Watchdog touts China IP progress

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April 24, 2020

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Watchdog touts China IP progress

Source: Xinhua | 00:18 UTC+8 April 24, 2020 |

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With the continued growth of patents and strengthened protection efforts, China has basically achieved the goal of building a nation with high-level creation, utilization, protection and management of the intellectual property, the industry watchdog said yesterday.

China has become a veritable IP power with a huge rise in patents over the past 12 years, Shen Changyu, head of the National Intellectual Property Administration, told a press conference during the National IP Publicity Week 2020 in Beijing.

From 2007 to 2019, the number of valid invention patents held on the Chinese mainland has increased from 84,000 to 1.86 million, and the number of valid registered trademarks has increased from 2.35 million to 25.22 million.

China has taken the global lead in the number of applications for patents. According to the World Intellectual Property Organization, with 59,000 applications filed in 2019 via the Patent Cooperation Treaty System, China overtook the US as the biggest user of the system.

“Remarkable achievements in IP utilization have effectively promoted economic and social development,” Shen said, citing that the added value of China’s patent-intensive industries in 2018 reached 10.71 trillion yuan (US$1.51 trillion), contributing 11.6 percent to its GDP.

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Watchdog touts China IP progress

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