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China Business News Technology

China Records Over 4 Million Domestic Invention Patents

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China owned about 4.02 million domestic valid invention patents by the end of 2023. This is up 22.4% year-on-year, making it the first country in the world to hold this many patents, the National Intellectual Property Administration (NIPA) reports.

“High-value patents accounted for over 40% of the total, which shows that China has been a veritable IP power and has consistently contributed to global innovation,” Hu Wenhui, deputy head of the NIPA says.

The national high-tech enterprises, as well as small and medium-sized tech companies, hold 2.13 million of these patents, up 24.2% year-on-year.

Read the full story HERE.

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