Since the beginning of the 21st century, China has been accelerating its transition to an innovative economy. Several breakthrough inventions by Chinese engineers and designers have demonstrated that this country is not only a “world factory” but also a competitive developer of high-tech products. China’s development has begun to threaten the technological leadership of Western countries. The competitiveness of Chinese scientific and technological developments in the world market is analyzed, and the position of the so-called unicorn companies in the global startup market is evaluated. Government support measures that contribute to the growth of research and development costs are characterized, and the main risks and threats faced by China in its transition to a new technological order are highlighted. The author of the article comes to the following conclusions. The policy of containment of China pursued by Western countries is determined by the growth of the competitiveness of Chinese developments and is primarily aimed at industries in which the country has managed to take a leading position. The high share of R&D spending in China is supported by a preferential tax policy. The effectiveness of Chinese developments is determined by the strategic planning of research areas by the authorities. The main risks in the development of Chinese science are associated with sanctions pressure on sensitive sectors of the national economy, among which the ban on the supply of semiconductor products to Chinese companies poses the greatest threat.