National Push for Tech Commercialization Gains Momentum
Chinese lawmakers are reviewing a comprehensive report outlining strategies to enhance the application of scientific breakthroughs, as the country enters the final year of its 14th Five-Year Plan (2021-2025). The State Council's submission to the National People's Congress Standing Committee reveals a 141.7% surge in national technology contract value since 2020, reaching 6.84 trillion yuan ($967 billion) in 2024.
Industry Transformation Through Innovation
High-tech manufacturing output has grown 42% since 2020, with artificial intelligence and biotechnology emerging as key economic drivers. Enterprises now account for 77% of national R&D spending and hold nearly three-quarters of domestic invention patents, signaling strong private-sector innovation leadership.
Institutional Framework Strengthened
The report highlights completed reforms in China's tech commercialization infrastructure, including enhanced legal frameworks and policy systems designed to accelerate research-to-production cycles. These developments come as strategic emerging industries expand their global market presence.
