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7/7/2020  
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R&D
Science, Technology and Industry Outlook

China on track to be the world´s top R&D spender by 2019, according to OECD report

China is rapidly expanding its research and development frontier. Source: http://theforesighter.files.wordpress.com/2011/05/ asia20biotech.jpg

China is forecast to overtake the European Union and the United States in research and development, or R&D, spending by the end of the decade, according to an OECD report on the global state of science, technology and industry published last Wednesday.
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The OECD Science, Technology and Industry Outlook 2014 reviews key trends in science, technology and innovation (STI) policies, and performance in more than 45 economies, including OECD countries and major emerging economies. The report draws on the latest OECD work on science and innovation policy analysis and measurement.

The report revealed that China was the second largest R&D spender in 2012 after the US. According to the last biennial report, OECD Science, Technology and Industry Outlook 2014, China’s intensity in research and development is driven by economic dynamism and its long-term commitment to science and technology innovation.

China has the ambition to spend 2.5% of gross domestic product, or GDP, on research by 2020 – and already spent 1.98% in 2012, the period under review.

According to the report, China has the world’s largest pool of human resources for science and technology but the tertiary-qualified share of the population remains extremely low.

Chinese universities awarded over 27,000 doctorates in science and engineering in 2011, possibly more than their American counterparts (24,792). The doctoral graduation rate in all disciplines in China (2.2%) is now equivalent to that of Denmark (2.2%) and Austria (2.1%),” says the report.

The report predicts that under current economic conditions, a strong resurgence in research, development and innovation over the next two years is unlikely – but prospects could improve by 2015.

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