China's Ministry of Science and Technology has said it will spend more effort to foster the transfer of high-quality intellectual properties into market-end products.
The ministry will improve the management of key intellectual property rights (IPRs) transfer processes, take contract volume as a main appraisal indicator, foster market-orientated transformation and tap IRP trading centers and networks to expedite the high-quality fruition of IPR.
China recently issued a plan for the 2021-35 period to strengthen build-up and protection of IPRs, by accelerating legislation on IPRs in new fields and forms of business, such as big data, artificial intelligence (AI), algorithms and genetic technology.
Per the plan, the added value of patent-intensive industries is expected to be equivalent to 13 percent of China's GDP by 2025, and 7.5 percent of the copyright industry.
According to a September report released by the World Intellectual Property Organization, China ranks 12th in the Global Innovation Index of 2021, up two places compared with 2020. The report showed that China's ranking has risen annually since 2013, showing a strong upward momentum.
http://english.ipraction.gov.cn/article/ns/202110/357374.html
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