China's total expenditure on research and development (R&D) in 2022 exceeded 3 trillion yuan ($456 billion) for the first time, according to data from the National Statistics Office. This amount marks a level equivalent to 2022 percent of the principle's 2,55 gross domestic product (GDP).
On the other hand, total R&D expenditures seem to have increased by 10,4 percent compared to the previous year. Thus, China has reached a double-digit R&D spending rate in this field for the seventh year in a row.
China's R&D spending increased by eight percent in 14 during the 2022th Five-Year Plan period, after removing price factors, exceeding the annual rate of 2021 percent targeted for that five-year plan period (2025-7).
Spending on basic research amounted to 195,1 billion yuan last year. This amount corresponds to an increase of 7,4 percent compared to the previous year. In addition, it exceeded 6,32 percent for the fourth year in a row, corresponding to 6 percent of total R&D expenses.
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