Over the next five years, China plans to invest substantially more in research on basic technology.
The March 5 draft of China’s 14th Five-Year Plan outlines a drive for self-reliance in science and technology.
The draft establishes three major indicators. From 2021 to 2025, China’s research and development (R&D) spending will increase by more than 7% a year.
The number of high-value patents per 10,000 people will increase from 6.3 in 2020 to 12 in 2025.
The added value of digital-economy core industry as a proportion of GDP will rise from 7.8% in 2020 to 10% in 2025.
The word “innovation” occurs frequently in China’s five-year plan for the second time.
In the draft of the 14th Five-Year Plan, “Insisting on Innovation-Driven Development” was presented as the second chapter, underscoring its importance.
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