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China is ramping up its investment in science and technology innovation across the country, with cities like Shenzhen in South China’s Guangdong Province announcing on Sunday plans to align with global and national innovation resources, offering up to 30 million yuan ($4.2 million) in support of international cooperation projects.
The city will continue to implement major science and technology initiatives, and financial support for “challenge-driven” projects will reach up to 30 million yuan, a representative said during a Sunday press conference held by the Information Office of Shenzhen Municipal Government.
As one of China’s leading cities in economic and technological development, Shenzhen has achieved remarkable results in its investment in research and development (R&D).
The city’s total R&D investment in 2024 amounted to 223.66 billion yuan, an 18.9 percent increase, sustaining double-digit growth for nine consecutive years, data from the National Bureau of Statistics (NBS) showed. Its R&D intensity stood at 6.46 percent, with enterprises contributing 93.3 percent of the total investment.
Fortune 500 companies like Apple, Intel, Amazon and Siemens have set up R&D centers in Shenzhen, while local firms have established over 100 R&D centers globally, the representative said.
Meanwhile, the Shenzhen-Hong Kong-Guangzhou sci-tech cluster has ranked second in the World Intellectual Property Organization’s Global Innovation Index for five years running.
The city of Yongzhou in Central China’s Hunan Province on Wednesday launched measures to develop a region with strong competitiveness in technological innovation. The city will support enterprises in establishing various innovation platforms, providing 1 million yuan in funding for newly recognized national key laboratories and 500,000 yuan for provincial-level platforms, data from the governmental website showed.
Shanghai – another key hub for China’s economy and technological innovation – made significant strides in the tech sector over the past year.
In 2024, Shanghai’s artificial intelligence industry surpassed 450 billion yuan, achieving a year-on-year growth rate over 7.8 percent and exceeding its target for the 14th Five-Year Plan (2021-25) ahead of schedule, Zhang Ying, head of the Shanghai Municipal Commission of Economy and Informatization, said on Saturday at the 2025 Global Developers Conference in Shanghai, local media outlet Shanghai Observer reported.
Recently, Southwest China’s Yunnan Province introduced 15 measures to boost entrepreneurship, investment and the high-quality development of science, technology and industry.
Top-tier research teams from outside the province that make significant progress in commercializing scientific research within Yunnan will be eligible for up to 30 million yuan in project funding, according to the measures, local media InKunming reported.
Government support for science and technology is crucial and equally important as the efforts of enterprises to boost their investment in innovation, Chen Jing, a vice president of the thinktank Technology and Strategy Research Institute, told the Global Times on Sunday. Chen said that although technological breakthroughs should be primarily driven by enterprises, government policies and funding are essential in addressing the short-term focus and lack of synergy often seen in businesses.
In recent years, China has made significant strides in research papers, patents, R&D investment, tech graduates, core technologies and the commercialization of scientific achievements, according to Chen.
He noted that R&D investment continues to rise, with China now leading globally in STEM graduates. “As core technologies progress, international assessments of China’s technological power have been revised.”
He said that the “challenge-driven” approach, targeting decisive solutions, is timely. “The Shenzhen government is poised to address these challenges, offering significant rewards and funding to resolve critical technological bottlenecks. Sometimes, all that industry needs is a final push, and government support can provide it,” Chen said.
In 2024, China’s total R&D spending reached 36.13 billion yuan, a year-on-year increase of 8.3 percent, data from the NBS showed. This investment continued to rank second globally, the Economic Daily reported.