GUANGZHOU -- Major Chinese companies continue to boost R&D spending, eclipsing their European counterparts to rank second following the U.S. in 2022, led by tech giants like Huawei Technologies.
Business trends
Chinese companies close R&D spending gap with U.S., led by Huawei
Beijing's support contributes to growth as China passes Europe
Huawei is allocating 10% to 20% of its sales to R&D amid U.S. sanctions. © Reuters
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