Local investments in research and development (R&D) accounted for 3.8 percent of Shenzhen's GDP last year, a record high for the city and a level comparable to that of a developed country, city economic data shows.

R&D investments and activities are viewed as key factors for defining and analyzing a country's international competitiveness. The Shenzhen figure is 0.15 percent higher than its 2011 figure, nearly double the national average for 2012 and higher than the provincial figure of 2.1 percent, Shenzhen's scientific and technological innovation commission has announced.

Proportions of R&D to total GDP in developed countries range from 2.5 to 4 percent, according to the Asia-Pacific Economic Cooperation.

Worldwide, Israel has the highest proportion of R&D investment in total GDP, at 4.4 percent, followed by Finland at 3.9 percent, South Korea at 3.7, Sweden at 3.4, Japan at 3.3, the United States at 2.8 and China at 1.8.

Beijing ranked first in China in R&D investment in 2011, at more than 5.8 percent of the city's GDP that year, followed by Shenzhen at 3.66 percent, Nanjing at 3.1 percent, Shanghai at 2.9 percent and Hangzhou at just less than 2.9 percent.

Shenzhen's increase in R&D investment resulted from the city's efforts last year to encourage public funds to invest in scientific and technological companies, especially in pillar and newly emerging industries, according to Shenzhen's scientific and technological innovation commission.

Investments in basic studies and development of key advanced technologies were also highlighted, commission members said.

(Source: Shenzhen Daily)