China to increase Research and Development spending by more than 7% per year

Photo/ by Zheng Liang

China will increase its spending on the research and development sector by 7% between the years 2021 and 2025.

Chinese Premier Li Keqiang said that China will increase in spending to push, "major breakthroughs" in the field of science and technology.

The words from the Chinese premiere came during a speech at China's annual parliamentary meeting.

In recent years, China's technological war with the  United States has deepened. The US has sanctioned  Chinese company Huawei and a Chinese video-sharing app TikTok.

China is trying to boost its capability in a number of technological areas.

Li Keqiang said that China’s research and development spending will increase by more than 7% per year between 2021 and 2025.

He, however, did not give exactly how much the government will be spending in absolute terms.

“To improve China’s innovation system, we will work faster to enhance our strategic scientific and technological capability underpinned by the development of national laboratories, strive to make major breakthroughs in core technologies in key fields, and formulate and implement a ten-year action plan for basic research,” he said.

In China's five-year-plan, the country will be focusing on a number of technological areas including semiconductors, health care, quantum computing, and cloud computing.


Publish : 2021-03-05 15:59:00

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