In 2023, China's Gross Domestic Expenditure on R&D stood at approximately $833 billion USD in PPP. The forecast from 2024 to 2028 indicates a steady increase, with year-on-year growth rates averaging around 8.8%. The compound annual growth rate (CAGR) over these five years is expected to be around 7.8%, suggesting a strong upward trend in R&D investment.
Future trends to watch for:
- China's strategic shift towards high-tech industries and innovation, potentially boosting R&D expenditure.
- Emerging industries such as AI, biotechnology, and green technology may drive further increases.
- Government policies and incentives could continue to significantly influence R&D spending patterns.
