News & Reports News Year 2013 February 2013 China's spending on R&D climbs 17.9%

China's spending on R&D climbs 17.9%


China's spending on research and development rose 17.9 percent to 1.02 trillion yuan (US$162.24 billion) last year, official data showed yesterday.

R&D expenditure represented 1.97 percent of the gross domestic product in 2012, up from the 1.84 percent and 1.75 percent registered in 2011 and 2010 respectively, the National Bureau of Statistics said.

China's annual R&D spending grew on average by more than 20 percent for six straight years since 2006 before slowing slightly last year, according to the bureau.