China Invests $2.8 Billion Dollars In Natural Science Foundation Projects

(This article is courtesy of the Shanghai Daily News Paper)

China funds 18 bln yuan on science projects

THE National Natural Science Foundation of China (NSFC) has approved funding for 38,160 projects this year, with a total investment of more than 18 billion yuan (US$2.8 billion).

With a budget of 24.8 billion yuan for 2016, the NSFC received 177,551 applications as of August 16, it announced on Tuesday.

For programs exploring scientific frontiers, each has received an average 600,000 yuan investment. Those designated priority areas, such as quantum information technology, cosmic ray detection, and global environmental change, were each financed with 2.8 million yuan on average.

China has used its science fund to further develop basic science research and elevate the reputation of its academic papers, cutting-edge programs and research achievements.

During 2011 to 2015, the science fund financed nearly 200,000 programs, with around 88.8 billion yuan from state revenue and more than 1.7 billion yuan from other sources, according to NSFC figures.

To prevent misuse of funds, the foundation has issued regulations to ensure all the money is used appropriately.

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