China's import and export payments for the use of intellectual property (IP) rose to 398.71 billion yuan (54.72 billion U.S. dollars) in 2024, marking a 5.9 percent growth year on year, according to an official announcement made on Thursday.
China has completed a nationwide review of about 1.35 million existing patents across more than 2,700 universities and research institutions in 2024, as part of a special project to boost innovation and economic growth, Shen Changyu, commissioner of the China National Intellectual Property Administration, said at a press conference hosted by the State Council Information Office (SCIO).
"The benefits of intellectual property utilization are better. (In 2024) we have opened up more than 15,000 patents for licensing. Patent transfer licensing filings reached 613,000 in the whole year, an increase of 29.9 percent year-on-year; among them, universities and research institutions filed 76,000 transfer licenses, an increase of 39.1 percent year-on-year. The industrialization rate of valid invention patents of enterprises reached 53.3 percent. The added value of patent-intensive industries in 2023 reached 16.87 trillion yuan, accounting for 13.04 percent of the GDP. The added value of the copyright industry in 2023 reached 9.38 trillion yuan, accounting for 7.44 percent of the GDP. The direct annual output value of geographical indication products exceeds 960 billion yuan," Shen said.
Starting from humble beginnings, China has emerged as the world's largest patent filer and is advancing toward becoming an IP powerhouse. The government has pledged to continue leveraging intellectual property to boost innovation and support Chinese modernization.
China's IP use-related export and import up by 5.9 pct: official
