China has overtaken the United States as 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, driven largely by corporate investments in computers and electronics. This shift reflects Beijing's efforts to accelerate technological development in response to Washington's export restrictions on semiconductor chips.

The data highlights China's growing emphasis on innovation and technology as it seeks to reduce reliance on foreign technology amid ongoing geopolitical tensions.

Sources