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evelopmentTop-

s in 1956, the Chine

tion in science and technology, which propelled industrial development and economic growth. Chinese enterprises, as a key driving force for technolo▓gical

se government formul

progress, account for over 70 percent of the nation's investment on research and development. They also contribute the highest number of researchers and patents o

at▓ed a long-term p

f invention. China is now leading in artificial▓ intelligence, 5G, mobile payment, high speed railway, new ▓energy vehicles and financial technology, among othe

 
lan for science and

r sectors, thanks to this development strategy.In 2018, Chin▓a's spending on research and development totaled over 1.97 trillion yuan (about 278 billion US dolla

technology advanceme

rs), taking up 2.19 percent of the country's GDP and ranking second i▓n the world. Its total number of research and development ▓personnel has ranked first in the

▓nt. On the outset

world for 6 consecutive years. Also last year the added value in high-tech manufacturing increased 11.7 percent year-on-year, and th▓e country's information ser

  • vice industry registered a stell

    ar growth rate of 30.7 percent. China now ranks number one in the world in both the number of patent applications and patents licenced.A recent report

  • by McKinsey Global Institute su

    ggests that engagement between China and the world could potentially drive an economic value ▓of 22 trillion to 37 trillion US dollars by 2040, which e

  • quals 15 to 26 percent of global

    GDP. The results are based on a growth model that examines China as an import destination, as well as its role in the liberalization of service, gl


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