China's achievements in the construction of an intellectual property system since its entry to the World Trade Organization show the country has become a big IP filer and is embarking on a journey toward becoming an IP powerhouse.
Shan Xiaoguang, president of Tongji University School of Law, made the remark in his recently published essay. He will host a forum on IP monetization in the context of economic globalization in a session of the 10th China Intellectual Property Annual Conference scheduled for early September in Hangzhou, Zhejiang province.
According to an official report, IP-intensive industries contributed USD5.06 trillion, or 34.8 percent, to the US GDP in 2010 and produced 40 million jobs, 27.7 percent of the country's total.
From 2008 to 2010, IP-intensive industries in the EU generated EUR 4.7 trillion (USD5.22 trillion) in average annual output value, accounting for 39 percent of GDP in the region and creating about 76 million jobs directly and indirectly.
Similarly, IP-intensive industries have seen rapid growth in China.
A report from China National Intellectual Property Administration found that by the beginning of 2018, the added value of China's patent-intensive industries accounted for 12.4 percent of national GDP and was increasing year by year, Shan said.
Now the fourth industrial revolution is shaking up the world and countries and industries are increasingly interdependent, Shan said that it is more important than ever for China to optimize its IP system to stimulate innovation and technology diffusion.
Source: China Daily
