China’s technology sector is rapidly evolving, fueled by a strategic focus on patent-heavy industries that form a core pillar of the nation’s economy. A recent report from China’s top intellectual property regulator highlights that China’s patent-intensive industries gathered approximately 50% of the enterprise RandD investments across the country, and contributed 12.71% to its GDP.
According to China Economic Net, the added value of patent-intensive industries in China reached 15.32 trillion yuan in 2022. This figure reflects an average annual growth rate of 9.36% from 2018 to 2022.
These industries are distinguished by significant investments in research and development, as well as a strong emphasis on patent creation. They encompass seven sectors: information and communication technology (ICT) manufacturing, ICT services, advanced equipment production, new materials production, pharmaceuticals, environmental protection, and research, design, and technology services.
Notably, ICT services and ICT manufa
cturing, as representatives of emerging industries, have shown the fastest growth rates, with average annual increases of 14.86% and 10.23% respectively between 2018 and 2022, the data indicated.
Internal RandD spending in the patent-heavy industries also increased, reaching 1.14 trillion yuan in 2022 – a rise of 11.28% from the previous year. The investment intensity – the ratio of internal RandD spending to business revenue – reached 2.46%, up 0.11% from the previous year and 0.40% over 2018, and 2.23 times that of non-patent-intensive industries, as per the report.
Source: Emirates News Agency