A new study has found that firms with CEOs who turned 18 during the Cultural Revolution spend less on R&D, generate fewer patents, and receive fewer citations to these patents.

Fact of the Week: Four and a Half Decades Later, the Cultural Revolution is Still Harming China’s Economy

Fact of the Week: Four and a Half Decades Later, the Cultural Revolution is Still Harming China's Economy

Researchers estimate that Chinese companies with a CEO who has less than a college degree invest 1.6 percent less of their assets into R&D and file 28 percent fewer patent applications.

Fact of the Week: Chinese Firms Led By a CEO Without a College Degree File 28 Percent Fewer Patent Applications

China’s labor productivity grew by a world-best 12 percent from 2000 to 2011, writes John Wu in Innovation Files.

Innovation Fact of the Week: China Led World in Labor Productivity Growth from 2000-2011

Since 2015, the number of Chinese students enrolling in U.S. PhD programs has decreased by about 3.7 percent, while the probability a Chinese student will enroll in a PhD program in another English-speaking country, such as the UK, Australia, or Canada, has increased by 2.1 percent.

Fact of the Week: Tensions Have Led to a 3.7 Percent Decline in the Probability of Chinese Students Enrolling in a US PhD Program

In 2023, the United States invested about $175 billion in research conducted at government institutions and universities. That same year, the EU invested about $180 billion, and China about $200 billion.

Fact of the Week: China and the EU Invest More in Research at Government Institutions and Universities Than the US

Recent years have seen China increase its spending on basic and applied research, which is likely to drive its innovation going forward and could be a large factor behind an eventual Chinese leadership role in global innovation.

Fact of the Week: Chinese R&D Spending Rose More Than 10 Percent in 2019

A study finds that over 99 percent of a sample of 5,260 listed Chinese firms received government subsidies totaling €35.3 billion in 2022, double the amount from 2015.

Fact of the Week: More Than 99 Percent of Listed Firms in China Receive Direct Subsidies From the Chinese Government

The United Nations estimates that India’s population will reach 1.429 billion at the end of 2023, compared to China’s estimated population of 1.426 billion.

Fact of the Week: India’s Population Is Set To Overtake China’s This Month

China ranked 11th overall in the World Intellectual Property Organization’s 2022 Global Innovation Index, up 23 spots from ten years ago.

Fact of the Week: China’s Youth Unemployment Rate Reaches Its Highest Level on Record in April

Related

Fact of the Week: Four and a Half Decades Later, the Cultural Revolution is Still Harming China’s Economy

Fact of the Week: Chinese Firms Led By a CEO Without a College Degree File 28 Percent Fewer Patent Applications

Innovation Fact of the Week: China Led World in Labor Productivity Growth from 2000-2011