China's technology market sees robust growth in January-April

China's technology market maintained strong growth momentum in the first four months of 2025, with the transaction value of technology contracts reaching 1.6 trillion yuan (about 222 billion U.S. dollars), up 13.3 percent year on year, according to the data released by the Ministry of Science and Technology on Thursday.

In the first four months of this year, a total of 228,000 technology contracts were registered nationwide, according to the data.

As a key component of the country's factor markets, the technology market has played a pivotal role in driving the integrated advancement of technological and industrial innovation.

In 2024, the total transaction value of technology contracts rose by 11.2 percent year on year to reach 6.8 trillion yuan, marking the eighth consecutive year of double-digit annual growth.

It also signaled the early achievement of the 5-trillion-yuan target set in the special plan for the technology factor market under the 14th Five-Year Plan (2021–2025).

Looking ahead, the Ministry of Industry and Information Technology said, greater efforts will be made to guide enterprises on the demand side to become the main body of technology absorption and transformation, encourage universities and research institutions on the supply side to pursue market-oriented research and development, and guide professional institutions on the service side to provide targeted supply and demand matchmaking services, so as to accelerate the construction of a prosperous technology market ecosystem.

"Efforts will be made to improve the foundational systems of the technology market, including the registration of technical rights and interests, value discovery, transaction standards, and intellectual property protection. Meanwhile, work will be done to develop a unified national platform for technology transactions and to accelerate the establishment of a standardized system of technology trading rules," said Lyu Xianzhi, director of the Torch High Technology Industry Development Center under the Ministry of Industry and Information Technology.

China's technology market sees robust growth in January-April

China's technology market sees robust growth in January-April

The multilateral system is "under attack" amid global turmoil, President of the 80th UN General Assembly Annalena Baerbock warned in her remarks on Wednesday.

In her briefing on the priorities for the resumed 80th Session of the General Assembly, the UNGA president noted that the current multilateral system does not collapse all in a sudden, but "crumbles piece by piece" in divisions, compromises, and lack of political commitment.

The president called all the UN member states to defend the UN Charter and international law and promote cross-regional cooperation.

She also urged to push forward the work of the UNGA on certain critical issues with a strong majority, rather than an absolute consensus among all member states. Such act is not a failure of multilateralism, but "an affirmation of it," she said.

The foundational principles of the institution should not be eroded by appeasement, she said, calling the member states to show courage, leadership, and responsibility at the UN's "critical make-or-break moment."

"The UN needs you. Your support, your leadership, your principle, stand, your cross-regional cooperation, if we are to preserve and modernize this institution, if we are to make it, rather than break it," she said.

UNGA President warns global multilateral system "under attack"