R & D spending in chemical raw materials and chemical products manufacturing hits record high

On September 18, the "Statistical Bulletin on National Science and Technology Funding in 2022" jointly issued by the National Bureau of Statistics, the Ministry of Science and Technology, and the Ministry of Finance showed that China's total investment in research and experimental development (R & D) funding in 2022 exceeded 3 trillion yuan, reaching a new level. Among them, R & D investment in chemical raw materials and chemical products manufacturing exceeded 100 billion for the first time.
  The communiqué pointed out that among industrial enterprises above designated size in 2022, there will be 7 major industry categories with research and experimental development (R D) expenditures exceeding 100 billion yuan, an increase of 2 over the previous year, and the expenditures will account for the research and experimental development of all industrial enterprises above designated size. The proportion of R D funding is 63.2%.
  The R & D intensity of the chemical raw materials and chemical products manufacturing industry has grown steadily. In 2022, R & D investment ranks seventh, an increase of nearly 15 billion yuan compared with 2021, and an increase of more than 20 billion yuan compared with 2020, reaching 100.49 billion yuan. The R D investment intensity is 1.06%.
  Recently, the China Enterprise Confederation and the China Entrepreneurs Association launched the 2023 Top 100 Innovation Enterprises in China, which also proved this trend. Chemical raw materials and chemical manufacturing companies accounted for 7%, ranking third among all industries.
  In addition, the R D expenditure of the petroleum, coal and other fuel processing industry reached 17.06 billion yuan, and the R D expenditure intensity was 0.27%; the R D expenditure of the chemical fiber manufacturing industry reached 17.10 billion yuan, and the R D expenditure intensity was 1.56%; The R D expenditure of the rubber and plastic products industry reached 53.55 billion yuan, and the R D expenditure intensity was 1.76%; the R D expenditure of the oil and natural gas extraction industry reached 12.18 billion yuan, and the R D expenditure intensity was 0.96%.
  The National Bureau of Statistics said that in the next stage, on the one hand, it is necessary to further improve the diversified investment mechanism for R & D funds, increase fiscal funding support, expand the effectiveness of other policies such as tax exemptions and exemptions for R & D expenditures, and improve financial support systems such as direct financing and guidance funds., encourage local governments to continue to increase R & D investment. On the other hand, we must focus on precise support for key technologies and key areas, and continue to increase investment in basic research and achievement transformation. Efforts will be made to improve the efficiency of fund utilization. Source: Sinochem New Network