🚀 This week, Chinese mainland lawmakers are diving into a fresh report on how to speed up the application of scientific and technological breakthroughs. Submitted by the State Council to the Standing Committee of the National People's Congress on Monday, it maps out a bold strategy for turning R&D into real-world results.
📈 Since the start of the 14th Five-Year Plan period (2021–2025), the value of tech contracts signed nationwide shot up from 2.83 trillion yuan (about $402 billion) in 2020 to 6.84 trillion yuan in 2024—a jump of 141.7 percent! That's proof that ideas are meeting the market in a big way.
🏭 Traditional industries are getting a glow-up, and strategic emerging sectors keep growing. In 2024, high-tech manufacturing saw value added rise by 42 percent compared to 2020. Frontier fields like AI and biotech are stepping up as fresh engines for economic growth.
💡 Integration is the name of the game: enterprises now cover over 77 percent of the nation's R&D spending and hold 73.7 percent of all valid domestic invention patents. More labs are linking arms with industry than ever before.
📜 The Chinese mainland has put much of the framework in place—laws and regulations are being refined, and a clear policy system is established. All this paves the way for an innovation-driven future in the final stretch of the 14th Five-Year Plan and beyond.
Reference(s):
China formulates plan for applying science and technology innovation
cgtn.com
