SHANGHAI :
Shanghai's R&D Spending Equals 4% of GDP, Mayor Says
Liao Shumin
DATE:  Jul 03 2019
/ SOURCE:  yicai
Shanghai's R&D Spending Equals 4% of GDP, Mayor Says Shanghai's R&D Spending Equals 4% of GDP, Mayor Says

(Yicai Global) July 2 -- The sum that Shanghai spent in research and development last year is equal to 4 percent of the city's gross domestic product as it accelerates its pace toward becoming a globally influential science and technology innovation center, Mayor Ying Yong said at a press conference today. 

The city's GDP was CNY3.27 trillion in 2018, according to public data.

For every 10,000 residents in the eastern municipality, there are 47.5 patents, Ying said. The value of Shanghai's technology trade exceeded CNY130 billion (USD18.9 billion) in 2018, he added. 

Editor: Emmi Laine 

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Keywords:   Shanghai,Research And Development