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Report – Patented in China II: The Present and Future State of Innovation in China

Patented in China II: The Present and Future State of Innovation in China, by Eve Y. Zhou, Ph.D., and Bob Stembridge – Thomson Reuters.October 2010.

  • “China’s economy has shifted focus, moving away from traditional agriculture and manufacturing toward innovation-oriented activities. Since Chinese economic reforms started in 1978, China has emerged from being a poor developing country to become the second-largest economy in the world after the US, both in terms of purchasing power parity and, most recently, in terms of GDP. More recently, the Chinese government has encouraged the country to embrace innovation through a variety of measures. It has increased the overall research and development budget for the country, introduced tax breaks and monetary incentives to increase indigenous innovation, and continued investing in the nation’s academic institutions, which have become a driving force behind Chinese patenting. In just 25 years after the country’s Patent Law took effect in 1985, China has become the third-largest patent office in the world by annual invention patent applications, after the US and Japan. From 2003 to 2007, China’s GDP grew at an average annual rate of 9.75%, while Chinese invention patent applications grew at an average of 28.4% per year. If current trends continue, China is set to lead the patent information landscape in the near future. This report looks at current patent trends and projects how the world of patent information will look in five years. The driving factors for China’s patent boom are analyzed using data drawn from Thomson Reuters. Patent volumes and trends are explored, as well as the underlying causes of increased innovation in China, including economic and government policy factors.”
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