China ranks 21st globally in technological innovation and research capability, according to a report released by the Chinese Academy of Science and Technology for Development (CASTED) on Feb 24.

The report, the first of its kind in China, surveyed the innovation capacity in 40 countries with an edge in technology research.

It used statistics from the World Bank, the Organization for Economic Cooperation and Development, the National Bureau of Statistics and other organizations worldwide.

The United States topped the chart with a rating of 100 on the innovation index. China had a score of 57.9.

Switzerland, South Korea and Japan ranked second to fourth.

The survey included innovation indices such as resources, performance and environment, creation and corporate innovation.

China ranked top in the world in both R&D staff numbers and high-tech product exports. It was in fourth place in total R&D spending and among the top three countries in annual invention patents granted.

The next five years are crucial to sharpening China's edge in innovation, said Wang Yuan, CASTED executive vice president.

Investment in research is expected to account for about 2.5 percent of gross domestic product in 2020, according to national development plans.

Source:China Daily.com