China's expenditure on R&D is the world's second highest at 1.7 trillion Yuan. The reputed Chinese business journal 'Caixin' reported that the Department of Management and Economics of Dalian University of Technology published the China R&D Report (2018) recently. The report disclosed that the Chinese government's R&D expenditure accounts for 20% of total funding. Chinese companies R&D expenditure accounts for 78% of the total funding  and Huawei's R&D expenditure exceeds all overseas listed companies in China. In 2016, Huawei's total R&D expenditure was 82.568 billion Yuan accounting for 7% of the R&D expenditure of Chinese companies.  About 80% of China's R&D institutions are funded by the central government.