Hangzhou has maintained fast growth of R&D investment recently. In 2021, Hangzhou ranked the first in Zhejiang Province in term of total amount and intensity of R&D investment (the ratio of R&D outlay to regional GDP).
The data show that the city’s R&D outlay was 66.7 billion yuan last year, accounting for 30.91% of the total R&D outlay in Zhejiang, up 15.2% year on year. In addition, R&D input was 3.68%, increased by 0.11% year on year, 0.74% higher than the provincial average. As for the distribution of active entities, the expenditure of the research institutions of enterprises, colleges and governments was 52.64 billion yuan, 7.62 billion yuan and 6.4 billion yuan respectively, indicating Hangzhou enterprises’ generosity in R&D investment.
Hangzhou’s leading position in the amount and intensity of R&D investment owes to the policy support for fostering innovative entities, as well as the introduction and cultivation of scientific research platforms.