China to spend $55 billion on R&D in 2025 — Semiconductor, AI and quantum computing fields to benefit
According to China’sMinistry of Finance, the 2025 central budget will allocate ¥398.12 billion yuan ($55 billion) for science and technology, a 10% increase from 2024. This allocation is the third-largest item in the budget, surpassed only by national defense and debt interest payments. The increase in spending on science and technology by 10%, or $5 billion, emphasizes that China wants to accelerate its national R&D this year, which will speed up its plans for self-reliance in sectors such as semiconductors....