R&D is on the rise in China, as the country attracted $5.5 billion in 88 foreign greenfield R&D projects from 2010 to 2014, according to fDi Markets. This places China at the top globally in amount invested in such projects, and second in number of projects to the US, which had 91. The pharmaceuticals, business machines and equipment, and consumer electronics sectors had the highest funding, with investments in the last five years of $1.6 billion, $817 million and $540 million, respectively. According to fDi, US companies have invested the most in Chinese R&D, with $1.6 billion from 2010 to 2014 by 32 companies on 36 projects. Chinese companies are also increasing their R&D spending, with 46% domestic growth last year, compared with single-digit increases in North America and Europe. In addition, Strategy&’s 2014 Global Innovation 1000 listed 114 companies headquartered in China in 2014, up from 8 in 2005. The Chinese government is also scaling up its funding of R&D.

Source: Financial Times