China becomes the second biggest investor on R&D in the world.

China has overtaken Japan to become the world's second biggest investor on industrial research and development (R&D), following only the United States, said a report by the United Nations on Nov 14th.

Chinese investment in R&D rose to 12.8 percent of the world's total in 2009, up from just 2.2 percent in 1993, according to the report by the UN World Intellectual Property Organisation (WIPO).

The United States held on to the top position in the global R&D rankings. But its share fell 3.4 percentage points to 33.4 percent.

Source:caijing