China’s tech contracts value exceeds 2 trillion yuan for the first time

The total volume of China’s contracted technology transactions exceeded 2 trillion yuan for the first time, hitting a record 2. 23984 trillion yuan in 2019, up 26.6 percent over the previous year, according to the data released by the Ministry of Science and Technology.

The total volume of China’s contracted technology transactions exceeded 2 trillion yuan for the first time, hitting a record 2. 23984 trillion yuan in 2019, up 26.6 percent over the previous year, according to the data released by the Ministry of Science and Technology.

This indicates that an average of more than six-billion-valued technology contracts was signed per day in China last year. The figure was exceeding one trillion in 2016. In 1984, when technology contract registration scheme just began, the figure was only 700 million, which means more than 3000 times’ growth in 35 years.

According to the statistics, Beijing has completed the most contracted technology transactions. Besides Beijing, provinces including Guangdong, Jiangsu, Shanghai, Shaanxi, Hubei, Sichuan, and Shandong, all have hundreds of billions’ transaction value.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/chinas-tech-contracts-value-exceeds-2-trillion-yuan-for-the-first-time/.

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