BEIJING, 30th November, 2024 (WAM) - China's inventory of valid invention patents soared to 4.66 million by the end of October this year, according to the National Intellectual Property Administration (NIPA).
According to a report by China Central Television (CCTV), China has become the first country in the world to possess over 4 million valid domestic invention patents.
A spokesman for the NIPA said at a press conference in Beijing that China has been comprehensively promoting the transformation and application of intellectual property. For the first time ever, it compiled an inventory of more than 1.3 million patents in universities and research institutions across the country, forming a transformable patent resource library.
"We have vigorously developed patent-intensive industries. The added value of patent-intensive industries reached 15.32 trillion yuan (about $2.12 trillion), a year-on-year increase of 7.1%, accounting for 12.7% of GDP," said Heng Fuguang, the NIPA spokesman.
In the first three quarters of this year, the number of patent transfer licenses in universities and research institutions across the country exceeded 38,000, a year-on-year increase of 24.1 percent.
The total amount of patent and trademark pledge financing registration surpassed 792 billion yuan (about $109 billion), up 60% year-on-year, while the total import and export of intellectual property royalties reached more than 307 billion yuan (about $42 billion), a year-on-year increase of 7.2%.