R&D Expands in Chinese Research Parks/Patent Filings Soar, Business and Industry Trends Analysis

There are three trends at work in the growth of R&D in China.  The first is that R&D spending has been growing significantly since 2006.  For 2016, gross expenditures on R&D in China were $401.0 billion (or 2.0% of GDP), and were estimated to rise to $429.5 billion (2.0% of GDP) in 2017, according to the Industrial Research Institute (IRI) and Research Technology Management (RTM)/R&D Magazine.  China has R&D goals laid out in the National Medium- and Long-Term Plan for the Development of Science and Technology, which is updated on a regular basis.  Of importance, the plan outlines ways to…

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