The National Development and Reform Commission said China’s emerging pillar industries generated nearly 6 tln yuan in output last year as R&D spending accelerates and new technologies and products scale up. In the first three quarters, integrated circuit output reached 442.8 bln units, up 23.3% YoY, and outbound technology licensing for innovative drugs totaled about $130 bln, close to last year’s full-year level. The NDRC projects output could double to over 10 tln yuan by the end of the 15th F

The National Development and Reform Commission said China’s emerging pillar industries generated nearly 6 tln yuan in output last year as R&D spending accelerates and new technologies and products scale up. In the first three quarters, integrated circuit output reached 442.8 bln units, up 23.3% YoY, and outbound technology licensing for innovative drugs totaled about $130 bln, close to last year’s full-year level. The NDRC projects output could double to over 10 tln yuan by the end of the 15th Five-Year Plan, becoming a key support for higher-quality economic growth.