China's R&D expenditure reached 3.3 trillion yuan ($458.5 billion) in 2023, with a 9.3% increase in basic research spending.
China's R&D expenditure surpassed 3.3 trillion yuan ($458.5 billion) in 2023, an 8.1% year-on-year increase, according to Minister of Science and Technology Yin Hejun. The spending on basic research reached 221.2 billion yuan, a 9.3% year-on-year increase. China aims to become self-reliant in various technology sectors, including AI and chipmaking, by enhancing its capacity for innovation and cultivating top scientists and innovation teams.
March 05, 2024
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