Singapore spends 1.9% of its GDP on research and development.
The Lion City spends almost 2% on research and development in 2020 compared to Hong Kong, which leverages China’s fast technological growth, a CBRE report showed.
This graph from CBRE revealed that Singapore’s R&D expenditure comes from 1.9% of its GDP in 2020 whilst Hong Kong invested 1% of its GDP for R&D.
In the coming years, CBRE said it expects closer collaboration between Hong Kong and the mainland for R&D efforts.
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