News Snapshot:
Research and development spending made up a record 2.4 per cent of China’s economy in 2020, according to government statistics, moving closer to levels of R&D intensity in other advanced economies as spending slowed down as a result of interruptions from the Covid-19 pandemic. China spent a total of 2.43 trillion yuan (US$375.7 billion) on R&D in 2020, up 10.2 per cent from the previous year, according to a report published jointly by the National Bureau of Statistics, the Ministry of Science and Technology and the Finance Ministry on Wednesday. It marked a slowdown from 12.5 per cent growth in...
