China to increase annual R&D spending by 7% according to new plan

Fahad PervezWeb Editor

06th Mar, 2021. 12:12 am

The people’s Republic of China has planned to increase its spending by 7 % into its annual research and development (R&D) according to its new 5-year plan, the government said on Friday in its work report from the Fourth Session of the 13th National People’s Congress.

According to the reports, the Chinese government will be increasing its expenditure on basic research by 10.6 % this year alone. The flow in investment also describes the nation’s pledge to further advance its tech sector, which will come due to the several clashes between China and the US, and other states of the world as well, over technology policies.

The areas in which investment is going to be increased are ‘next-generation artificial intelligence, quantum information, brain science, semiconductors, genetic research and biotechnology, clinical medicine and health, and deep space, deep sea, and polar exploration.’

Moreover, it further added that it would also seek to establish more national laboratories to research quantum information and artificial intelligence as well. Additionally, the government will be encouraging companies to open up data in areas ranging from search, e-commerce, along with social media as well, to support third-party data services.

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