China's R&D investment to surpass EU within five years

Commission of European Union worries that in the coming five years, the proportion of China's investment in research and development in its GDP will be higher than that of the European Union, according to sources from Brussels, Belgium.

With the continuation of the present growth, the research and development expenditure proportion of the public and private departments within the European Union in the GDP will increase from 1.93 per cent in 2003 to 2.2 per cent in 2010, far lower than the 3 per cent target set by the leaders of the European Union countries, a part of "Lisbon Strategy'' set in 2002.

China's investment in research and development accounted for only 1.31 per cent of its GDP in 2003, however, China is registering a double-digit growth rate at present.

By People's Daily Online



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