China’s small and medium-sized enterprises (SMEs) are making significant strides in innovation, thanks to a surge in patent ownership. The China National Intellectual Property Administration (CNIPA) announced on Monday that the industrialization of patents has accelerated the growth of these enterprises.
As of November, enterprises hold 73.5% of valid domestic invention patents, with a significant number owned by SMEs, according to CNIPA spokesperson Liang Xinxin. Of the valid invention patents held by SMEs in China in 2024, 75.3% are related to independently developed inventions, marking a 3.9 percentage point increase from last year. Additionally, the industrialization rate of these patents has reached 55.1%, up by 3.6 percentage points, highlighting the growing impact of SMEs in China’s innovation landscape.
Senior CNIPA official Wang Peizhang emphasized the importance of collaboration, stating that the agency is working closely with central and local governments to promote innovation and technological integration. By fostering partnerships between SMEs, universities, and research institutions, China aims to accelerate the growth of SMEs through patent commercialization.
Reference(s):
cgtn.com
