China's top 1,000 private enterprises in research and development (R and D) investment reported steady growth in innovation spending in 2025, according to a report released by the All-China Federation of Industry and Commerce on Wednesday.
The report, released at a conference on the private economy held in east China's Hangzhou City, showed that the total R and D expenditure of these leading private firms reached 1.59 trillion yuan (about 236.94 billion U.S. dollars) in 2025, up 10.72 percent year on year and accounting for 40.40 percent of the country's total.
In 2025, the companies employed 1.9586 million R and D personnel, while expenditure per employee rose to 809,800 yuan (about 120,675 U.S. dollars), up 4.5 percent year on year.
"In terms of industries, the top three by total R and D spending are the manufacture of computers, communication equipment and other electronic equipment, the internet and related services industry, and the automobile manufacturing industry. R and D investment by enterprises in key regions -- such as Beijing-Tianjin-Hebei region and the Yangtze River Delta -- has steadily increased, demonstrating a significant regional driving effect," said An Lijia, Vice Chairman of the All-China Federation of Industry and Commerce.
The report also highlighted that the companies are accelerating the transformation of technological results into real productive forces, further underscoring the stronger synergy between technology and industry.
"In terms of commercialization, 246 of these companies signed a total of 30,400 technology market contracts, with a transaction value of 69.558 billion yuan (about 10.4 billion U.S. dollars). They also reached 3,362 contracts for the external transfer or licensing of patents, totaling 2.221 billion yuan (about 330 million U.S. dollars) in value. A total of 446,100 valid patents were successfully commercialized," said An.
In 2025, these companies also applied for a combined total of 284,300 valid domestic patents, including 102,100 invention patents.
China's top private firms in R and D investment see steady rise in innovation spending
Norwegian Ambassador to China Vebjorn Dysvik said Wednesday that the 2026 China International Fair for Trade in Services (CIFTIS) offers a strong platform for developing new partnerships, as a record number of Norwegian companies attend.
Running through Sept. 13 at Shougang Park, a former industrial site and a venue for the Beijing 2022 Winter Olympics, the fair has drawn participants from 90 countries, regions and international organizations, with over 1,800 companies exhibiting on-site. Among them are 473 Fortune Global 500 firms and other industry leaders, including Honeywell, Johnson and Johnson, and Siemens.
During the fair, more than 190 forums, conferences, and business negotiation and promotion events will be held, along with 74 supporting activities and 11 business tour itineraries.
Norway is this year's guest country of honor at CIFTIS, and its exhibition area showcases Norway's distinctive industries and innovative achievements.
"It's a great opportunity and we can see this from the number of Norwegian companies that show up. And we have a record number of companies this year because our companies see that this is a good platform to develop all partnerships, but also to create new partnerships," said Vebjorn Dysvik, Norwegian Ambassador to China.
This year, for the first time, the fair has established an exhibition area for Chinese services in the core exhibition zone, showcasing innovative achievements and exemplary cases in the field of trade in services.
In addition, special zones were set up for the first time in several thematic exhibitions to provide professional support for Chinese enterprises looking to expand into international markets.
"The exhibition area for overseas service providers features 28 companies offering services overseas. It covers a wide range of topics, including accounting and auditing, human resources, intellectual property, consulting services, financial services, and digital marketing software services. In addition, we have invited 41 firms to participate in the overseas service recommendation roadshow, providing attendees with a one-stop solution for overseas expansion," said Zhao Fangqi, staff member at the fair.
This year's event also highlights the application of cutting-edge technologies in the service trade sector, while the sports and cultural tourism service exhibition areas feature numerous innovative interactive experiences.
Some exhibitors expressed their hope to meet the new service demands driven by the artificial intelligence (AI) era through more innovative approaches.
Norwegian ambassador hails CIFTIS as partnership platform
