A recent survey of 40 senior executives in China, across the aerospace and defense, automotive, consumer products, engineering and industrial products, and metal industries, and conglomerates, found that most plan to increase R&D spending. While only 65% of the companies spent 4% or more of revenues on R&D in the past two years, 93% plan to spend this amount over the next 24 months. Inefficiencies in R&D were identified by 48% of respondents as a concern over the next two years. Development of new products was considered one of the top priorities over the next 24 months by 53% of respondents.

Source: KPMG