China has significantly strengthened its position on the global R&D stage with investments in science and technology under the 14th Five-Year Plan. According to information provided by Yin Hejun, Minister of Science and Technology, at a press conference in Beijing, China’s total R&D expenditure in 2024 exceeded $507 billion.

China Reaches Peak in R&D Investments

This expenditure represents a 48 percent increase compared to 2020. This increase in R&D investment has brought China to the forefront not only financially but also in terms of the number of researchers and publication performance. The country’s R&D intensity reached 2.68 percent, surpassing the European Union average. China also has the world’s largest R&D personnel.

Significant advances have been made in strategic areas such as quantum technologies, life sciences, materials science, and space exploration. China maintained its global leadership in international scientific publications for five consecutive years and ranked first in international patent applications.

According to 2024 data, 524 companies from mainland China were among the world’s top 2,000 industrial R&D investors. These companies represent 26.2 percent of total R&D investment. The number of high-tech companies exceeded 500,000, an 83 percent increase compared to 2020. This development demonstrates the rapid and steady growth of the country’s corporate innovation capacity.

Chinese researchers contributed to approximately one-third of globally high-impact papers. Among the most cited researchers in 2024, 1,405 were from China. This number represents a 50 percent increase compared to 2021 and accounts for one-fifth of the global total. China maintained its second-place ranking in this field for four consecutive years.

Support for basic research also increased significantly during this period. Spending in this field reached $35 billion in 2024. This means an increase of over 70 percent compared to 2020.