According to the Organization for Cooperation and Development (OECD), China is now third in the world in research and development investment, behind the US and Japan. This rise is due to higher business development with multinational companies taking advantage of lower costs. Most of the research spending is in applied technologies, such as cell phones or auto technology.
These results are from 2001. The OECD is formed from 30 member countries, of which India is notably missing.
Source at Business Day
