China has overtaken the United States to become the world leader in research and development (R&D) spending by companies and universities, according to new data from Japan. The total R&D expenditure for 2024 reached $615 billion, with a significant portion driven by corporate investments in computers and electronics.

This shift reflects Beijing's efforts to accelerate technological development amid Washington's export restrictions on semiconductor chips. The data highlights China's growing emphasis on innovation and technology advancement as it seeks to counteract U.S. trade limitations.

The information was reported from Tokyo and includes insights from Reuters.

Sources