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China surpassed the United States for the first time as the top spender on research and development in 2024, reaching ¥97.1 trillion, a 13.1 % increase. The US spent ¥95.3 trillion, up 6.7 %, while Japan ranked third with ¥22.1 trillion, an 8.4 % rise.
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Summary by ByteBrief

SemiAnalysis: China has 24 GW of operational compute capacity and another 50 GW planned or under construction, compared to 56 GW operational in the US (Financial Times)
China Plays Critical Role in Global AI Supply Chain, Domestic AI Ecosystem

China Struggles to Recruit Foreign AI Researchers