China saw robust growth in research and development (R&D) expenditures in 2021 according to the latest raft of official government data.
In 2021 China’s national R&D expenditures totalled 2.7864 trillion yuan (approx. USD$441.5 billion), for year-on-year (YoY) growth of 14.2%, according to data from the “2021 National Economic and Social Development Statistical Report” (2021年国民经济和社会发展统计公报) released by the National Bureau of Statistics on 28 February.
Chinese R&D spending accounted for 2.44% of China’s national GDP in 2021.
Report data further indicates that as of the end of 2021 China’s National Fund for Technology Transfer and Commercialisation (国家科技成果转化引导基金累) had established 36 sub-funds, with a total funds scope of 62.4 billion yuan.
In 2021 China’s patent authorisation volume grew 26.4%, with a total of 7.5 high-value patents per 10,000 people by the end of the year.