Japan and China have decided to increase funding for scientific research in order to compete in the global race for new scientific inventions. On March 22, the Japan Science Council approved a budget plan of $213 billion for the next five fiscal years starting from April 2006.
Of this amount, $34.12 billion is allocated to enhance scientific research and compete with other Asian countries, including China, as well as to stimulate scientific research among the general population.
The Chinese Academy of Sciences will focus its efforts on 40 major research areas over the next 15 years, aiming to help China become one of the leading nations in advanced science at an early stage.
According to this plan, the sectors prioritized for research funding include the Internet, new drug development, biofuel development, nanotechnology, clean energy, CO2 capture technology, and sustainable agriculture.
To achieve these goals, the Academy will increase its investment by 70% compared to the five-year plan from before, and from 2011 to 2020, funding for scientific research is expected to grow by 12% annually. Specifically, in 2020, the budget for research will reach $112 billion. Thus, the research investment ratio is projected to rise from the current 1.3% of GDP to 2.5%.
