On September 28, the “Top 500 Chinese Enterprises” development report demonstrated that in 2020, the average R&D intensity of the top 500 Chinese companies has increased for three consecutive years and bounced back to the highest level in history. In 2020, the top 500 Chinese companies invested a total of RMB 1075.4406 billion in research and development expenses, a significant year-on-year increase of 17.04 percent. Among them, Baidu, Huawei, and NetEase ranked the top three in R&D intensity. (Source)
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