This was announced by Hu Wenhui, deputy head of the National Intellectual Property Administration (NIPA) of the People’s Republic of China, Ukrinform reported, citing CGTN.

According to Hu, more than 40% of the total amount consists of high-value patents; This shows that China is rapidly developing the latest technologies and the country’s significant contribution to global innovation progress.

China’s high-tech enterprises and small and medium-sized technology companies own 2.13 million, or more than half, of the patents, up 24% from 2022, according to NIPA.

The total number of valid invention patents in China has now exceeded 4.99 million, and the number of active trademarks in the country has reached 46.15 million.

Last year alone, 921,000 patents for inventions were granted in China, and nearly 74,000 international patent applications were accepted for consideration under the Patent Cooperation Treaty (PCT) system, and approximately 4.38 million trademarks were registered.

According to Ukrinform, Chinese Premier Li Qiang, in his speech at the World Economic Forum in Davos, said that the country’s economy is developing steadily and grew by about 5.2% last year, exceeding the government’s initial expectations.