In 2023, China's business enterprise R&D expenditure in the manufacturing sector was significantly robust. Forecasted data shows a year-on-year increase of 8.67% to 548.06 billion in 2024. The trend continues with subsequent years showing a consistent growth: 8.68% to 595.62 billion in 2025, 7.91% to 642.72 billion in 2026, 7.24% to 689.34 billion in 2027, and 6.70% to 735.49 billion in 2028. The compound annual growth rate (CAGR) for this five-year period is expected to be 7.64%.
Future trends to watch for include:
- Shifts in global supply chains which could affect R&D focus and expenditure.
- Government policy changes impacting tax incentives for R&D investment.
- Technological advancements, especially in AI and green technologies.
- Global economic conditions influencing R&D budget allocations.
