Over the past five years, China's science and tech sector has achieved unprecedented growth, driven by rising R&D investment and strategic innovation policies. At a recent press conference, China's Minister of Science and Technology, Yin Hejun, highlighted key milestones during the 14th Five-Year Plan (2021-25).
Record R&D Investment
In 2024, total social R&D expenditure surpassed 3.6 trillion yuan (about $506 billion), marking a 48 percent increase since 2020. With an R&D intensity of 2.68 percent, the Chinese mainland now stands above the EU average and retains the world's largest R&D workforce.
Basic Research on the Rise
Funding for fundamental research jumped over 70 percent to 249.7 billion yuan (around $35.7 billion). High-quality scientific publications and international patent filings have led global rankings for five years running, underscoring deeper investment in foundational science.
Strengthening Strategic Capabilities
The rollout of new national laboratories is progressing steadily, bolstering research capacity across top universities and leading tech enterprises. These efforts are paving the way for breakthroughs in fields from AI to renewable energy.
Thriving Regional Innovation Hubs
Beijing, Shanghai, and the Guangdong-Hong Kong-Macao Greater Bay Area continue to evolve as international science and innovation centers. The Shenzhen-Hong Kong-Guangzhou cluster holds the top spot among the world's 100 largest innovation districts.
Global Innovation Leap
China's overall ranking in global innovation rose from 14th in 2020 to 10th in 2024. The push for high-level self-reliance and technology strength signals a bold vision: to become a leading innovation powerhouse by the end of the 14th Five-Year Plan.
Reference(s):
Science and tech sector scales new heights during 14th FYP period
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