R&D climate best in China, says study

China has become the most popular destination for research and development activities by overseas companies thanks to the presence of a high-growth market and key manufacturing sites, a new survey said.

The survey, conducted by Strategy&, a unit of global consultancy major PricewaterhouseCoopers LLP, said that total R&D investment in China has risen to $39.4 billion till date, a 3,285 percent growth from the $1.2 billion a decade ago.

The 2015 Global Innovation 1,000 Study, released on Monday, was the 11th consecutive report published by the firm.