Chinese companies accounted for more than 77 per cent of the country’s total spending on research and development in 2018, according to an official report. Photo: Bloomberg
China’s spending on research and development up 11.8 per cent to US$275 billion in 2018
- Total represents 2.19 per cent of nation’s gross domestic product, but government actuary says investment has yet to yield any ‘breakthrough’ results
- Report by OECD, based on figures for 2017, says China still lags average of its 36 members in terms of R&D spending as a percentage of GDP
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China economy
Chinese companies accounted for more than 77 per cent of the country’s total spending on research and development in 2018, according to an official report. Photo: Bloomberg