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City makes efforts to turn patents into cash

THE number of patents registered in Shanghai this year increased a faster pace but their rate of commercialization remained low, the Shanghai Intellectual Property Administration said today as it kicked off the Patent Week publicity drive.

In the first nine months of this year, new patents filed in Shanghai reached 16.56 per 10,000 people, five times the national goal for 2015, said Lu Guoqiang, director general of the bureau.

"I am proud to say that Shanghai is leading the country in terms of patent number," Lu said. "This motivates us to provide better intellectual property services."

Lu said the patent conversion rate in Shanghai remained low compared with that in developed countries, but he gave no specific data.

"It is our top priority to make more patents realize their value," Lu said.

To turn more patents into productivity, representatives from 28 cities in the Yangtze River Delta signed a framework agreement today with the Shanghai Intellectual Property Service Center to promote technology transfer and trade in the region.

Between January and September, the bureau helped 70 companies to get IP loans totaling 191 million yuan (US$30.67 million). Of which, 120 million yuan was pledge loans.

The bureau said it also plans to expand local patent evaluation agents to meet increasing demand from the IP trade market. It welcomes global patent organizations to set up affiliated agencies in Shanghai in a bid to make Shanghai a patent trading center in the Asia-Pacific region by 2020.


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