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Zhejiang seeks more than 13% increase in R&D spending in 2021

ezhejiang.gov.cn| Updated: January 21, 2021 L M S

The scientific and technological work conference of Zhejiang province was held in Hangzhou on Jan 21.

The meeting reviewed the achievements made during the 13th Five-Year Plan (2016-20) and the science and technology related work made in 2020. In addition, it mapped out the goals for the 14th Five-Year Plan (2021-25), as well as the major science and technology related tasks for this year.

New achievements were made in scientific and technological innovation in 2020. Zhejiang's R&D expenditure reached 184 billion yuan ($28.48 billion), up 10.2 percent year-on-year, and its R&D intensity reached 2.8 percent.

The value-added of the high-tech industry reached 996.053 billion yuan($154.189 billion), up 9.7 percent year-on-year, 4.3 percent higher than that of enterprises above designed size, while the contribution rate of scientific and technological progress reached 65 percent.

Zhejiang has achieved the strategic goal of "becoming an innovative province by 2020 and basically building a province strong in science and technology".

As this year is the first year of the 14th Five-Year Plan, Zhejiang province is striving to increase its R&D expenditure by more than 13 percent, accounting for 2.9 percent of its GDP. It will also strive for the value added of high-tech industries to be one percent higher than the value added of industry, and for investment in high-tech industries to be growing faster than investment in fixed assets.