In a groundbreaking announcement, China has solidified its status as a global innovation powerhouse by surpassing a remarkable 4.02 million domestic valid invention patents as of the close of 2023. This marks a staggering 22.4% increase from the previous year, propelling China to become the first nation in the world to boast over 4 million valid domestic invention patents, as confirmed by the National Intellectual Property Administration (NIPA) on Tuesday.
Hu Wenhui, Deputy Head of the NIPA, highlighted the significance of this achievement, stating, ‘High-value patents accounted for over 40% of the total, demonstrating that China has emerged as a true intellectual property giant, consistently driving global innovation forward.’
The dynamic landscape of innovation is further illustrated by the fact that national high-tech enterprises, alongside small and medium-sized tech companies, collectively hold an impressive 2.13 million of these patents—a remarkable 24.2% increase from the previous year. Hu emphasised that self-innovation has become a crucial driving force for the high-quality development of these entities.
Notably, the total number of valid invention patents in China exceeded 4.99 million by the conclusion of 2023, accompanied by an equally impressive 46.15 million valid trademarks, according to Hu.
In 2023 alone, a staggering 921,000 invention patents were authorized, and approximately 74,000 international patent applications were filed via the Patent Cooperation Treaty (PCT), according to Hu’s detailed report. The commitment to international collaboration in the realm of intellectual property is evident, showcasing China’s dedication to fostering a global culture of innovation.
The nation also registered a substantial 4.38 million trademarks in 2023, with 6,196 international trademark applications processed through the Madrid System during the year. This international engagement underscores China’s commitment to contributing to the global intellectual property landscape.
Going beyond patent registration and trademarks, China has approved an impressive total of 2,508 geographical indication (GI) products by the close of 2023. The annual output value of these GI products has surged past 800 billion yuan (approximately $112.46 billion), reinforcing China’s position as a leader in protecting and promoting products associated with specific geographical origins.
China’s ascent to surpass 4 million domestic invention patents is a testament to its unwavering commitment to innovation, reflecting a pivotal moment in the country’s technological evolution. As the world watches, China continues to redefine the boundaries of global innovation, setting new benchmarks and inspiring the next wave of groundbreaking advancements.
Vakilsearch experts commend China’s patent surge, emphasising the pivotal role of intellectual property in global innovation. They highlight the significance of high-value patents and stress the need for businesses to safeguard their innovations through comprehensive legal protection.
In this era of unprecedented innovation, securing your intellectual property is paramount. Vakilsearch stands ready to empower businesses with expert legal services, ensuring robust protection for patents and trademarks. Safeguard your innovations; choose Vakilsearch for a legal partner in your journey to success.
- Germany Bans Oneplus Smartphones Over 5G Patent Disputes - October 4, 2024
- DC and Marvel Lose Trademark Rights to ‘Superhero’ - October 4, 2024
- Ravi Ahuja Appointed as CEO of Sony Pictures - October 4, 2024
