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China ramps up tech in 5-year plan, eyes 7% boost in R&D spend
- Saturday | 6th March, 2021
The government will increase expenditure on basic research by 10.6% in 2021, the report added. The ramp-up highlights the country’s commitment to advancing in the tech sector, as the country increasingly clashes with the United States and other countries over technology policy. The government also said it would support foreign-funded companies to set up R&D centers in China, and called for China to establish international science and technology-related organizations within the country. The government aims to achieve 5G penetration of 56% in the next five years, according to the plan. (Reporting by Josh Horwitz in Shanghai and Yingzhi Yang and Yilei Sun in Beijing; Editing by Sam Holmes and Gerry Doyle)
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