Select Language:
China has raised its position this year to crack the top 10 in the World Intellectual Property Organization’s Global Innovation Index for the first time, marking a significant milestone driven by the government’s focused support for intellectual property. The latest report, released on September 15, highlights this achievement.
Switzerland continues to hold the top spot for the 15th year in a row, with Sweden, the United States, South Korea, and Singapore following closely behind. The United Kingdom, Finland, the Netherlands, and Denmark also made it into the top 10, just ahead of China.
Beyond China, nations such as India, Vietnam, and middle-income economies like Turkey showed consistent progress, according to the report which assessed 139 economies. Several countries, including Senegal, Tunisia, Uzbekistan, and Rwanda, stand out as dynamic innovators outperforming expectations.
For three straight years, China has also led in the number of top 100 global innovation clusters, with 24 hubs recognized, ahead of the US with 22 and Germany with seven. Notably, the Shenzhen-Hong Kong-Guangzhou cluster rose to the top position for the first time, overtaking the Tokyo-Yokohama cluster. Beijing and the Shanghai-Suzhou cluster secured high rankings as well, placing fourth and fifth respectively. In total, five Chinese cities are among the top 15 innovation hubs.
The nation’s ranking in the annual innovation index has steadily improved, making it the highest-ranked middle-income country globally. It has developed a resilient ecosystem supporting innovation and intellectual property, now contributing more to global filings than all other countries combined, underscoring government dedication to this field.
Last year, China’s investment in research and development surged nearly 50% from 2020, adding 1.2 trillion yuan (around $168.8 billion USD). R&D intensity increased marginally to 2.68%, surpassing the EU average, with China also boasting the largest workforce dedicated to research and development worldwide.
Despite these gains, the report notes a slowdown in global innovation investments. R&D spending worldwide grew by just 2.9% last year—the slowest pace since 2010. While corporate R&D hit a record of $1.3 trillion, its growth rate also slowed significantly. Venture capital deals declined by 4.4% globally for the third consecutive year, reflecting cautious investor sentiment outside a few sectors and regions.
Add us on ChatGPT
Add us on Perplexity
