The latest data released by the China National Intellectual Property Administration (CNIPA) reveals that as of the end of October this year, the number of valid invention patents in China has reached 4.66 million. Of these, enterprises hold 3.417 million patents, accounting for 73.3% of the total.

In the first three quarters, the number of patent transfer and licensing records by universities and research institutions nationwide increased by 24.1% year-on-year. The total amount of patent and trademark pledge financing reached 792.23 billion yuan, marking a year-on-year growth of 60%. Additionally, the total import and export value of intellectual property usage fees hit 307.2 billion yuan, up 7.2%, all setting new historical records.

As of the end of October, the average examination period for invention patents in China was reduced to 15.6 months. To date, 123 national-level intellectual property protection and rapid rights protection centers have been approved for construction, spreading across 29 provinces, regions, and municipalities, with over 193,000 registered innovative entities. In the first three quarters, these protection and rapid rights centers handled a total of 98,000 intellectual property protection cases, with an average processing time of under two weeks.

Moreover, in the first three quarters, the proportion of invention patents in new patent applications by universities and research institutions increased to 70.9%, indicating a steady improvement in the quality of patent applications. Currently, a comprehensive inventory has been completed for 1.349 million existing patents across over 2,700 universities and research institutions. A batch of invention patents with promising industrialization prospects has been added to the convertible resource pool. 

Source(s):chinaiptoday.com