China plans to spend $55 billion (¥398.12 billion) on science and technology in 2025, up 10% from last year's $50 billion (¥361.9 billion). This makes tech the country's third-biggest expense, right behind defense spending and interest payments on debt. Last year, the government used 97.6% of the money it set aside for tech, showing they put almost all planned resources to work.
The money mainly supports projects under the Science and Technology Innovation 2030 plan, with big chunks going to computer chips, AI, and quantum computing research. The gradual increase aims to build on what's already working rather than trying to make sudden breakthroughs. China wants to become less dependent on other countries for tech as global competition heats up.
This funding plan reflects some budget limits caused by China's slowing economy but still keeps the country moving toward its long-term tech goals. Beyond direct research money, the government also boosted support for basic science projects and created special financing options for tech companies. Tax breaks and targeted money help form a complete approach to encourage home-grown innovation.
Though the funding boost shows China's commitment to advancing technology, how well officials manage projects and use resources will determine success as the country competes globally. Perhaps the most important goal for this funding will be helping Chinese companies develop advanced equipment to make cutting-edge computer chips domestically.
The money mainly supports projects under the Science and Technology Innovation 2030 plan, with big chunks going to computer chips, AI, and quantum computing research. The gradual increase aims to build on what's already working rather than trying to make sudden breakthroughs. China wants to become less dependent on other countries for tech as global competition heats up.
This funding plan reflects some budget limits caused by China's slowing economy but still keeps the country moving toward its long-term tech goals. Beyond direct research money, the government also boosted support for basic science projects and created special financing options for tech companies. Tax breaks and targeted money help form a complete approach to encourage home-grown innovation.
Though the funding boost shows China's commitment to advancing technology, how well officials manage projects and use resources will determine success as the country competes globally. Perhaps the most important goal for this funding will be helping Chinese companies develop advanced equipment to make cutting-edge computer chips domestically.
