How will China’s surging R&D investment impact hiring?
Note: This article was originally published in DSJ Global in July 2019. Dr Yanfei Li was featured.
In 2018, China’s corporate spending on research and development (R&D) surged by 20%. While PwC reported that Chinese companies spend on R&D grew the most globally in the 12 months to June 2018, at an increase of 34%. However it’s being measured, one thing is clear: Chinese firms are investing heavily in R&D and are almost to the point of parity (in terms of spending power, if not dollar for dollar) with the US. According to the Brookings Institute, this upswing in R&D investment has bolstered the country’s economic growth.