Economic

Chinese firms ramp up R&D spending as they catch up with the West

“Companies based on the mainland of China have increased their spending by a factor of 15 over the past decade, according to a report from the management consulting firm ‘Strategy&,’ and the number of Chinese firms on Strategy&’s 2014 Global Innovation 1000 has gone from eight in 2005 to 114 today.”

Source:Chinese firms ramp up R&D spending as they catch up with the West

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