China’s intellectual property landscape is booming, with the number of high-value invention patents exceeding 1.66 million by the end of 2023. This represents a 25.7% increase year-on-year, showcasing the country’s growing commitment to innovation.
This surge translates to an average of 11.8 high-value invention patents per 10,000 people nationwide, demonstrating the widespread impact of innovation efforts.
Key sectors are leading the charge. By the end of 2023, high-value invention patents in strategic emerging industries like AI, biotech, and advanced materials reached 1.17 million, accounting for a 70% share of the total. This represents a 22.5% increase from the previous year, highlighting China’s focus on fostering cutting-edge technologies.
This patent surge is empowering businesses as well. The number of effective invention patents that enterprises can leverage as collateral for increased funding jumped 37.4% year-on-year to 104,000. This easier access to financing fuels further research and development, creating a positive feedback loop for innovation.
China’s impressive growth in high-value invention patents positions it as a major player in the global innovation landscape. As the country continues to prioritize and invest in research and development, we can expect even more groundbreaking advancements in the years to come.
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