China leads in patent applications, but lags US and Europe in value added – GLOBAL

China leads in patent applications but lags behind the US and Europe in value added.BEIJING (AA). While China was the country with the highest number of industrial and intellectual property patent applications in 2021, it lagged behind the US and European Union (EU) countries in terms of value added protected by original inventions. patents provide the economy. BEIJING (AA) – China ranked first in the world with over 1.5 million patent applications in 2021, according to the International Intellectual Property Organization (WIPO). The number of applications is three times closer to the nearest competitor, the US, but it is observed that the difference in the number of applications has not yet translated into real economic value. Considering the share of patent-intensive industries in gross domestic product (GDP) and employment, China still lags behind the US and EU countries. According to data provided by China National Intellectual Property Administration (CNIPA), Gi Shu. the size of patent-intensive industries such as computers, electronics, machinery, energy systems, digital communications, audiovisual instruments, medical technology, transportation and aviation reached 14.3 trillion yuan (2.1 billion yuan) in 2021, an increase of 17.9 % compared to the previous year. While the value added created by patent-intensive industries in China was 12.4% of GDP, in the US it was 24%, in the EU it was 17.4%, while in the US it was 6.5%, and in the USA – 13%. and 11 percent in the EU. He noted that China aims to increase the share of value added provided by patents to 13 percent, the 2021 level of the US, by 2025. 952 in 2021. became the company that applied for more patents. It is followed by American chip maker Qualcomm with 3,931 applications and South Korean electronics company Samsung with 3,41 applications. patents are still application-level innovations. He emphasizes that only a few original inventions can turn into cutting-edge technologies.