China will continue boosting state investment in and support for science and technology research this year, even as top officials refrained from mentioning a controversial industrial plan that has drawn criticism from the West.. Read more at straitstimes.com.
China will continue boosting state investment in and support for science and technology research this year, even as top officials refrained from mentioning a controversial industrial plan that has drawn criticism from the West.
However, these are among the sectors outlined in the Made in China 2025 industrial plan, which had raised the ire of the White House. It argued that China's state-led interventions to boost high-tech manufacturing create unfair competition and are aimed at global dominance of important sectors. Tariffs imposed by US President Donald Trump took aim at many of the sectors included in the plan.
Among the key reforms is the overhaul of government-funded projects' management system"premised first of all on trust of our scientific personnel", he said. On Sunday, Beijing said its R&D budget will increase to 2.5 per cent of GDP gross domestic product this year compared to with 2.18 per cent in 2018 last year. This means China will meet its R&D budget goal a year ahead of schedule, and that will put its spending ahead of the average spent by OECD countries in the Organisation for Economic Cooperation and Development countries for the first time.
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