The forecast for government expenditure on R&D in China indicates steady growth from 2024 through 2028. In 2023, the expenditure stood at approximately USD 447.94 million in constant PPP terms. With forecasted values reaching USD 578.94 million by 2028, this represents a compound annual growth rate (CAGR) of approximately 6.49% over five years. The year-on-year percentage change indicates consistent increases of around 5% annually.
Future trends to watch for include China's focus on technological innovation and self-sufficiency, particularly in key areas such as AI, green technology, and advanced manufacturing. This focus could lead to significant investments beyond current forecasts.
