China ramps up tech commitment in 5-year plan, eyes 7% boost in R&D spend

SHANGHAI: China will increase its annual research and development spending by more than 7 per cent every year over the next five years, the government wrote on Friday (Mar 5) in its work report from the Fourth Session of the 13th National People’s Congress.
The government will increase expenditure on basic research by 10.6 per cent in 2021, the report added.
The ramp-up highlights the country’s commitment to advancing in the tech sector, as the country increasingly clashes…

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