China’s R&D spending set to overtake US by 2019

Figures released by the Organization for Economic Cooperation and Development (OECD) indicate China’s spending on research and development will surpass that of the US by 2019. The last time the OECD compiled figures on R&D spending (2012), China’s spending had exceeded that of Japan and was poised to overtake the EU. According to OECD current predictions, China’s annual R&D spend will reach 600 billion by 2024.

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