China's R&D Salaries to Reach Over USD72,500 a Head by 2020, Ministry Says
Yicai Global
/SOURCE : Yicai
China's R&D Salaries to Reach Over USD72,500 a Head by 2020, Ministry Says

(Yicai Global) April 20 -- China's annual funding for research and development staff will rise to CNY500,000 (USD72,560) a head by 2020 from CNY370,000 in 2014, further narrowing the gap between China and western countries, according to a plan recently published by the Ministry of Science and Technology.

The total number of R&D professionals will also increase under the plan. On average, 48 out of every 10,000 employees worked in R&D in 2014, and that figure is now set to grow to above 60 by 2020.

Basic science researchers will make up roughly 7 percent of the total number of R&D professionals by 2020, and groups of prominent world-class scientists, engineers and entrepreneurs will be fostered in basic research, the latest technologies, strategic high-tech, key industries and emerging technology businesses.

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Keywords: R&D , Salaries