During a year, China spent over $440 billion on research and development

BEIJING, January 29, 2022, 15:40 — REGNUM China's total research and development (R&D) spending in 2021 accounted for 2.44% of its total gross domestic product (GDP). The news is reported by the China Daily, quoting a report by the China's National Bureau of Statistics.
In 2021, R&D spending in China reached a new high. The share of R&D spending in total GDP increased by 0.03 percentage points compared to 2020.

The country's total spending on research and development in 2021 was about 2.79 trillion yuan (about $441.13 billion). On a year-on-year basis spending rose by 14.2%. Given the inflation and other economic factors, last year, China's R&D spending rose by 9.4% year-on-year.

China's GDP in 2021 amounted to over 114 trillion yuan ($17.9 trillion). Compared to 2020, China's GDP grew by 8.1% against the government's target of at least 6%.
Source: regnum.ru