In China, R&D grew in 2012

Feb. 22, 2013 at 2:13 PM

BEIJING, Feb. 22 (UPI) -- China's National Bureau of Statistics said research and development spending reached a milestone of 1 trillion yuan or $162.2 billion in 2012.

Spending on researched reached 1.97 percent of China's gross domestic product in 2012, Xinhua reported Friday.

That's a jump from 1.84 percent of the GDP in 2011 and 1.75 percent in 2010.

As a result, patents issued in 2012 from both domestic and foreign offices jumped 26.1 percent to 217,105, the State Intellectual Property Office said.

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