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26.01.22 13:01

Society

China's expenditure on research and development reaches new high in 2021

The country's total spending on R&D amounted to about $441.13 billion

China's spending on research and development (R&D) hit a new high of 2.44 percent of its gross domestic product (GDP) in 2021, up 0.03 percentage points from the previous year, official data showed Wednesday, as reported by Xinhua News Agency, a partner of TV BRICS.

The country's total expenditure on R&D amounted to about 2.79 trillion yuan (about 441.13 billion U.S. dollars) last year, up 14.2 percent year on year, according to a report released by the National Bureau of Statistics (NBS).

After deducting price factors, China's R&D spending in 2021 rose 9.4 percent year on year, said the NBS.

Photo: Xinhua News Agency

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China's expenditure on research and development reaches new high in 2021

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