China breaks into the world’s top 10 most innovative economies

China has debuted in the top 10 of the latest survey of innovative economies, the Global Innovation Index (GII), conducted by the United Nations’ World Intellectual Property Organization (WIPO), against the backdrop of heavy investment in research and development. This advancement shifted Germany to 11th position, Reuters reported.

The recent GII covered 139 countries, assessing them on 78 indicators. Switzerland topped the ranking, maintaining this position since 2011, followed by Sweden, the U.S., South Korea, Singapore, the U.K., Finland, the Netherlands, Denmark and China.

According to the data, China is getting closer to becoming the biggest spender on research and development, while the global outlook indicates innovation is slowing amid shrinking investment volumes.

The survey suggests that research and development growth is expected to slow from 2.9% in 2024 to 2.3% this year, marking the lowest levels since 2010, after the financial crisis.

According to the outlet, China filed around a quarter of international patent applications last year, whereas the U.S., Japan and Germany — together making up 40% of total filings — recorded declines.