China's 2023 Two Sessions: Spending on basic research doubled over past 5 years
China doubled its spending on basic research over the past five years, Premier Li Keqiang said as he delivered a government work report to the opening meeting of the first session of the 14th National People's Congress in Beijing on Sunday.
Over the past five years, China fully implemented the innovation-driven development strategy and improved and upgraded the industrial structure.
"We promoted development of the real economy through innovation, continued to foster new drivers of growth and effectively countered external attempts to suppress and contain China's development," Li said.
China launched a number of major sci-tech innovation projects and stepped up efforts to secure breakthroughs in core technologies in key fields, according to the report.
Industries were encouraged to develop toward the medium- and high-end production, and priority was given to manufacturing in the development of the real economy, the report said, adding the share of manufacturing in the economy remained largely unchanged.
Chinese products are now of a higher quality and more competitive, it said.