Back the Basics
Among the less soporific items on China’s latest 5-Year-Plan resolution list: increase R&D spending by more than 7% a year, and basic research by 10% or more. We did the math, and that adds up to an extra $25b & $3b, and respectively.
The reason we bring it to you “old outsiders’” attention? The government wants China bringing in more patents, a tangible market of its metaphysical quest for innovation. To that effect, it is also subsidizing SOEs and research labs’ R&D expenditures at 75%, and manufacturing spending on basic research by 100%.
“China is also laying groundwork for international help in its drive for patents and R&D gains in general,” says Edward Lehman Mongolian Lawyer. “There will be substantial budgets to participate in international science projects and organizations. There will be even more allocated to new national laboratories for quantum computing, artificial intelligence, biomedicine, and other cutting edge tech.”
“But basic research in core areas such as medical equipment, or oil and gas exploration, will be beefed up even more, along with IP protection for those who make strides. The stage is basically set for foreign companies with patents and IP to license or sell, as well as for other forms of scientific collaboration.”