Surge in AI Patents Highlights China’s Digital Economy Boom

Ge Shu from the China Intellectual Property Administration (CIPA) reported a significant rise in AI-related invention patents, highlighting that by the end of 2023, China held 378,000 such patents.

This represents an annual growth rate exceeding 40%, about 1.4 times the global average, reflecting China’s rapid progress in AI technology.

Domestic innovation is also thriving, with 155,000 patents attributed to Chinese companies, up by 31,000 from the previous year. This increase underscores a growing trend in AI creativity and technological advancement. Additionally, China’s attractiveness to international innovators is evident, with active patents from 93 countries and regions, predominantly in digital product manufacturing.

In 2023, China’s core digital economy sectors were granted 406,000 invention patents, making up 45% of the country’s total patent output. Over the past five years, these sectors have experienced an average annual growth rate of 21%, showcasing their fast expansion. Last year, the digital economy’s core industries contributed 10% to China’s GDP.

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Foreign investments in China have also risen, with valid foreign invention patents and registered trademarks reaching 919,000 and 2.13 million by mid-2024, reflecting increases of 3.9% and 3.8% respectively from the previous year. Ge Shu noted that CIPA’s efforts to engage with international businesses and address their concerns have bolstered China’s reputation as a secure investment destination.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.