chemical industry and electronics sectors are relatively high.
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