Ministry of Commerce: China paid $35.6 billion in intellectual property royalties last year

According to China.com on June 2, Vice Minister of Commerce Wang Shouwen said that China has done a lot of work in intellectual property protection and has become an increasingly important intellectual property power.

While inventing and creating our own products, China has also traded intellectual property rights with other countries. We purchase intellectual property rights from other countries and also export intellectual property rights to other countries. Last year, China paid $35.6 billion in royalties for intellectual property rights. Among them, we paid $8.64 billion in royalties to the United States, accounting for nearly a quarter of the total amount of intellectual property rights we purchased.

It is reported that by the end of 2018, my country had a total of 1.602 million invention patents, covering 31 provinces, autonomous regions and municipalities across the country, with an average of 11.5 invention patents per 10,000 people. The number of valid trademark registrations in my country was 19.564 million, with an average of one valid trademark for every 5.8 market entities. my country has truly become a major intellectual property power.