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China to spend over $2 bn for 40 special, 600 minor projects in R&D in 2018

China is investing heavily in modern technologies including internet of things and Artificial Intelligence

Press Trust of India  |  Beijing 

China to spend over $2 bn for 40 special, 600 minor projects in R&D in 2018

China has budgeted over $2 billion for major research and development programmes this year, reported on Sunday.

The 13 billion yuan ($2 billion) programmes consist of 40 special projects and over 600 minor projects, covering four major fields including social development, high-tech research, agricultural science and technology, and fundamental research, the (MOST) said.

China, which is reconfiguring its by curbing excessive manufacturing, has stepped Research and Development (R&D) budgets in

China is investing heavily in modern of things and (AI).

China has topped globally in 2016 with a record 1.3 million patent applications followed by 605,571 by the US and 318,381 by Japan, according to the official.

According to a guideline on patent budgets soon to be released by MOST, social development will receive the most funds, with 41.7 per cent of the total projects and 34.8 per cent of the budget.

Risk control in public security and technical equipment for emergencies were the two areas with the most funds under social development, according to the guideline.

Medical research is also set to get a big chunk of the budget, with five special projects receiving 1.2 billion yuan in total. From 2016 to 2018, medical research received 30 per cent of the budget for social development.

Another 25.2 per cent of the overall projects are in high-tech, a much lower percentage than for social development projects, yet they will receive 4.4 billion yuan -- close to the amount for social development.

New and additive and manufacturing are the top two in terms of budget, state-run Xinhua news agency reported.

Li Hongjun, at the China Agricultural University, said the budget allocation for research programs reflects the country's emphasis on certain industries.

From 2016 to 2018, the budgets for research on air and causes, as well as for and equipment, reached 2.2 billion yuan, showing that the country has paid more attention to people's health and becoming a strong sea power, Li said.

First Published: Sun, January 07 2018. 20:44 IST