Core Insights - The overall performance of listed companies in China has shown continuous improvement, with a total revenue of 53.46 trillion yuan and a net profit of 4.70 trillion yuan for the first three quarters of 2025, reflecting year-on-year growth of 1.36% and 5.50% respectively [1][2] - The technology and innovation sectors, particularly in advanced manufacturing, have demonstrated significant growth, with many companies reporting revenue and profit increases exceeding 10% and 20% respectively [2] Financial Performance - A total of 5,446 listed companies have disclosed their Q3 2025 reports, with 4,183 companies reporting profits, indicating a profitability rate of nearly 80% [1] - In Q3 alone, revenue and net profit growth rates reached 3.82% and 11.45% year-on-year, with a positive trend observed quarter-on-quarter [1] Sector Performance - The technology sector, including the STAR Market, ChiNext, and Beijing Stock Exchange, has outperformed, with revenue and net profit growth rates exceeding 10% for ChiNext [1][2] - The electronics industry has surpassed the banking sector in total market capitalization, marking a significant shift in industry dynamics [1] Innovation and R&D Investment - Listed companies have increased their R&D spending to a total of 1.16 trillion yuan, representing a year-on-year growth of 3.88%, with a research intensity of 2.16% [2] - The STAR Market and ChiNext have particularly high R&D intensities of 11.22% and 4.54% respectively, indicating a strong focus on innovation [2] Shareholder Returns - As of the end of October, 1,033 companies have announced cash dividend plans, with 38 companies conducting multiple dividend distributions [2] - A total of 1,195 companies have released 1,525 share repurchase plans for 2025, with 899 completed, amounting to a total repurchase value of 92.3 billion yuan [2]

Core Insights - The overall performance of listed companies in China shows continuous improvement, with significant contributions from the technology and innovation sectors [1][2] - The third quarter of 2025 saw notable increases in revenue and net profit, indicating a positive trend in corporate earnings [1] Financial Performance - In the first three quarters of 2025, listed companies achieved a total revenue of 53.46 trillion yuan and a net profit of 4.70 trillion yuan, representing year-on-year growth of 1.36% and 5.50% respectively [1] - Approximately 4183 companies reported profits, with nearly 80% of companies being profitable; 2467 companies experienced positive net profit growth [1] - The third quarter alone saw revenue and net profit growth rates of 3.82% and 11.45% year-on-year, with a sequential upward trend [1] Sector Performance - The technology sector, particularly in the fields of storage chips, all-solid-state batteries, and new energy vehicles, demonstrated significant growth, with revenue and net profit increases exceeding 10% and 20% respectively [2] - The electronic industry surpassed the banking sector in total market capitalization, becoming the largest industry, while the telecommunications and computer sectors saw market value increases of over 900 billion yuan since the beginning of the year [1][2] Innovation and R&D Investment - Listed companies increased their R&D spending to a total of 1.16 trillion yuan in the first three quarters, marking a year-on-year growth of 3.88% and an R&D intensity of 2.16% [2] - The R&D intensity for the Sci-Tech Innovation Board and the Growth Enterprise Market reached 11.22% and 4.54% respectively, indicating a strong focus on innovation [2] Shareholder Returns - By the end of October, 1033 companies announced cash dividend plans, with 38 companies conducting multiple dividend distributions [2] - A total of 1195 companies issued 1525 share repurchase plans for 2025, with 899 completed, amounting to a total repurchase value of 923 billion yuan [2]

Core Insights - The 2024 China Innovation Index reached 174.2, reflecting a 5.3% increase from 2023, indicating a steady growth trend in the country's innovation environment [1] Group 1: Innovation Environment Improvement - The innovation environment index for 2024 is 186.0, up 4.9% from the previous year, with all five evaluation indicators showing growth [2] - The proportion of science and engineering graduates among the eligible population increased by 10.8%, continuing a three-year trend of double-digit growth [2] - In 2024, the number of science, engineering, agriculture, and medical graduates reached 3.145 million, an increase of 172,000 from the previous year, accounting for 50.7% of the eligible population [2] - The number of enterprises benefiting from tax deduction policies for R&D expenses reached 137,000, an increase of 14,000, representing an 11.1% growth [2] Group 2: Increased Innovation Investment - The innovation investment index for 2024 is 162.6, reflecting a 5.1% increase, with all four evaluation indicators showing growth [3] - Basic research funding reached 250.09 billion yuan, a 10.7% increase, marking a two-digit growth trend [3] - Enterprises contributed 77.1% to the growth of national R&D funding, solidifying their role as the main driver of R&D expenditure [3] - R&D expenditure for large industrial enterprises was 2,254.77 billion yuan, up 7.5% from the previous year [3] Group 3: Rapid Growth in Innovation Output - The innovation output index for 2024 is 215.8, the fastest-growing among the four fields, with all four evaluation indicators showing growth [4] - The number of invention patents granted reached 1.045 million, a 13.5% increase, while the total number of valid invention patents reached 4.682 million, up 16.6% [4] - High-value invention patents accounted for 42.2% of valid patents, an increase of 0.7 percentage points from the previous year [4] - The technology market saw 994,000 contracts with a total transaction value of 6.8 trillion yuan, reflecting a 5.1% and 11.2% increase, respectively [4] Group 4: Steady Improvement in Innovation Effectiveness - The innovation effectiveness index for 2024 is 132.4, up 1.9%, with five evaluation indicators showing mixed results [5] - Labor productivity increased to 173,898 yuan per person, a 4.9% rise, enhancing the internal driving force for economic growth [5] Group 5: New Economic Drivers - The value added by the "three new" economies reached 24.3 trillion yuan, a 6.7% increase, surpassing the GDP growth rate by 2.5 percentage points [6] - New product sales revenue for large industrial enterprises reached 35.5 trillion yuan, a 3.9% increase, accounting for 25.4% of total revenue [6]

创新成效稳步提升，新动能不断壮大。2024年，我国创新成效指数为132.4，比上年增长1.9%。该领域 的5个评价指标指数三升一平一降。技术进步和资源配置优化，有效带动生产效率提升。2024年我国全 员劳动生产率为173898元/人，比上年提高4.9%。同时，我国"三新"经济增加值为24.3万亿元，比上年增 长6.7%，高于同期国内生产总值(GDP)现价增速2.5个百分点。 国家统计局发布2024年中国创新指数测算结果显示，2024年中国创新指数达174.2，比2023年增长 5.3%，保持稳步增长态势。在4个分领域的18个评价指标指数中，每万名R&D(研究与试验发展)人员高 价值发明专利拥有量指数、理工类毕业生占适龄人口比重指数等2个指标指数保持较快增长，增速连续3 年超过10%。 创新投入继续增加，基础研究投入加大。2024年，我国创新投入指数为162.6，比上年增长5.1%，该领 域4个评价指标指数全部实现增长。同时，我国基础研究经费达2500.9亿元，比上年增长10.7%，延续两 位数以上较快增长势头。 创新产出较快增长，产出成果质量提升。2024年，我国创新产出指数为215.8，比上年增长8.1%， ...

Core Insights - The 2024 China Innovation Index reached 174.2, reflecting a 5.3% increase from 2023, indicating a steady growth trend in innovation [1] - The innovation environment continues to improve, with the innovation environment index at 186.0, up 4.9% from the previous year, and all five evaluation indicators showing growth [1] - Innovation input is on the rise, with the innovation input index at 162.6, a 5.1% increase year-on-year, and basic research funding reaching 250.09 billion yuan, up 10.7% [2] Innovation Output - The innovation output index for 2024 is 215.8, marking an 8.1% increase, the fastest growth among the four subfields, with all four evaluation indicators showing growth [2] - By the end of 2024, the number of valid invention patents in China reached 4.682 million, a 16.6% increase, with high-value invention patents totaling 1.978 million, accounting for 42.2% of valid patents, up 0.7 percentage points from the previous year [2] Innovation Effectiveness - The innovation effectiveness index is 132.4, reflecting a 1.9% increase, with five evaluation indicators showing mixed results [2] - Labor productivity in China reached 173,898 yuan per person, a 4.9% increase year-on-year, while the value added by the "three new" economy was 24.3 trillion yuan, growing 6.7%, surpassing the GDP growth rate by 2.5 percentage points [2] - The trends in the innovation index indicate a continuously improving innovation environment and steadily enhancing innovation effectiveness, laying a solid foundation for high-quality development [2]

央视网消息：据国家统计局网站消息，日前，国家统计局社科文司《中国创新指数研究》课题组发布了 2024年中国创新指数测算结果。从测算结果看，2024年中国创新指数达到174.2，比2023年增长5.3%， 保持稳步增长态势。在四个分领域的18个评价指标指数中，每万名R&D人员高价值发明专利拥有量指 数、理工类毕业生占适龄人口比重指数等2个指标指数保持较快增长，增速连续3年超过10%。中国创新 指数走势表明，我国创新环境持续改善，创新投入继续增加，创新产出较快增长，创新成效稳步提升， 科技强国根基不断夯实，为高质量发展提供坚实支撑。 基础研究投入保持较快增长。加大基础研究投入是提升原始创新能力的重要根基，2024年我国基础研究 经费达2500.9亿元，比上年增长10.7%，延续两位数以上较快增长势头，增速高于全社会R&D经费增速 1.8个百分点，占R&D经费比重达到6.88%，创历史最好水平。 一、创新环境持续改善，人才支撑得到加强 2024年，我国创新环境指数为186.0，比上年增长4.9%，该领域5个评价指标指数全部实现增长。 理工类人才培养规模持续壮大。评价指标中，理工类毕业生占适龄人口比重指数比上年增长1 ...

2024年中国创新指数稳步增长 ——国家统计局社科文司统计师林梅解读2024年中国创新指数 日前，国家统计局社科文司《中国创新指数研究》课题组发布了2024年中国创新指数测算结果。从测算 结果看，2024年中国创新指数达到174.2，比2023年增长5.3%[1]，保持稳步增长态势。在四个分领域的 18个评价指标指数中，每万名R&D人员高价值发明专利拥有量指数、理工类毕业生占适龄人口比重指 数等2个指标指数保持较快增长，增速连续3年超过10%。中国创新指数走势表明，我国创新环境持续改 善，创新投入继续增加，创新产出较快增长，创新成效稳步提升，科技强国根基不断夯实，为高质量发 展提供坚实支撑。 一、创新环境持续改善，人才支撑得到加强 2024年，我国创新环境指数为186.0，比上年增长4.9%，该领域5个评价指标指数全部实现增长。 基础研究投入保持较快增长。加大基础研究投入是提升原始创新能力的重要根基，2024年我国基础研究 经费达2500.9亿元，比上年增长10.7%，延续两位数以上较快增长势头，增速高于全社会R&D经费增速 1.8个百分点，占R&D经费比重达到6.88%，创历史最好水平。 企业科技创新主体地 ...

Group 1 - The World Intellectual Property Organization (WIPO) released the 2025 Global Top 100 Innovation Clusters ranking, with China having 24 clusters, maintaining the top position for three consecutive years [1][2] - The success is attributed to the country's emphasis on innovation, continuous growth in innovation investment, improved intellectual property protection, and enhanced innovation capabilities among various entities [1][2] - In 2024, China's total R&D expenditure is expected to exceed 3.6 trillion yuan, a year-on-year increase of 8.3%, ranking second globally, with an R&D intensity of 2.68%, surpassing the EU average [1][2] Group 2 - As of June 2025, China has 5.01 million valid invention patents, with 524,000 enterprises holding 3.73 million valid invention patents, highlighting the significant role of enterprises in innovation [2] - The Guangdong-Hong Kong-Macao Greater Bay Area, exemplified by the Shenzhen-Hong Kong-Guangzhou cluster, authorized 113,000 invention patents in 2024, accounting for 12.1% of the national total, and filed 19,000 PCT international patent applications, representing 27.5% of the national total [2] - The active innovation ecosystem in the Greater Bay Area attracts numerous high-tech companies and skilled talent, providing continuous momentum for regional innovation development [2][3]