- Quantum Technology in China provides coverage of historical investment trends, regulatory developments, key Chinese quantum companies and investors.
- The report covers the importance of quantum and its varied applications, particularly in the areas of security and defense.
- The report also breaks down the close public-private cooperation in the Chinese quantum market, and significant government involvement, even in the ‘private’ sphere.
China appears poised to be the leader in the global quantum market, according to a report from The Quantum Insider (TQI), the leading provider of news and market intelligence on the quantum technology industry. The report provides in-depth coverage of historical investment trends, regulatory developments, key Chinese quantum companies and investors.
Growing tensions between China and the US over the past decade have fueled China’s race to achieve technological independence, resulting in significant public and private investment in high-tech sectors, including quantum computing. The report highlights the importance of quantum and its varied applications, particularly in the areas of security and defense, which have rendered it one of the key areas of interest for China.
The report details that China is considered the global leader in quantum communications, with recent breakthroughs such as the world’s first successful launch of a quantum-enabled satellite and the establishment of a 4,600+ km quantum communications network. Additionally, China’s ongoing education modernization initiatives, including special quantum programs, will tackle any resourcing and talent issues in the future.
China is estimated to have committed significant government funding in quantum. Although actual funding levels are difficult to accurately calculate, the report notes confirmed funding is at least $4 billion with many sources guiding to funding of over $17 billion. The upper end of the range would amount to approximately double the total committed funding across the EU (or 4x the US). The exact budget breakdown for the amount is not public but is understood to include a significant construction component for the world’s largest quantum research facility, the 37-hectare National Laboratory for Quantum Science in Hefei.
“As a leading market intelligence company, we are committed to providing our clients with the most comprehensive and up-to-date information on emerging trends in quantum computing,” said Alex Challans, CEO of Resonance, the holding company that owns TQI. “Our latest report on China’s emergence as a global leader in quantum investment and research is something many of our clients have been asking for and we’re excited to finally share our work.”
The report highlights that close public-private cooperation in the Chinese quantum market, and significant government involvement, even in the ‘private’ sphere, are driving the country’s advancements. Private investment into quantum in China reached $255 million in 2022, significantly below international VC activity, though real investment levels are likely higher.