The R&D spending for enterprises under financial report monitoring in Henan continued to grow in the first three quarters, totaling 51.53 billion yuan, according to the Department of Finance of Henan Province on October 29, reflecting a sustained upward trend over the past three years. The R&D spending intensity, measured as R&D expenditure relative to total revenue, currently stands at 1.6%.
The top five industries by R&D spending - machinery, metallurgy, chemicals, coal, and building materials - have a combined investment of 36.9 billion yuan, accounting for 71.6% of Henan's total R&D spending, with an R&D intensity of 2.5%. Additionally, the industries with the largest increases in R&D spending include machinery, postal and telecommunications, social services, petroleum and petrochemicals, as well as agriculture, forestry, animal husbandry, and fisheries.Their total investment reached 20 billion yuan, marking a year-on-year growth of 14.5%. The R&D spending intensity in these industries stands at 2.5%, an increase of 0.3 percentage points from the previous year.
The top five enterprises in terms of R&D spending are China Pingmei Shenma Group, Henan Energy Group, Zhengzhou Yutong Group, Zhengzhou Coal Mining Machinery Group, and AVIC Jonhon Optronic Technology Company. Their total investment amounts to 7.47 billion yuan, accounting for 14.5% of Henan's total R&D spending, with an R&D spending intensity of 2.6%. In addition, the top five enterprises with the largest increasesin R&D spending are Chery Automobile Henan Co., Ltd., China Mobile Group Henan Co., Ltd., Weihua Group Co., Ltd., Luoyang Guohong International Trade Co., Ltd., and Henan Yirui New Material Technology Co., Ltd., with a total investment of 3.06 billion yuan, an increase of 2.12 billion yuan year-on-year. Furthermore, the R&D spending intensity for these enterprises stands at 2.8%, reflecting a year-on-year increase of 1.7 percentage points. (Chinese source: Henan Daily Reporter: Liang Qianwen Translator: Zhang Yahan Intern: Qin Jingzhu Proofreader: Jiao Dan and Zhao Hanqing)
