In 2018, China has increased investment in science and technology. Spending on research and experimental development (R&D) has maintained rapid growth. The growth rate of government expenditure on science and technology has accelerated, and the fund investment intensity of R&D has continued to increase.
In 2018, a total of CNY 1967.79 billion was invested in R&D throughout the country, with an increase of CNY 207.18 billion and 11.8% over the previous year. The fund investment intensity of R&D (compared with GDP [2]) was 2.19%, 0.04% higher than the previous year. According to the full-time workload of R&D personnel, the per capita expenditure was CNY 449,000, with an increase of CNY 13,000 over the previous year.
In 2018, the government expenditure on science and technology was CNY 951.82 billion, with an increase of CNY 113.46 billion and 13.5% over the previous year. Government expenditure on science and technology was 4.31% higher than that of the previous year, 0.18% higher than that of the previous year. Among then, the science and technology expenditure of central government was CNY 373.85 billion, with an increase of 9.3% and accounting for 39.3% of the financial expenditure for science and technology. The science and technology expenditure of local government expenditures was CNY 577.97 billion, with an increase of 16.5% and accounting for 60.7% of the total.
Data showed that in 2018, the R&D expenditure in China increased by CNY 207.18 billion over the previous year, with an increase of 11.8%. It had maintained a double-digit growth rate for three consecutive years, continuing the fast growth momentum since the “13th Five-Year Plan”. The fund investment intensity of R&D increased 0.04% over the previous year, more than 2% for five consecutive years, and to an all-time high.
Since 2013, when the total R&D expenditure of China surpassed that of Japan, the domestic R&D expenditure has been ranking second in the world. The fund investment intensity of R&D in China in 2018 exceeded the average level of the 15 EU countries in 2017 (2.13%), which equivalents to 12th out of 35 countries in the Organisation for Economic Co-operation and Development (OECD) in 2017, and approaches the OECD average (2.37%).
But we also should find that there is still a large gap between fund investment intensity of R&D in China and that in America (2.79%), Japan (3.21%) and other world science and technology powers. Low proportions of fundamental research and government funds, etc., are still prominent. And the important scientific and technological achievements that can truly form key core technologies and solve bottlenecks are still insufficient, and investment efficiency shall be further improved. To this end, China should further increase financial support, improve the policy system to encourage investment in research and development, guide all sectors of society to invest in fundamental research and layout, strengthen overall coordination, promote the reform of management evaluation mechanism, enhance the utilization efficiency of fund, and improve the effectiveness and pertinence of science and technology investment.
In 2018, a total of CNY 1967.79 billion was invested in R&D throughout the country, with an increase of CNY 207.18 billion and 11.8% over the previous year. The fund investment intensity of R&D (compared with GDP [2]) was 2.19%, 0.04% higher than the previous year. According to the full-time workload of R&D personnel, the per capita expenditure was CNY 449,000, with an increase of CNY 13,000 over the previous year.
In 2018, the government expenditure on science and technology was CNY 951.82 billion, with an increase of CNY 113.46 billion and 13.5% over the previous year. Government expenditure on science and technology was 4.31% higher than that of the previous year, 0.18% higher than that of the previous year. Among then, the science and technology expenditure of central government was CNY 373.85 billion, with an increase of 9.3% and accounting for 39.3% of the financial expenditure for science and technology. The science and technology expenditure of local government expenditures was CNY 577.97 billion, with an increase of 16.5% and accounting for 60.7% of the total.
Data showed that in 2018, the R&D expenditure in China increased by CNY 207.18 billion over the previous year, with an increase of 11.8%. It had maintained a double-digit growth rate for three consecutive years, continuing the fast growth momentum since the “13th Five-Year Plan”. The fund investment intensity of R&D increased 0.04% over the previous year, more than 2% for five consecutive years, and to an all-time high.
Since 2013, when the total R&D expenditure of China surpassed that of Japan, the domestic R&D expenditure has been ranking second in the world. The fund investment intensity of R&D in China in 2018 exceeded the average level of the 15 EU countries in 2017 (2.13%), which equivalents to 12th out of 35 countries in the Organisation for Economic Co-operation and Development (OECD) in 2017, and approaches the OECD average (2.37%).
But we also should find that there is still a large gap between fund investment intensity of R&D in China and that in America (2.79%), Japan (3.21%) and other world science and technology powers. Low proportions of fundamental research and government funds, etc., are still prominent. And the important scientific and technological achievements that can truly form key core technologies and solve bottlenecks are still insufficient, and investment efficiency shall be further improved. To this end, China should further increase financial support, improve the policy system to encourage investment in research and development, guide all sectors of society to invest in fundamental research and layout, strengthen overall coordination, promote the reform of management evaluation mechanism, enhance the utilization efficiency of fund, and improve the effectiveness and pertinence of science and technology investment.