"They also act as a bridge that facilitates the deep integration of scientific and technological innovation with industrial innovation, and fosters the development of new-quality productive forces," he said.
The administration has strived to advance institutionalized, regular, and long-term patent transformation and utilization, yielding notable results. Moving forward, it will accelerate the establishment of an efficiently coordinated intellectual property supply system, deepen targeted matching between patent supply and demand, boost patent transaction and commercialization, and speed up the realization of patent value, Chen said.
"High-value patents will empower the transformation and upgrading of traditional industries, the growth of emerging industries, and forward-looking planning for future industries," he said.
Tang cited the example of Fluzoparib, a medicine developed in Jiangsu. He said research work began in 2011 and nearly a decade was spent in clinical trials. It was supported by patents internationally protected through WIPO's Patent Cooperation Treaty system.
It became China's first domestically developed PARP inhibitor, a type of cancer treatment, and entered the national insurance catalogue to help cancer patients across the country and around the world.
In this process, IP is critical, he said.
"By registering the patent, it gave the inventors and investors the confidence that their innovation would be protected through the long years of testing and development before it was fully released to the public. It also allowed investors to be confident in providing funding," Tang said.
He added that WIPO will continue to cooperate with China, helping more innovators to transform their creativity into industry, expand new markets and improve people's lives.
