Foreign companies file record number of patent applications in China
- Beijing says 9.1 per cent rise in applications for 2018 shows improving climate for investors
- Figures released as US continues push for improved intellectual property protections in ongoing trade talks
Foreign companies filed a record number of patent applicants in China last year, which the government said reflected an improving business environment for overseas investment.
A total of 148,000 patent applications were filed by foreign companies in 2018, according to figures from the National Intellectual Property Administration released on Thursday. This was 9.1 per cent higher than the previous year’s total.
Foreign companies also lodged 244,000 trademark applications last year, about 16.5 per cent more than in the previous year.
In addition, intellectual property royalties, the fee paid for using IP rights, reached US$35 billion.
“Usually the number of patent applications filed by foreigners is widely seen as an indicator or barometer of business environment for foreign investment,” Bi Nan, the administration’s director for planning and development, told a press conference in Beijing.
“The numbers mean that China’s business environment is improving, and we are expecting growth to continue in the medium and long term,” he said.