China ranked the 12th globally, in the 2021 Global Innovation Index (GII), two places from the ranking in 2020, according to the index report released recently by the World Intellectual Property Organisation (WIPO).
The Securities Daily Wednesday reported that this was the ninth consecutive year for China to see a steady rise in such ranking.
According to the report, Switzerland topped the list for the 11th consecutive year, followed by Sweden, the U.S., UK, the Republic of Korea, and China ranked first among middle-income economies, overtaking developed economies such as Japan, Israel and Canada.
In terms of innovation input, China leads the world in trade, competition and market size, knowledge workers, two major indicators of the index, ranked high in sub-indicators like size of domestic market, proportion of companies providing formal training, diversification of domestic industries, development of industrial clusters.
The report indicated that China had taken more measures to promote cooperation between enterprises, universities and research institutes, develop industries with distinctive features, improve the real economy, creating a better environment for enterprises to pursue innovative development.
From the perspective of innovation output, the report noted, China’s advantages were concentrated in intangible assets, knowledge creation and knowledge influence, with domestic patent and trademark applications, share of creative products export in the total trade and other sub-indicators leading the world.
The report said that In 2021, China made significant progress in the major indicator of knowledge dissemination, especially in the sub-indicator of the proportion of intellectual property income in the total trade which showed that the country was gradually transforming from a major importer to a major producer of intellectual property rights.