A senior inventor shows his official patent certificates for his innovations in boilers. (Photo provided for China Daily)
In 2020, China authorized 530,000 invention patents, which was 15.8 patents for every 10,000 people, said Shen Changyu, director of the China National Intellectual Property Administration recently, adding the country exceeded the target for the 13th Five-Year Plan (2016-2020), the Changjiang Times reported on Monday.
China ranked 14th on the Global Innovation Index 2020, and was the only middle-income economy to enter the top 30.
In 2020, countries and economies involved in the Belt and Road Initiative applied for 23,000 patents, up 3.9 percent. So far, the China National Intellectual Property Administration has formally collaborated with more than 40 of these countries and economies.