More efforts should be made to promote patent transformation by foreign-funded enterprises under market principles, stated a recently released action plan for patent transformation and application.

The special action plan for Patent Transformation and Application (2023-2025) was approved by the State Council executive meeting and issued and implemented by the General Office of the State Council last week.

It encourages overseas patent holders, foreign-invested enterprises and others to transform and implement patent technology in China based on voluntary, equal and mutually beneficial principles.

Shen Changyu, director of the State Intellectual Property Office, said that this reflected the Chinese government's commitment to creating an open, fair, just and non-discriminatory innovation environment.

He said that the Chinese government has always insisted on strictly protecting the intellectual property rights of foreign-funded enterprises in accordance with the law, creating a fair and competitive business environment, which has attracted an increasing number of foreign-funded enterprises to apply for patents and transform and implement them in China.

Data shows that from 2012 to September 2023, the cumulative number of authorized foreign invention patents in China reached 1.06 million, and the number of valid invention patents reached 897,000. In the first seven months of this year, the total amount of intellectual property usage fees imported and exported by China reached 223.8 billion yuan ($30.6 billion), a year-on-year increase of 3.2 percent. Imports reached 175.17 billion yuan, a year-on-year increase of 2.8 percent.

"This data fully demonstrates the recognition of China's intellectual property protection by foreign-funded enterprises," Shen said.

To further promote the patent transformation by foreign-funded enterprises under market principles, the State Intellectual Property Office will work together with relevant departments to address the concerns and demands of foreign-funded enterprises regarding intellectual property rights from three aspects, in order to better respond to and resolve them, and promote the larger-scale utilization of foreign capital.

These measures include improving communication and exchange mechanisms with foreign-funded enterprises, treating the intellectual property rights of domestic and foreign-funded enterprises equally and providing equal protection, and promoting patent technology exchange and cooperation among countries based on market-oriented and rule-of-law principles.

 Source: chinadaily.com.cn