China has overtaken the United States to become the global 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 U.S. export restrictions on semiconductor chips. The data highlights the strategic focus of Chinese corporations and academic institutions in advancing their R&D capabilities.

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

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