Demystifying central government R&D spending in China
2014
Sun, Yutao | Cao, Cong
China has become a powerhouse in research and development (R&D) spending. In 2012, its gross domestic expenditure on R&D (GERD) topped yuan renminbi (RMB) 1 trillion ($163 billion in current dollars). Measured by purchasing power parity, China's GERD reached $294 billion, behind the United States' $454 billion and the European Union's $341 billion but ahead of Japan's $152 billion (1). China's GERD as a percentage of gross domestic product (GERD/GDP) reached 1.98%; it more than tripled since 1995, surpassing the 28 member states of EU, which together managed 1.96% (1 , 2).
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