The Fuxing intelligent bullet train prepares for departure at Fuzhou South Station. It is a new generation of high-speed intelligent train developed by China with independent intellectual property rights. (PHOTO: XINHUA)

By ZHONG Jianli

To promote the industrialization of patents and accelerate the transformation of innovation achievements into real productivity, the General Office of the State Council recently issued the Special Action Plan for Patent Transformation and Application (2023-2025).

The plan proposes that a number of high-value patents should be industrialized by 2025, while the rate of patent industrialization in universities and R&D institutions will have increased significantly. The turnover of technology contracts involving patents nationwide is expected to reach 800 billion RMB, and the output value of certified patent-intensive products should exceed one trillion RMB. 

"Through the implementation of a three-year special action, we aim to solve problems in patent transformation through improving patent quality and strengthening policy incentives, so as to enhance the efficient use of patents and better help high-quality economic development," said Shen Changyu, commissioner of China National Intellectual Property Administration during a recent press briefing in Beijing.

Data shows that a total of 1.6 million invention patents had been granted in core industries of China's digital economy by 2022, accounting for 38 percent of the total amount of invention patents, which provided strong support for the digital transformation and upgrading of industries.

According to the plan, it is necessary to sort out and revitalize the stock of patents in universities and scientific research institutions, advance the growth of small- and medium-sized enterprises through patent industrialization, strengthen the efficiency of intellectual property (IP) application in key industries, and cultivate and promote patent-intensive products.

It also calls for the building of a high-standard IP market system and a unified and standardized IP trading system, as well as promoting diversified financial support for IP development.

Du Mo, head of regulations at China National Financial Supervision and Administration, said the Administration will continue to improve the IP pledge financing policy system, support banks to provide loans for the R&D of intangible assets such as patents, and expand the paperless processing of pledge registration.

In deepening international cooperation on IP, the plan proposed to promote patent sharing and applications in the Belt and Road Initiative partners and BRICS countries, and encourage opening up IP rights of green technology internationally.

According to Shen, China has set up IP cooperation relations with more than 80 countries and regions and international organizations, and established the Patent Prosecution Highway (PPH) with 32 countries, which effectively promoted IP international cooperation and exchanges.