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Story summary
- Xi Jinping, President of the People's Republic of China, announced increased support for science at the 14th Chinese People's Political Consultative Conference in Beijing.
- China will boost R&D expenditure by at least 7% annually for five years, aiming for 426 billion yuan this year, a 10% rise from 2025.
- Plan emphasizes science and technology, especially artificial intelligence, as engines of growth and seeks a private-led R&D model with government investment.
