China Boosts Science and Technology Spending by 10% to $62B for 2026

The Chinese government has announced a 10% increase in science and technology fiscal expenditure for 2026, bringing the total to 426.42 billion yuan ($62 billion). The move represents the fastest-growing budget category and centers on a 16.3% increase in "basic research" funding. Officials noted that the strategy is designed to achieve "technological self-reliance" in core sectors like integrated circuits and foundational software amid intensifying global competition.