China's R&D expenditure surges

China's R&D expenditure surges


The sum spent on research and development (R&D) in China rose 12.4 percent year on year in 2014, an encouraging trend as the country has vowed to seek innovation-led growth, an official report indicated on Thursday.

The Economic and Social Development Report 2014 from the National Bureau of Statistics showed 1.33 trillion yuan (216.8 billion U.S. dollars) was spent on R&D last year, 140.6 billion yuan more than in 2013.

The expenditure accounted for 2.09 percent of China's GDP last year, inching up 0.01 percentage points from 2013, when the ratio exceeded 2 percent for the first time.

Intellectual property watchdogs accepted 2.36 million patent applications in 2014 and granted 1.3 million patents.

(Source: Xinhua)

People watch

It is lucky for Chen Jun to began his career in the IP industry 14 years ago when the first group of IP managers for businesses appeared on the stage in China and he has been in the industry.

It was this “Whampoa Military Academy” for IP that educated China’s first batch of corporate IP management personnel. Many of these engineers left Foxconn in the years since.