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China tops global invention patent applications in 2023: WIPO report

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China tops global invention patent applications in 2023: WIPO report

2024-11-07 21:27 Last Updated At:11-08 00:47

China tops the 2023 list of global invention patent applications which hit a record-breaking 3.5 million filings, said a World Intellectual Property Organization (WIPO) report released on Thursday.

The World Intellectual Property Indicators 2023 highlight a fourth consecutive year of growth in global invention patent applications, despite economic challenges.

China led with 1.64 million applications in 2023, followed by the U.S., Japan, South Korea, and Germany.

Computer technology dominated patent filings globally, accounting for 12.4 percent of the total applications, with electrical machinery, measurement, medical technology, and digital communication also ranking high.

In addition to invention patents, Chinese applicants led in industrial design applications with 882,807 filings in 2023, followed by the U.S., Germany, Italy, and South Korea. The five countries collectively accounted for nearly 75 percent of global design applications in 2023. The growing Chinese application volume has helped boost the top five origins' share by 3.6 percent over the past decade.

The report also said that China was the most active in plant variety applications, filing more than 15,000 of the world's over 29,000 submissions, representing over half of global activity.

China also had the most registered geographical indications within its territory in 2023, it said.

China tops global invention patent applications in 2023: WIPO report

China tops global invention patent applications in 2023: WIPO report

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Macao celebrates completion of prototype digital currency

2024-12-12 22:52 Last Updated At:12-13 00:17

China's Macao Special Administrative Region (SAR) on Thursday held a ceremony to celebrate the completion of its e-MOP prototype digital currency and the publication of a white paper on the new digital currency. The e-MOP digital currency, supported by the People's Bank of China (PBOC), lays the necessary foundation for the future development of the digital Macao pataca.

As legal tender in Macao, e-MOP will have the same legal status and value as paper money and coins. It will also be interoperable with existing electronic payment systems in Macao, enabling connectivity between e-MOP wallets, bank accounts and other digital wallets. This will create a more efficient and cost-effective transaction environment.

The white paper released on Thursday presents a clear blueprint for the future development of e-MOP.

Macao celebrates completion of prototype digital currency

Macao celebrates completion of prototype digital currency

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