Beijing plans to narrow the science gap with developed countries and become a leading technological power, the South China Morning Post reported. China will increase R&D investment to 2.5% of GDP over the next 15 years, and put a 30% cap on foreign technology, Finance Ministry official Jia Kang said. The planned investment boost will increase R&D spending to US$111.7 billion a year by 2020, more than double the amount spent in 2004. The National and Long-term Science and Technology Development Outline report comes a month ahead of the National People's Congress annual conference.
Categories