by Xinhua writer Yuan Quan
BEIJING, March 21 (Xinhua) — The decline in global patent filings has raised concerns about potential stagnation in worldwide innovation. China’s performance, however, can provide some reassurance.
According to the World Intellectual Property Organization, in 2023 China remained the top source with 69,610 international patent filings, slipping 0.6 percent from a year earlier, the first drop since 2002. The total number of patent filings worldwide experienced a 1.8 percent decline, with many other leading countries in intellectual property (IP) also observing decreases last year.
The temporary dip caused some economists to speculate about an innovation crunch. However, there may be a different perspective when examining China’s case.
The slight fall in China’s patent submissions indicates a shift within the country’s IP sector from expanding in…
