Resources for innovation reached 3.63 trillion yuans in 2024, representing 2.69% of Chinese GDP
China has invested at 3.63 trillion Yuans in research and development during 2024. The National Department of Chinese statistics data on Monday (29.Set.2024), showing a growth of 8.9% compared to the previous year, which maintains a stable expansion trend in resources for innovation in the country.
The intensity of investment, measured by the proportion between research and GDP expenses, reached 2.69% in 2024, representing an increase of 0.11 percentage points compared to 2023. Growth exceeds the annual average of 0.03 percentage points recorded since the beginning of the 14th five -year plan.
Basic research investments totaled 250.09 billion yuans by 2024, with an increase of 10.7% over the previous year. China’s total volume of investments in this category is the 2nd largest in the world, behind the United States.
Resources for applied research reached 430.55 billion yuans, representing an increase of 17.6%. Experimental development received 2.95 trillion yuans, with growth of 7.6% compared to 2023.
Investments represent 6.88% of the total resources in developing research, the largest percentage ever recorded in the country’s history.
The companies were the largest destination of investments, having received about 2.82 trillion yuans last year. Government research institutions obtained 423.16 billion yuans, while higher education institutions were the destination of 306.55 billion yuans.
Investments have covered different sectors and research areas throughout the Chinese territory, from fundamental studies to practical applications and experimental development.
