"In 2023, China's business sector contributed about 80% of the nation's US$780 billion expenditure on research and development, up from 75% in 2015. In contrast, the United States saw just 70% of its total expenditure of $820 billion coming from businesses."
"Only a tiny fraction of China's business investment goes to fundamental research, with less than 1% of the research done by its business sector in 2023 focused on fundamental sciences, compared to 6% in the United States."
"To expand innovation, the Chinese government should incentivize companies to funnel extra R&D funds into fundamental research, ensuring that more work is published according to open-science standards and undergoes peer review."
China's firms are increasingly vital to the nation's research system, aligning scientific output with economic needs. In 2023, businesses contributed 80% of China's $780 billion R&D expenditure, up from 75% in 2015. However, only a small fraction of this investment goes to fundamental research, with less than 1% in 2023 compared to 6% in the U.S. To enhance innovation, the Chinese government should incentivize companies to invest more in fundamental research and promote open-science practices for better verification of results.
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