In 2023, China's government expenditure on R&D stood significantly lower than the forecast at $114.19 billion USD (PPP, Constant) for 2024. From 2024 to 2028, the government expenditure on R&D is expected to grow annually, with values consistently increasing from $114.19 billion in 2024 to $139.19 billion in 2028. This represents an annual average growth rate (CAGR) of approximately 5.08% over the forecasted period.

Expected future trends to watch for include:

The impact of government policy shifts on R&D funding and allocation.
The role of emerging technologies and their contribution to the nation's innovation landscape.
International collaboration dynamics affecting R&D growth in China.