The National Bureau of Statistics (NBS) recently released data which indicatedChina's achievements in scientific and technological innovations over the past seven decades.
According to NBS, China's research and development (R&D) spending hit 1.97 trillion yuan in 2018 ($286 billion), 138 times the 1991 figure, and the number of patent applications saw substantial growth.
Experts noted that enterprises were the primary driver forChina's fast-growing innovations. In 2017, Chinese enterprises spent 1.35 trillion yuan on R&D, accounting for 76.5 percent of the national total.
More companies today value scientific and technological innovations and regard innovation as the lifeblood of development, according to Zhao Zhiyun from the Institute of Scientific and Technical Information of China.
In 2017,China's high-tech manufacturing industry created 15.9 trillion yuan in main business income, up 55.8 percent compared with 2012. R&D expenditure used for high-tech manufacturing increased by 83.6 percent, with an annual growth of 12.9 percent on average.