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China’s R&D Trails Far Behind the West

Study Times published an article discussing the need for China to develop an effective strategy to increase national competitiveness through innovation. In 2007, the U.S. spent a great deal of money on research and development. The total was $368 billion, which is 2.68% of its GDP, or $1,265.70 per person. In comparison, China currently spends about $48.7 billion on R&D, which is 1.46% of its GDP, or $37 per person. At the industry level, the transition from scientific and technological success to manufacturing and production has been very slow. Only 25% of the technological breakthroughs have made this transition, which is way behind the 80% rate in developed countries. Further, less than 5% of these successes have been developed to the point of full production. The article recommended upgrading industries in the following areas: new energies, information, biology, material, medicine, environmental protection, oceanography, and space, as well as other new emerging industries.

Source: Study Times, March 5, 2012