China Boosts Support for SMEs Through Patent Industrialization

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China is ramping up its efforts to support small and medium-sized enterprises (SMEs) by prioritizing the industrialization of patents, according to the country’s top intellectual property regulator.

The National Intellectual Property Administration (NIPA) has unveiled a comprehensive plan in collaboration with four government departments, aiming to enhance both intellectual property (IP) awareness and patent industrialization capacities of SMEs by 2025.

As part of the plan, China seeks to cultivate representative enterprises, foster a group of “little giant” firms, and champion enterprises specialising in niche markets with cutting-edge technologies. Additionally, the plan aims to facilitate the listing of qualifying enterprises to bolster their market competitiveness.

A key focus of the initiative is the development of competitive, patent-intensive products to demonstrate the efficacy of patent industrialization in realising patent value and enhancing the economic benefits of enterprises.

By integrating the patent chain into various innovation, industrial, talent, and services chains, the plan aims to facilitate the effective flow and efficient allocation of innovative resources, ultimately driving the rapid development and expansion of enterprises.

Furthermore, the plan emphasises the importance of increasing awareness of public-service IP products and expanding their scope to guide enterprises in leveraging these resources effectively.

To further support SMEs, the government will establish key industry databases to streamline the process of obtaining information, thereby reducing thresholds and costs for SMEs in accessing vital resources.

China’s initiative underscores its commitment to fostering a conducive environment for SMEs to thrive and contribute significantly to the country’s economic growth and innovation landscape.