China takes lead in global growth of IP

China's quantity and quality of patent and trademark applications both increased in the past year, with intellectual property protection getting stronger, according to a senior IP regulator. Last year, the number of valid domestic invention patents in China exceeded 4.75 million, making it the first country in the world to break the 4-million mark in this sector, Shen Changyu, commissioner of the China National Intellectual Property Administration, said on Tuesday.

China's patent-intensive sectors contributed 13% of GDP in 2023

The added value of China's patent-intensive industries was 16.87 trillion yuan ($2.35 trillion) in 2023, contributing 13.04 percent of the country's GDP, an increase of 0.44 percentage points from the previous year, the China National Intellectual Property Administration (CNIPA) said on Tuesday. In 2023, China became the first country in the world to have more than 4 million valid invention patents. Last year, that number reached 4.756 million, and China's numbers of international patent, trademark and design applications ranked among the highest in the world. The CNIPA also highlighted that C…

Domestic firms increasingly aware of value of IP

For Long Weimin, a 58-year-old mechanical engineer with decades of experience and hundreds of inventions to his name, nothing is more exciting than innovations that can solve problems in the real world. A chief engineer at Zhengzhou Research Institute of Mechanical Engineering Co Ltd, Long has also been appointed a patent review consultant by China's top intellectual property regulator. However, in the early years of his career, Long was unaware of the significance of a patent certificate. It wasn't until 2015, when an overseas company challenged an infringement claim on a brazing material pro…