Investment Updates News
- Chinese firms invest more in R&D
Date: 27-Nov-2006 Sources: (Xinhua Online)
Chinese large and medium-sized industrial enterprises invested 125 billion yuan (15.6 billion U.S. dollars) in research and development in 2005, an increase of 31 percent year-on-year, according to sources with the National Bureau of Statistics.
Ma Jingkui, a senior NBS official, told a press conference held here Saturday that R&D funds represented 0.76 percent of prime operating revenue in 2005, compared with 0.71 percent in 2004.
'Large and medium-sized industrial enterprises are starting to play a bigger role in innovation as government policies in support of corporate innovation begin to take effect', said Ma.
Statistics show large and medium-sized firms received 4.54 billion yuan of R&D funding from the government, a year-on-year increase of 28.6 percent.
But investment in research in China still has a long way to go. Chinese R&D investments represent 1.34 percent of GDP, compared with two percent in developed countries.
Ma pointed out that less than one fourth of large and medium-sized enterprises carry out research and development activities and less than 10 percent own patents.
Statistics show firms in dynamic, outward-looking eastern China provided over 75 percent of the total research and development investment in 2005.
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