Core Insights - In 2024, China's total R&D expenditure is projected to exceed 3.6 trillion yuan, reaching 36,326.8 billion yuan, representing an 8.9% increase from the previous year, indicating a stable growth trend [1] - China's R&D expenditure intensity (R&D expenditure as a percentage of GDP) is expected to be 2.69%, an increase of 0.11 percentage points from the previous year, maintaining a rapid upward trend [1] R&D Expenditure Breakdown - In 2024, the breakdown of R&D expenditure includes 2500.9 billion yuan for basic research, 4305.5 billion yuan for applied research, and 29,520.4 billion yuan for experimental development, with respective growth rates of 10.7%, 17.6%, and 7.6% [2] - Basic research funding has reached a historical high, accounting for 6.88% of total R&D expenditure, second only to the United States [2] Contribution by Sector - Enterprises account for over 75% of total R&D funding, contributing 77.1% to the overall growth, making them the primary driver of R&D expenditure in China [3] - R&D funding in high-tech manufacturing and equipment manufacturing sectors grew by 10.2% and 10.5%, respectively, outpacing the overall growth rate of large-scale enterprises [3] Fiscal Support and Regional Development - National fiscal science and technology expenditure for 2024 is set at 12,629.2 billion yuan, a 5.3% increase from the previous year, focusing on basic research and scientific research facilities [4] - R&D expenditure in eastern, central, western, and northeastern regions of China grew by 9.0%, 8.4%, 9.2%, and 8.6%, respectively, indicating effective regional collaborative development [4][6] Regional Highlights - The Beijing-Tianjin-Hebei and Yangtze River Delta regions reported R&D expenditures of 4866.8 billion yuan and 11,238.8 billion yuan, with growth rates of 9.2% and 10.5% [5] - Twelve provinces (or municipalities) have R&D expenditures exceeding 100 billion yuan, with six surpassing 200 billion yuan, maintaining the same level as the previous year [6] Future Directions - The focus will be on expanding R&D funding channels and enhancing tax reduction policies, alongside developing a comprehensive support system for technology finance [7]

Core Insights - The 2024 National Science and Technology Funding Statistics Bulletin indicates stable growth in R&D funding in China, with significant increases in funding intensity and breakthroughs in basic research [1][2]. Group 1: R&D Funding Growth - China's R&D funding has an average annual growth rate of 10.5% over the first four years of the 14th Five-Year Plan, exceeding planned targets and ranking among the top in major global economies [4]. - The R&D funding intensity (R&D funding as a percentage of GDP) for 2024 is projected to be 2.69%, placing China 12th globally and consistently above the EU level of 2.13% [8]. Group 2: Basic Research Investment - Basic research funding is expected to grow at a rate of 6.88% in 2024, which is 1.8 percentage points higher than the overall R&D funding growth rate, achieving the highest historical level and accounting for 6.88% of total R&D funding [10]. Group 3: Contribution from Enterprises - Enterprises contribute over 75% of the total social funding for R&D, maintaining this level for several years, and account for 77.1% of the growth in overall funding, making them the primary driver of R&D funding growth [13].

Group 1 - The total R&D expenditure in China is projected to reach 3.6 trillion yuan, ranking second globally [1] - Shenzhen's R&D investment accounts for 6.46% of its GDP, indicating a strong commitment to innovation [1] - China is transitioning from being a global manufacturing hub to becoming a global innovation center [1]

Core Insights - China's R&D investment is set to reach a new high in 2024, with an increase of nearly 50% compared to the end of the 13th Five-Year Plan, amounting to an additional 1.2 trillion yuan [1] R&D Investment Overview - The total R&D expenditure in China for 2024 is projected to grow significantly, reflecting a strong commitment to innovation and development [1] - The R&D intensity is expected to rise to 2.68%, approaching the average level of OECD countries, indicating a shift towards more competitive research capabilities [1]