The Chinese government is driving ongoing gains in basic research expenditures as part of broader policy ambitions to transform the country into a global scientific and technological leader.
China’s basic research expenditures nearly doubled during the 13th Five Year Plan (2016 – 2020) according to the latest figure from the Ministry of Science and Technology (MOST)
Basic research spending is expected to breach 150 billion yuan in 2020, after hitting 133.6 billion yuan in 2019 to exceed 6% of all R&D expenditures in China for the first time.
MOST said that it hopes for China’s basic research expenditures to account for around 8% all R&D spending by the end of the 14th Five Year Plan (2021 – 2025).
In early March President Xi Jinping published an essay calling for China to transform itself into a “global science hub” and “innovation high ground,” stressing the role that science and technology will play in driving future economic development.