Core Insights - China's technology sector is experiencing a significant emergence driven by R&D investment, talent cultivation, and industrial policies [22] - Major technological achievements have led global investors to reassess China's technological competitiveness [2][3] - The A-share and Hong Kong stock markets have outperformed most global asset classes since 2025, primarily due to the robust performance of the technology sector [1] R&D Investment - From 2020 to 2024, China's total R&D expenditure increased by nearly 50% compared to the end of the 13th Five-Year Plan, reaching an intensity of 2.68%, surpassing the EU average and approaching OECD levels [24] - The number of effective invention patents in China grew by 1.12 times, with the number of patents granted in 2024 expected to exceed 10 million for the first time [20] Talent Development - China has the largest total human resources and R&D personnel globally, with over 5 million graduates in STEM fields annually [26] - A significant number of top AI talents worldwide are of Chinese descent, indicating a strong talent pool in advanced technology sectors [26] Policy Support - The "14th Five-Year Plan" elevates the goal of becoming a technology powerhouse to a "new type of national system," focusing on both basic research and the establishment of major innovation platforms [28] - The government is actively supporting emerging industries, including AI and brain-computer interfaces, to foster innovation [28] Technological Achievements - China has made remarkable advancements in various fields, including 5G technology, high-speed rail, and autonomous vehicles, which have transformed both domestic and international landscapes [5][11] - Significant projects such as the C919 commercial aircraft, the Tiangong space station, and the Chang'e 6 lunar mission highlight China's growing capabilities in aerospace and other high-tech industries [7][9] Future Prospects - Looking ahead to the 15th Five-Year Plan, there are expectations for continued advancements in AI applications, humanoid robots, manned lunar missions, and new energy alternatives [28] - The global technology competition landscape has shifted, with China transitioning from a follower to a competitor and leader in several key areas [22][30]

Economic Growth - The domestic GDP reached 134.9 trillion yuan, growing by 5%, maintaining a leading growth rate among major global economies, contributing approximately 30% to global economic growth [2][4] - Urban employment increased by 12.56 million, with an average urban survey unemployment rate of 5.1%, and consumer prices rose by 0.2% [2][4] Trade and Foreign Investment - International trade has seen a historical high, with a steady increase in international market share, and foreign exchange reserves exceeding 3.2 trillion USD [4][8] - All restrictions on foreign investment in the manufacturing sector have been lifted, and the Belt and Road Initiative continues to expand and upgrade trade and investment cooperation [8] Innovation and Technology - High-tech manufacturing and equipment manufacturing value-added increased by 8.9% and 7.7% respectively, with new energy vehicle production surpassing 13 million units [7] - Significant advancements in innovation capabilities were noted in fields such as integrated circuits, artificial intelligence, and quantum technology, with a 11.2% increase in technology contract transaction volume [7][8] Social Welfare and Environmental Quality - The per capita disposable income of residents increased by 5.1%, with solid progress in poverty alleviation and enhanced social security measures in education, healthcare, and social assistance [4][8] - Environmental quality improved, with a 2.7% decrease in major pollutants, and the proportion of days with good air quality rising to 87.2% [8]