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 2018, gross expenditures on R&D in China were expected to reach $475 billion (or 1.97% of GDP), according to R&D Magazine’s 2018 Global R&D Funding Forecast.  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 assimilate and then improve upon Western innovations.  Methods include significant investment in domestic manufacturers…

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