Chinese lawmakers are reviewing a game-changing plan from the State Council to turn scientific breakthroughs into real-world applications. Since the start of the 14th Five-Year Plan (2021-2025), China has seen a huge jump in tech innovation getting from labs to markets! 🚀
Key numbers: tech contracts soared from 2.83 trillion yuan in 2020 to 6.84 trillion yuan in 2024—a 141.7% leap. This boom is upgrading traditional industries and powering strategic emerging sectors.
High-tech manufacturing is thriving: in 2024, companies above a designated scale saw value added hit 42% more than in 2020. Plus, frontier fields like artificial intelligence and biotechnology are emerging as new engines of growth.
Enterprises are leading the charge, contributing over 77% of China's total R&D spending and holding 73.7% of all valid domestic invention patents. That's what we call turning ideas into impact! 💡
The report highlights that the institutional framework for applying sci-tech achievements is largely in place. Laws and regulations are steadily improving, and a solid policy system for promoting transformation is taking shape.
For young tech enthusiasts and startup founders in South and Southeast Asia, this trend is something to watch. Faster AI-driven apps, smarter biotech solutions, and more collaborative R&D projects could soon change how we code, create, and care for communities.
Stay tuned as China rolls out this innovation plan—it's set to reshape industries and inspire the next wave of tech breakthroughs across the region! 🌏✨
Reference(s):
China formulates plan for applying science and technology innovation
cgtn.com
