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China has just unveiled its draft fiscal budget for 2026 and its blueprint for the next five-year plan. As Beijing reveals a 10 per cent year-on-year budget increase for the sector, it is positioning frontiers such as future energy, brain-computer interfaces and satellite internet as China’s future industries, with the nation doubling down on science and technology spending to support them. This year, China is allocating a total of 426.42 billion yuan (US$61.7 billion) for science – the largest percentage increase among major government spending areas, outpacing defence, diplomacy, public security and education. The numbers were released in the Ministry…
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