According to Vice Minister of S&T LI Meng, the State Council has approved an increase of R&D spending from the present 2.2 % to 2.5 % by 2020. China also aims to improve its global ranking for national innovation capacity from last year’s No 18 to No 15 by 2020, and its contribution rate of the advancement of science and technology, a universal index used to assess a country’s scientific, technological and economic development, from the current 55.3 percent to 60 percent within four years.

CAS news release, July 26, 2016