The number of valid domestic patents in China reached 4.425 million in June, the China National Intellectual Property Administration said at a news conference on Monday. The number of high-value invention patents were 12.9 per 10,000 residents, achieving the national target set out in the 14th Five-Year Plan period (2021-25) ahead of schedule.

The numbers not only signify the progress in protecting intellectual property rights in China, but they also effectively empower economic innovation and development. In the first half of 2024, the number of patent transfer licenses issued by universities and research institutions nationwide increased by 22.2 percent year-on-year. The added value of patent-intensive industries reached 15.3 trillion yuan ($2.1 trillion), accounting for a 12.7 percent increase in GDP. From January to May, the total import and export volume of IPR usage fees reached 180 billion yuan, a year-on-year increase of 14.1 percent, with export growth at 17.7 percent, which is four percentage points higher than the import growth rate. Clearly, patents are boosting the nation's innovation process.

Protection of IPR can also help form a first-class business environment. With the further advancement of IPR, the newly revised Patent Law and its implementing regulations provide further legal protection for IPR.

By participating in global intellectual property rights governance, China has successfully joined The Hague Agreement Concerning the International Deposit of Industrial Designs and the Marrakesh Treaty on intellectual property rights in copyright and related rights in performances. As of June, the number of foreign valid invention patents and valid registered trademarks in China had reached 919,000 and 2,135,000 respectively.