China's R&D spending estimated to reach 2.4 trillion yuan in 2020: Ministry of Science and Technology
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China’s research and development (R&D) spending is estimated to have reached 2.4 trillion yuan ($371 billion) in 2020, official data from the Ministry of Science and Technology showed Friday.

Photo taken in November, 2020, shows researchers at the Beijing Institute of Genomics under the Chinese Academy of Sciences doing experiments. (Photo provided to Xinhua)

China’s science and innovation capabilities have increased significantly since 2016, and achieved historical, holistic and structural changes, said Wang Zhigang, minister of Science and Technology, at a press conference.

The country’s scientific and technological progress contributed to more than 60 percent of its economic growth, and more than 10 percent of Chinese citizens are now scientifically literate, noted Wang.

Wang added that China’s ranking in the Global Innovation Index jumped from 29th in 2015 to 14th in 2020, marking decisive achievements in building an innovative country.

(Compiled by Liu Kechen)