In 2023, government expenditure on R&D in China stood at around 122 billion USD PPP. Forecasted data indicates a steady growth in expenditure from 2024 to 2028, with an annual increase approximately between 6% and 7%. The compound annual growth rate (CAGR) over the five-year forecast period is anticipated to be near 6.7%. This persistent rise highlights China's commitment to bolstering its R&D capabilities.

Future trends to watch for include:

Emphasis on technological advancements in artificial intelligence and renewable energy.
Potential geopolitical factors influencing R&D spending, especially in strategic sectors.
The impact of economic policies designed to stimulate innovation and industrial digitization.