China set to triple filed patents by 2020
Print Edition
CHINA is aiming to triple the number of patents it files by 2020 in an effort to boost the country’s high-tech economy in areas from agriculture to pharmaceuticals, according to a notice from the central government yesterday.
China is targeting 14 invention patents per 10,000 habitants by 2020 compared with four in 2013. It published 629,612 patents in 2013, over 200,000 more than the United States, said a Thomson Reuters study in December.
China wants to become a bigger player in high-technology industries as the country grapples with slower growth and rising costs for its manufacturing base.
“Intellectual property (IP) is increasingly becoming a vital component of China’s strategic resources and competitive ability,” the statement said.
It added that by 2020, China would have boosted its legal environment for IP protection and management, often an area of contention for foreign firms who say that IP law in China sometimes favors local players.
China is also looking to cut the length of the review process for patent and trademark applications. Patent reviews will fall to 20.2 months in 2020 from 22.3 months in 2013, while trademark reviews will fall to nine months from 10 months.
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