Science & Technology: Spending on R&D grows
(Shanghai Daily)
Updated: 2006-09-15 14:04 Spending on research and development
(R&D) in China rose 24.6 percent in 2005 to 245 billion yuan (US$30.6
billion), the National Bureau of Statistics said yesterday.
Companies invested 167.38 billion yuan, government-run research institutions
spent 51.31 billion yuan, and universities laid out 24.23 billion yuan, the
bureau, in conjunction with the Ministry of Science and Technology and the
Ministry of Finance, said in a statement.
Total spending on R&D was 1.34 percent of China's gross domestic product,
the statement said. In comparison, the ratio of R&D expenditures to GDP in
the United States was 2.68 percent in 2004.
The ratio is an indicator that demonstrates a nation's
scientific development scale and partly reflects its potential for economic
growth.
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