Significant increase in science funding in China

Significant increase in science (including basic science) funding in China announced in the draft budget today: http://news.sciencemag.org/scienceinsider/2012/03/another-bumper-year-for-chinese-.html "Another year, another chance for scientists here to pop the champagne corks. In a draft budget released today at the opening session of the annual National People's Congress, China has earmarked 32.45 billion yuan ($5.14 billion) for basic research in 2012—up 26% from last year's appropriation.
Overall, central government spending on science and technology is slated to rise 12.4%, to 228.54 billion yuan ($36.23 billion). Scientists will also benefit from a 24% jump in funding for Project 985 and Project 211, which funnel money to elite universities.
In a 2-hour speech at the Congress, comparable to the U.S. State of the Union address, Premier Wen Jiabao dwelled primarily on China's economic health. Many economists expect growth to slow in China this year, and the central government has set humbler goals. Wen announced that the target for GDP growth in 2012 would be lowered from 8% to 7.5%. Chinese scientists are expected to do their part to fan the embers. Echoing a theme of last year's speech, Wen pledged to "more closely integrate science and technology with the economy." "

If you are wondering where Canada stands, it ranks 9th overall behind US, China, Japan, Germany, South Korea, France, UK and India: http://en.wikipedia.org/wiki/List_of_countries_by_research_and_development_spending