MORE PATENTS, BUT COUPLE OF GRANTED ABROAD BY GLOBAL GOLD REGULAR
This really is likely due to China’s IP tending a lot more towards adaptive creativity – over fifty percent its domestic filings are utility patents. These have decrease eligibility requirements, safety periods and preservation rates, indicating reduced IP quality.
Moreover, in 2020, only 8 per cent of China’s patents were granted overseas compared to 29 % of the United States’. Overseas patents are very important for protecting the country’s IP across global value stores.
Only 10 per cent of global gold standard “triadic” patents – a set of patents which are registered with EUROPEAN UNION, Japanese and ALL OF US patent offices to safeguard the same invention – were filed by China in 2019, while the United States accounted for 22 per cent.
Even globally-recognised Chinese companies like Huawei, which has effectively developed extensive IP portfolios in growing sectors such as 5G, are outliers in a corporate environment missing high-quality IP filings.
China’s creativity trajectory differs from previous rising power, which have historically leveraged a more balanced alliance between the public and private sectors to build up IP.
Although the private industry is the biggest contributor to research and growth (R& D) spending in China, this statistic is complex by the fact that state-owned enterprises dominate China’s corporate landscape, information systems for almost half of total R& D investing in 2020.
China’s R& G spending has grown in a significantly faster price than the United States since 2000. Yet its declining total factor productivity reflects the high level of state investment in inefficient companies.