Research and Development in China as a Factor of Economic Growth. Statistical Analysis

China is moving to an innovative stage of economic development. When comparing China with the world leaders in the development of science and technology (the EU, the USA, Japan, and the Republic of Korea), China ranks first in terms of people employed in science and technology and second after the United States in terms of research and development costs. China imports many high-tech products, but exports more, being a world leader in the export of office and telecommunications equipment. The high share of high-tech products in the Chinese economy is largely due to the concentration of technology developers' efforts on applied research. Another component of China's economic success in the field of high technology is the combination of a broad research front with a concentration of efforts in particularly relevant areas. Thus, the production of computers, communication and electronic equipment is in the first place in terms of research and development costs from all industries. 20 % of all funds is spent on this area. In the second place is the production of electric machines and appliances (10 % of the cost), slightly less goes to research in the automotive industry. These positions are the strongest in China's exports and account for about 40 % of research and development costs. A very important feature of China's innovation environment is that it is part of China's business. Business, not the government, is the main agent generating research and innovation. An important feature of China's innovation complex is its reliance on a local base combined with attracting investments from other countries. More than 80 % of investments in research and development come from sources in China, but another 9 % each come from Hong Kong, Macau, Taiwan and other countries. Currently, China has developed a modern, powerful and efficient model for the production of knowledge and its rapid implementation in the economy. It is successfully operating, providing high rates of economic growth.

China, high technologies, innovations, economic growth, science financing, employment, universities, government, business