In a long anticipated development, China’s overall spending on R&D has topped that of the United States—at least by one widely used measure. In 2024, China spent $1.03 trillion on research whereas the U.S. spent $1.01 trillion when adjusted for purchasing power, according to the 31 March, 2026 edition of science and technology indicators compiled by the Organisation for Economic Co-operation and Development (OECD). The OECD data indicate that for at least a decade, China has increased overall research spending at nearly 10% annually, eclipsing the U.S. rate of increase. In 2024, for example, China boosted R&D spending by 9.7%, nearly triple the 3.4% increase in the United States.

OECD’s numbers come with some caveats. Its definition of R&D spending includes all governmental, business, and military research expenditures. In an effort to more accurately compare R&D spending, the group’s analysts calculate an adjustment called purchasing power parity, which takes into account how much money it takes for people in different nations to buy the same basket of goods and services. Salaries are generally lower in China than the U.S., for example, allowing Chinese labs to employ more technicians for a given sum of money.

Source https://www.science.org/content/article/china-now-tops-u-s-r-d-spending-one-key-measure

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