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BEIJING, Jan. 24 (Xinhua) — China’s total spending on research and development reached regarding 3.09 trillion yuan (regarding 456 billion U.S. dollars) in 2022, up 10.4 percent year on year, according to the National Statistics Authority.
After deducting price factors, China’s research and development spending in 2022 rose 8 percent year on year, according to the authority.
China’s total R&D spending accounted for 2.55 percent of GDP last year, up 0.12 percentage points from the previous year.
The data showed that investment in basic research reached 195.1 billion yuan last year, up 7.4 percent year on year, accounting for 6.32 percent of the total R&D spending.
