Beijing has declared its ambition of making China a world technological power by 2049, the centenary of the communist revolution, Xinhua news agency reports.
According to Xinhua, a government document released on 23 September by the Communist Party Central Committee and the State Council, or the Cabinet, China aims to be “in the ranks of innovative nations” by 2020. This requires increasing R&D spending to 2.2 per cent of GDP by the end of the 12th Five-Year Plan (2011-2015) and to over 2.5 per cent by 2020, the statement said.
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