The number of Chinese intellectual property filings is the highest among all IP categories, meaning that Chinese companies are becoming more innovative and enterprising, according to the director general of the World IP Organization.
"China's achievements in the Global Innovation Index, as well as its rankings in the technology classes, show that China is a country that pays a lot of attention to intellectual property," Daren Tang told Yicai at the 20th Shanghai International IP Forum. Over the last 50 years, China has totally transformed its IP and innovation ecosystem, Tang noted.
China is the only middle-income economy in the GII top 30, ranking 12th, according to the WIPO's GII released in September. Moreover, China has 24 Science and Technology clusters among the world's top 100, ranking first before the United States, which has 21. The Shenzhen-Hong Kong-Guangzhou, Beijing, and Shanghai-Suzhou clusters ranked second, fourth, and fifth, respectively.
"Chinese companies are not just looking at IP as a form of registration or legal right, but they are using IPs to grow their business," Tang said. "This is very good for the Chinese economy because as China pushes towards using science, technology, and innovation to grow its economy, IPs are very important for this strategy as IPs will protect the ideas and help them to be commercialized."
At last year's WIPO Global IP Awards, which celebrate enterprises and individuals making smart use of IPs for commercialization and bringing positive contributions to society, Shanghai-based light-emitting-diode technology developer Shylon Optoelectronics Technology was one of the two Chinese firms winning an award, which helped it receive many procurement contracts from the 2022 World Cup in Qatar, Tang pointed out, adding that two other companies from Shanghai also won an award this year.
WIPO teams discussed with shareholders, including top leaders from Guangdong province and Shanghai during their visit to China. "The WIPO will continue working with the Chinese government to support the use of IPs as a catalyst of growth and development not just for China but for all countries in the world," Tang noted.
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Launched in August 2016, Yicai Global is the English-language news service of Yicai Media Group, the financial news arm of Shanghai Media Group, which is one of China's largest state-owned media conglomerates. Focused primarily on China's business world, Yicai Global is dedicated to provide reliable and insightful information and analysis of the economy, finance, tech, startups, and entrepreneurs.
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