Patents China Files Record Number of Patents
China is likely to become the world's most busy patent applicant, says a recent report by Thompson Reuters. Nevertheless, international analysts say, the country is still trailing in innovations.
London/United Kingdom, New York/USA – China could well achieve in leading role in global patent activity by 2011, a recent report by Thompson Reuters states. According to their new business study 'Patented in China II: The Present and Future State of Innovation in China', patent filings in China will outpace both the US and Japan in 2011, one year earlier than previously forecasted. According to the study, China experienced an annual growth rate of 26.1 percent in total patent volume from 2003-2009, as compared to its closest rival, the US, with a 5.5 percent growth rate.
Despite this development, the country is still trailing in innovation, analysts say: according to the New York Times, most of the Chinese patent activity is purely domestic, while only 5.6% percent of the country's patents are granted overseas (which is very low compared to the 48.8% and 38.7% of the US and Japan respectively).