China has overtaken the United States to become the world's top spender on research and development (R&D) by companies and universities in 2024. According to new data from Japan, this surge in R&D spending is largely driven by corporate investments in computers and electronics. This shift comes as Beijing intensifies efforts to accelerate technological development in response to Washington's export restrictions on chips.

The data highlights the growing emphasis China places on innovation within key technology sectors, positioning it ahead of the U.S. in global R&D expenditure rankings.

Sources