China has surpassed the United States in total research and development (R&D) investment, according to the Organisation for Economic Co-operation and Development (OECD) report. The data for 2024 showed China invested $1.03 trillion, slightly above the US' $1.01 trillion when adjusted for purchasing power. Since 2004, China's R&D spending has grown over 14% annually, more than double the US pace.