ITIF-创新战争：中国在企业研发方面如何赶超美国（英）-2023.7-52页_520kb

Key Findings of the Report: China is rapidly catching up to the United States in corporate R&D spending, particularly in advanced traded sectors. By 2021, Chinese firms had reduced the R&D spending gap and are projected to surpass the US in several sectors, including software and pharmaceutical services, by 2034, driven by government support and efficient use of lower R&D wages.

R&D Spending Trends:

• U.S. firms' R&D spending in advanced sectors (e.g., aerospace, pharmaceuticals) declined or remained stagnant in many areas, while Chinese firms increased investments, leading to a narrower gap in size-adjusted and wage-adjusted spending.
• Projections show China could match U.S. R&D levels by 2049 overall, with software-specific gains expected by 2034.
• Despite wage differences aligning spending more closely, China's rapid growth threatens U.S. competitiveness in global markets.

Policy Recommendations: To maintain innovation leadership, the U.S. should double the Alternative Simplified Credit rate to 28% and restore full expensing of R&D expenditures. These measures, along with enhanced state-level incentives, will encourage continued private investment and counter China's gains.

Implications: The U.S. risks losing market shares and global innovation dominance if the trend continues. Addressing this requires timely policy action to foster R&D competitiveness and protect national economic interests.