Research and Development Sector News
- China overtakes Japan on R&D
Date: 5-Dec-2006 Sources: (Shenzhen Daily)
THE country has overtaken Japan to become the second biggest spender on research and development behind the United States, a report from the France-based Organization for Economic Cooperation and Development (OECD) revealed.
The country is expected to invest US$136 billion in research and development this year after growing by more than 20 percent in the past year, ahead of the US$130 billion from Japan but still well behind the US$330 billion the United States will invest, the OECD said.
Last year, China's vehicle output grew 12.56 percent versus 2004 to 5.71 million units, according to statistics from the China Association of Automobile Manufacturers.
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