Shen Changyu, director of the National Intellectual Property Administration, PRC, revealed at the 12th China International Patent Technology and Products Fair on November 11 that the total amount of patent and trademark pledge financing across the country this year is expected to exceed 200 billion yuan. He also stated that the strategic outline for a country with intellectual property rights towards 2035 and the Intellectual Property “14th Five-Year Plan” are being formulated, which will further improve the intellectual property transformation and application incentive policies and the intellectual property market operation system and mechanisms, and vigorously develop patent-intensive industries.

“In the first half of this year, the central government issued the opinions on accelerating the improvement of the socialist market economy system in the new era, clearly proposing to improve and refine the rules and regulations of the creation, use, transaction, and protection of intellectual property rights. Focusing on the use of intellectual property rights, we coordinated and promoted the establishment of mechanisms, building a platform, and promoting various tasks in the industry, the ability to use intellectual property has been continuously enhanced, and benefits have accelerated.” Shen Changyu said.

Data show that in the first 10 months of this year, the total amount of patent and trademark pledge financing across the country reached 166.4 billion yuan, a year-on-year increase of 35%, and it is expected to exceed 200 billion yuan throughout the year. From January to August, the import and export volume of intellectual property royalties reached US$29.13 billion, a year-on-year increase of 4.2%. Among them, exports were US$5.58 billion, a year-on-year increase of 26.4%, fully demonstrating the vitality of China’s intellectual property trade.