News & Views item - October 2007

 

OECD Reports China's R&D Spending Has Risen by 19% a Year Since 1995. (October 15, 2007)

China's R&D spending has risen by 19% a year since 1995, according to a new analysis by the Organisation for Economic Co-operation and Development (OECD), while the Chinese government in a newly released report claims that research spending this year has climbed to A$44 billion, a 22% increase from last year, bringing it to 1.4% of China's GDP.

 

72% of that is provided by the the private sector.

 

According to the OECD report, China now ranks sixth in research spending. However, the OECD also comments that "top-down decision-making and a limited investment in basic research have hindered the payoff from such investments."