but not least china R&D is financed in biggest part by governmentSpending alone on R&D does not show the whole picture on tech situation of a country.
There are so many variables. Types or natures of tech, cost efficiency of money spend, efficient educational institutions, and the priorities of every country's technologies are different. The situations keep changing. A small country with less spending is not necessary less developed than bigger and richer countries. Ask the Israel or Singapore.