In 2023, China's expenditure on Research and Development with government appropriation funds stood at an actual figure of approximately 3.44 hundred billion Yuans Renminbi. The forecast data from 2024 to 2028 show a consistent increase with values rising from 3.64 in 2024 to 4.43 in 2028. Year-on-year growth percentages are approximately 5.5% for each year. The compound annual growth rate (CAGR) for the 2024-2028 period is about 5.1%. This indicates a steady upward trend in investment, emphasizing China's commitment to enhancing its R&D capabilities.
Future trends to watch include targeted funding towards high-tech and innovation sectors, prioritization of sustainable technologies, and potential shifts driven by international competition or policy changes in other leading economies. These elements could impact the allocation and efficiency of R&D expenditure in the upcoming years.
