Forecast: Expenditure on Research and Development in China

Based on the forecasted expenditure on Research and Development (R&D) in China, the data suggests a continuous upward trend. In 2023, the expenditure stood at 35.35 hundred billion yuan Renminbi. The forecast indicates that by 2024, this will increase to 38.17 hundred billion yuan, representing an 8% year-on-year growth. For 2025, the growth continues at approximately 9%, reaching 41.51 hundred billion yuan. The trend sustains through to 2026 with an 8% increase to 44.83 hundred billion yuan, and a similar 7% growth is expected in 2027, reaching 48.11. By 2028, the R&D expenditure is forecasted to hit 51.36 hundred billion yuan, experiencing a 7% yearly growth. The compound annual growth rate (CAGR) over these five years is about 8%.

Future trends to watch for:

  • Increased government support and funding for R&D initiatives.
  • Growth in high-tech industries and innovation-driven sectors.
  • China's strategic focus on becoming a global leader in technology and innovation.
  • Potential impact of geopolitical factors on international R&D collaboration.