China to become world’s biggest source of patents

China is on track to become the number one source of international patents within two years, overtaking current leaders — the United States (U.S.) and Japan, the World Intellectual Property Organisation (WIPO) said on Wednesday in Geneva.
The UN patent body said Chinese companies and research institutions filed 43,000 international patents in 2016, nearly 45 per cent more than in 2015.
It added that China posted double-digit patent output for more than a decade, and that the country could rise from the third to the top rank very soon if it maintained current momentum.
“Patent filers in China are making great strides in internationalising their businesses as the country continues its journey from ‘Made in China’ to ‘Created in China”,  WIPO’s Director-General, Francis Gurry, said.
Chinese communication technology maker, ZTE, was the world’s largest single applicant for international patents in 2016, followed by fellow Chinese rival, Huawei Technoligies.