China Spending on Research & Development

China to beat Japan in R&D spend
China will overtake Japan to become the world's second biggest spender on research and development (R&D) in 2006, according to the latest forecast.

China is predicted to spend around $136bn (£68.7bn), on R&D in 2006, the Organisation for Economic Cooperation and Development (OECD) said.

This is ahead of Japan's forecast spend of $130bn.

The United States will remain the world's leading R&D spender, predicted to invest $330bn.

The EU-15, which includes the UK, France and Germany, will spend just $230bn, the organisation predicts.