R&D fund bolstered by private sector

Editor's Note: This is the third in a series of special reports to mark achievements in various sectors during the 12th Five-Year Plan (2011-15). The fifth plenary session of the 18th Central Committee of the CPC will be held from Monday to Thursday. Discussion of the 13th Five-Year Plan (2016-20) is high on the agenda of the meeting.

China's research and development fund reached 1.34 trillion yuan ($211 billion) last year, with the private sector providing 76 percent of the total, according to Wan Gang, the science and technology minister.

"The past five years have seen a structural change in China's R&D investment. While government investment has increased steadily, private sector investment has risen sharply," Wan told a conference recently.