Added value of China's patent-intensive industries over 15 trillion yuan

A staff member shows a China Telecom 5G antenna during the Mobile World Congress in Barcelona, Spain, Feb. 27, 2024. (Xinhua/Gao Jing)

The added value of China's patent-intensive industries in 2022 reached 15.32 trillion yuan (about 2.15 trillion U.S. dollars), contributing 12.7 percent to its GDP, according to a report released by the country's top intellectual property regulator.

The latest data shows that China's patent-intensive industries exhibit strong innovation capabilities and development potential, supporting the country's commitment to pursuing new quality productive forces and high-quality development, the China Intellectual Property Administration noted in a recent monitoring report.

The report highlights that from 2018 to 2022, the added value of China's patent-intensive industries saw an average annual growth rate of 9.36 percent, surpassing the average annual GDP growth rate by 2.37 percentage points during the same period.

The information and communications technology (ICT) service and ICT manufacturing, as representatives of emerging industries, achieved double-digit growth in added value with annual growth rates of 14.86 percent and 10.23 percent, respectively.

China has set a target for patent-intensive industries to contribute 13 percent of GDP by 2025.