China spent 245 billion yuan (30.6 billion U.S. dollars) on scientific research and development (R&D) in 2005, a rise of 24.6 percent, or 48.4 billion yuan more than in 2004.

A report jointly published on Thursday by the National Bureau of Statistics and the ministries of science and finance said the investment accounted for 1.34 percent of China's 2005 gross domestic product, which climbed to 18.3 trillion yuan.

The investment from state coffers, which accounted for 3.9 percent of the nation's total expenditures in 2005, amounted to 133.5 billion yuan, an increase of 21.9 percent, or 24 billion yuan more than the previous year.

R&D funds coming from enterprises stood at 167.4 billion yuan, making up 68.3 percent of the total investment. Government departments and research institutes invested 51.3 billion yuan, accounting for 20.9 percent, while funds from colleges and universities amounted to 24.2 billion yuan, making up 9.9 percent investment in R&D.

The two departments have jointly released an annual report on R &D investment since 1999.

(1 U.S. dollar = 8 yuan)

Source: Xinhua