South Korean media: China's R&D investment exceeded South Korea's annual government budget last year!

On October 27, the South Korean media "Herald Economy" published an article stating that China's total R&D expenditure in 2023 exceeded 700 trillion South Korean won, surpassing the South Korean government's annual budget.

Recently, the National Bureau of Statistics of China announced that the total R&D expenditure in China last year reached 3.63268 trillion yuan (approximately 715.1 trillion South Korean won), an increase of 8.9% compared to the previous year.

This is more than the 656.6 trillion South Korean won budget of the South Korean government for 2024.

The total R&D expenditure in China in 2023 was 3.33571 trillion yuan (approximately 656.7 trillion South Korean won), which is slightly higher than the 638.7 trillion South Korean won budget of the South Korean government for that year. According to the Ministry of Science and ICT of South Korea, the total R&D funding in South Korea in 2023 was 119.74 trillion South Korean won.

The R&D funding of China from 2021 to 2024 increased by an average of 10.5% per year. In 2024, the total amount ranked second, just behind the United States. This is 3.5 times that of Japan, the third-ranked country, and 3.7 times that of Germany, the fourth-ranked country.

Last year, the proportion of China's R&D funding to GDP increased by 0.11 percentage points, reaching 2.69%, ranking 12th in the world.

By R&D fields, basic research funding was 250.09 billion yuan, an increase of 10.7% compared to the previous year. Applied research funding was 430.55 billion yuan, an increase of 17.6%, and experimental development funding was 2,952.04 billion yuan, an increase of 7.6%.

The scale of R&D funding invested in various regions was as follows: Guangdong (509.9 billion yuan), Jiangsu (459.7 billion yuan), Beijing (327.8 billion yuan), Zhejiang (290.1 billion yuan), and Shandong (259.7 billion yuan).

By industry, the scale of R&D funding invested by large-scale enterprises was as follows: computer, communication and other electronic equipment manufacturing, electrical machinery and equipment manufacturing, and automobile manufacturing.

Original: www.toutiao.com/article/1847121395145738/

Statement: The article represents the views of the author.