In 2023, China's business enterprise R&D expenditure in manufacturing stood at 2.1057 trillion Yuan Renminbi based on the previous growth trajectory. Forecasts indicate a steady increase from 2024 to 2028, with projected figures reaching 3.0993 trillion Yuan. This reflects notable year-on-year growth: 8.78% (2024-2025), 7.98% (2025-2026), 7.32% (2026-2027), and 6.74% (2027-2028). The projected compound annual growth rate (CAGR) for 2024-2028 is 7.48%.
Future trends to watch for include:
- Increased government support and policy measures promoting innovation.
- The impact of global technological advancements and digital transformation.
- Potential challenges from global trade tensions affecting investment flows.
