China’s research and development (R&D) spending surged in 2024, exceeding 3.6 trillion yuan (approximately $500 billion), reflecting an 8.3% year-on-year increase, according to data from the National Bureau of Statistics (NBS). This milestone underscores China’s commitment to technological innovation and positions it as a global leader in R&D efforts.
R&D Growth and Economic Contributions
In 2024, R&D expenditure accounted for 2.68% of China’s GDP, a slight increase from the previous year’s 2.58%. This marks China’s highest R&D intensity yet, placing the nation 12th globally and above the EU average of 2.11%, while approaching the OECD average of 2.73%.
NBS statistician Zhang Qilong highlighted that favorable policies, diversified investment strategies, and stronger participation from businesses have fueled sustained growth in R&D spending.
A Focus on Basic Research
Basic research investment grew 10.5% year-on-year, reaching 249.7 billion yuan—6.91% of total R&D spending. This reflects China’s increasing focus on foundational research, which plays a pivotal role in advancing cutting-edge technologies and achieving breakthroughs in key scientific domains.
Major achievements in basic research include advancements in quantum technology, life sciences, materials science, and space science, supported by robust infrastructure and world-class scientific facilities.
Global Innovation Leader
China’s R&D spending remains the second largest globally, underscoring its significant role in shaping technological trends. The Central Economic Work Conference, held last December, reaffirmed the country’s commitment to strengthening basic research and pursuing breakthroughs in key and core technologies. Key strategies include:
- Improving financial services for innovation-driven enterprises.
- Encouraging private sector investment in R&D.
- Fostering a culture of innovation through supportive policies and infrastructure.
Driving Future Innovation
China’s R&D investments reflect a long-term vision to enhance global competitiveness and drive scientific progress. By emphasizing basic research and creating a dynamic environment for public-private collaboration, China continues to pave the way for breakthroughs in science and technology that have the potential to transform industries worldwide.
