In 2023, R&D expenditure in China's high and medium-high R&D intensive industries was approximately USD 346,000 trillion PPP. The forecasted data for 2024 to 2028 shows a year-on-year increase, with 2024 to 2025 at 7.44%, 2025 to 2026 at 6.87%, 2026 to 2027 at 6.37%, and 2027 to 2028 at 5.92%. The compound annual growth rate (CAGR) over the forecasted period from 2024-2028 is estimated at 6.64%.

Future trends to watch for include:

Increasing global competitiveness driving further investments in R&D.
Strengthening policies boosting technological advancements in targeted sectors.
Emerging collaborations with international enterprises and academia.
Potential shifts in government priorities influencing sector-specific R&D spending.