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5 minutes to read by  RBC Emerging Markets Equity team, A.Su Aug 31, 2025

On a recent trip to China, we immediately noticed the focus on tech innovation, evidenced by the ads for AI and data centre storage throughout the airport. In recent decades, the country has made remarkable progress, transforming from a manufacturing hub into a global leader across numerous technology sectors.

In our full note, we discuss:

  • A focus on R&D: substantial investments in research, innovation, and high-tech industries have propelled China to higher positions in global innovation rankings, and the country produces one of the world’s largest pools of STEM graduates.

  • EVs: China has been the world’s largest automobile producer since 2009 and manufactured nearly one-third of all cars worldwide in 2023. It has the highest EV penetration rate globally, and AI-driven features, such as autonomous driving, are increasing.

  • AI and robotics: China is emerging as a strong competitor to the US, with a focus on accelerating AI adoption through cost efficiencies in AI production. An ambitious goal of becoming a global leader in AI innovation by 2030 is clearly a political priority.

  • Investment opportunities: technological progress is presenting both opportunities and challenges for businesses. This highlights the importance of a selective and strategic approach, and we typically look to invest in Chinese companies later in the cycle.

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