Intellectual property (IP) is a strategic resource for national development and a core element of international competitiveness. The 20th CPC Central Committee's Fourth Plenary Session called for stronger IP protection and more effective application. The State Council issued the Patent Conversion and Application Special Action Plan (2023-25), which focused on patent industrialization and promoted small and medium-sized enterprises (SMEs).
Significance of IP transformation
Shen Changyu, commissioner of the National Intellectual Property Administration (CNIPA), explained that IP transformation connects innovation with market applications. It serves as a bridge between scientific research and practical productivity, driving technological advancements and economic growth. This process is key to achieving high-quality development.
Key measures to promote IP transformation
Shen highlighted efforts to address challenges in IP transformation, such as low industrialization rates in universities and research institutions. The government has implemented policies to support patent industrialization in SMEs and key industries, fostering deeper economic integration.
Results of the patent conversion action
Since 2023, the Patent Conversion and Application Special Action has significantly increased patent transactions. Patent transfers rose by 48 percent, demonstrating the effectiveness of these policies in promoting innovation-driven economic development.
