Chinese enterprises are flexing their innovation muscles like never before! 🧠💪 For the first time, over 50% of invention patents held by companies have been industrialized, according to the China National Intellectual Property Administration. In 2023, the rate hit 51.3%—up 3.2 percentage points from 2022—marking five straight years of growth.
🚀 High-Tech Leads the Charge
State-level high-tech enterprises are crushing it with a 57.6% industrialization rate (up 1.5 points from last year). These companies now hold 70%+ of China’s effective invention patents, with over 3 million patents under their belts. Talk about #InnovationNation! 🌐
🏆 SMEs: The Next Frontier
While startups and smaller firms still face hurdles in turning patents into products, the government just rolled out a new plan to boost support. Think: funding, training, and smoother collaboration channels. 🛠️✨
Ge Shu, a senior IP official, called enterprises the 'engine' of China’s tech revolution. With AI, green energy, and biotech heating up globally, this patent surge could redefine Asia’s role in the innovation race. 🔥
