Value of IP-intensive industries highlighted

The added value of China's patent-intensive industries topped 10.7 trillion yuan ($1.51 trillion) in 2018, contributing 11.6 percent to the country's GDP, according to the National Intellectual Property Administration.

Working with the National Bureau of Statistics, NIPA said it was the first time the country announced the statistic. It also marks the establishment of an accounting and release mechanism of the patent-intensive industries' added value in China.

China's patent-intensive industries are divided into seven categories according to their economic activities, NIPA said.

The new equipment manufacturing sector ranked first, accounting for 30.7 percent of the country's patent-intensive industries' added value in 2018. It was followed by the information and communication technology manufacturing sector, which accounted for 20.1 percent, and the ICT service industry, which stood at 18.2 percent.

The rest were new material manufacturing industries, pharmaceuticals and medical services, R&D, design and technical services, and environmental protection.

The data are based on the system of statistical classification of IP-intensive industries in 2019. Using the results of the fourth national economic census, the release aims to reflect the development of the country's patent-intensive industries, said an official of the planning and development department at NIPA.

Amid the latest round of technological and industrial revolution, IP is playing an increasingly important role in spurring economic growth, the official said.

Research from the United States and the European Union showed that the IP-intensive industries are key to driving economic growth and maintaining competition. Future economic and social development will mostly rely on such sectors, he noted.

NIPA said it has put the development of IP-intensive industries high on its agenda. The release implies that the industries provide key support for China's economic growth and a strong impetus to boost high-quality development in the economy.

NIPA will continually improve the release mechanism of patent-intensive industry statistics and announce data annually. It is part of efforts to reflect the development of emerging industries and provide a reference for the government's policymaking, the official said.