Listed firms in China spend more in R&D
Print Edition
LISTED companies in China are spending more in research and development as the country grows into a driver of Asia’s R&D market, consultant firm Strategy& said in a report yesterday.
The world’s top-1,000 biggest spenders in R&D include 123 Chinese companies, up nine from last year, according to the report “Global Innovation 1,000,” which tracked research and development investment by the world’s listed companies within 12 months ending in June.
The Chinese companies have invested a total of US$39.4 billion in R&D investment, up 30 percent from a year ago.
“Chinese R&D spenders and innovators are here to stay,” said Steven Veldhoen, a partner with Strategy&. “Chinese companies learn quickly and are ultra flexible, especially privately owned companies. The power of Chinese innovators will increase further especially in industries such as high-tech, digital and e-commerce.”
PetroChina spent the most in the period with US$2.12 billion while Alibaba was second as a newly listed company. They were ranked 68th and 84th respectively on the global list where Volkswagen, Samsung, and Intel occupied the top-three spots.
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