I can tell from my own experience that for pharmaceuticals, they invest heavily in China. One German pharmaceutical has within 1 year, tripled their own staff and bought a local pharma for 1 billion US$. At the same time they closed multiple locations in the US and laid off hundreds of people. Because of the current regime that do not support or believe in the new science. Both Chinese local and central governments are going hard on science with big investments or tax breaks.

Edit: not to mention the investment in Green and renewable energy. China invested 1 trillion dollars last year alone. https://hive.blog/hive-167922/@cryptoandcoffee/china-invested-1-trillion-on-renewable-energy-last-year-dqc