China's Patent Applications Set Record, Almost Equal US, Japan and South Korea Combined
Yicai Global
/SOURCE : Yicai
China's Patent Applications Set Record, Almost Equal US, Japan and South Korea Combined

(Yicai Global) Nov. 25 -- The number of patent applications in China last year exceeded one million for the first time, setting a world record, the World Intellectual Property Organization said in Geneva on Nov. 23. Last year's patent applications in China almost equalling those of the US, Japan and South Korea combined.

According to the report, innovators around the world submitted applications for about 2.9 million patents, up 7.8 percent from 2014, marking the six straight year of growth.

China's State Intellectual Property Office received more than 1.1 million applications, almost equal to all the patents applied for in the US, Japan and South Korea together, which respectively ranked second, third and fourth. There were 589,000 patent applications in the US, followed by Japan and South Korea, which had 318,000 and 213,000 each.

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