The business enterprise R&D expenditure in China's machinery and equipment manufacturing sector was approximately 65.5 billion USD in 2023. From 2024 to 2028, projections indicate growth from 69.7 to 92.95 billion USD, representing a strong upward trend. Year-on-year growth is expected to be: 8.47% from 2024-2025, 7.73% from 2025-2026, 7.09% from 2026-2027, and 6.56% from 2027-2028. The five-year CAGR is projected at around 7%.
Future trends to watch for include the impact of emerging technologies, government policies supporting innovation, and global economic conditions affecting the machinery and equipment sector, potentially influencing R&D spending patterns.
