According to the Report on China's Services Imports released by the Ministry of Commerce (MOFCOM), China spent $28.74 billion for the use of intellectual property imports last year. The figure was up nearly 14-fold from 2001 when the country joined the World Trade Organization.

Most of China's payments for the use of intellectual property imports were for patents, trademarks and copyrights.

In 2017, the charges for the use of imported intellectual property accounted for 6.1 percent of China's total services imports.

China's cumulative services imports are expected to exceed $2.5 trillion over the next five years. Then, the country's services imports will account for more than 10 percent of global services imports, contributing over 20 percent to the growth of the global total.

During the period, China will see over $700 billion of cumulative imports in emerging services, including charges for the use of intellectual property, telecommunications, computer and information services, financial services, and personal cultural and recreational services, the report also said.

AFD China Newsletter is intended to provide our clients and business partners information only. The information provided on the newsletter should not be considered as professional advice, and should not form the basis of any business decisions.