China overtakes US to lead global R&D spending, hitting $615bn

Corporate, university expenditures for 2024 include computers, electronics

China's jump in R&D spending was driven by corporate investment in computers and electronics. © Reuters

TOKYO -- China has surpassed the U.S. to become the world leader in R&D spending by companies and universities, new Japanese data shows, as Beijing works to counter Washington's export restrictions on chips by accelerating development.

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