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English > Finance&Economy > Finance-Breakingnews>R&D Spending Reaches 1.49% of GDP

R&D Spending Reaches 1.49% of GDP

12-01 13:01 Caijing Magazine

Full article in Chinese: http://www.caijing.com.cn/2008-12-01/110033029.html


In 2007 China's spending on research and development (R&D) reached 371 billion yuan accounting for 1.49 percent of the country's GDP, according to Wan Gang, minister of Science and Technology. The minister said that China will further increase investment in technology innovation. By 2020, the government will invest 690 billion yuan in nine major technology projects.

 

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