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Home Science & Technology Startup Nation Tech Bits

China announces 5-year plan to up investment in tech R&D

by  Noga Martin/ILH Startup Editor
Published on  03-05-2021 13:45
Last modified: 03-05-2021 11:44
China announces 5-year plan to up investment in tech R&DMacau Photo Agency via Unsplash.com

China has made military incursions in Taiwan | File photo: Macau Photo Agency via Unsplash.com

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China will increase its annual research and development spending by more than 7% every year over the next five years, the government wrote on Friday in its work report from the Fourth Session of the 13th National People's Congress.

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The government will increase expenditure on basic research by 10.6% in 2021, the report added.

The ramp-up highlights the country's commitment to advancing in the tech sector, as the country increasingly clashes with the United States and other countries over technology policy.

In its five-year plan, China highlighted seven key areas related to technology it aims to boost: next-generation artificial intelligence, quantum information, brain science, semiconductors, genetic research and biotechnology, clinical medicine and health, and deep space, deep sea and polar exploration.

The government also said it would establish more national laboratories to research quantum information and artificial intelligence.

Other aims include encouraging companies to open up data in areas ranging from search, e-commerce to social media and support the third-party big data services.

Tags: Chinahigh techR&DStartup

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