The total number of patents granted by the United States to Chinese companies grew by a significant percentage in 2019. Thus, recording a notable growth among the prominent global economies.
According to the annual report released on Tuesday by IFI Claims, a New Havens-based patent firm, the US granted 34% additional patents to Chinese mainland companies last year. When you put this into perspective, the US granted 333,530 patents to Chinese mainland companies in 2019, a 15% increase from the previous year.
Among the hundred thousand patents filed, Chinese mainland companies filed for 16,900 patents, an increase from 12,599 back in 2018. Patents by US companies stood next in line at 15.95%, the second-fastest growth recorded this year. According to senior analyst Larry Cady of IFI Claims, Chinese companies have recorded the highest volume of patents filed in the past couple of years. The trend has primarily been in the technology sector where China has witnessed some major growth in the recent past.
According to the same survey, US companies hold nearly 49% of the patents granted last year, closely followed by Japan and South Korea. The recent growth spurt saw China climb by 5% to the 4th spot, pushing Germany down to 5th for the first time. Two Chinese conglomerates made it to the list of top 15 companies last year. While Huawei gained six positions to enter the top 10, BOE Technologies climbed up the charts to reach position 13.
According to Cady, the Chinese companies are hopeful of the United States lifting the ban on conducting business with US enterprises. Hence, recording the spurt in filing a patent. Another prominent name in the Top 10 list of companies is CRISPR technologies. It is known for creating hybrid plants, vehicle dashboards, medicinal preparations in the field of cancer treatment, and 3D printing.
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