China has announced that it will become the first country to have over 4 million domestic patents by the end of 2023. This follows an annual increase of 22% and 4%, making it the first country in the world to have achieved this, according to the country’s National Intellectual Property Administration.
The deputy head of the administration, Hu Wenhui, has praised the high-value patent registrations, which account for over 40% of the total. He said this demonstrates China’s accurate patenting and its contribution to global innovation.
National high-tech enterprises and small and medium-sized technology companies have registered 2.13 million invention patents, an increase of 24% year on year.
The growth of patent rights also promotes high-quality development of self-innovation, according to CGTN.
In addition, by the end of 2023, the total number of valid patents in China was over 4.99 million, and the number of valid trademarks in the country was 46.15 million.
Source: FBC
