China's IPO awards show patents mean profits
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China's industries on Saturday once again realized the value of innovation when 15 patent-holders were honored for outstanding patent inventions.
The prize winners were named at the 12th awards ceremony sponsored by the State Intellectual Property Office (SIPO) and the World Intellectual Property Organization (WIPO).
The winners included Huawei Technologies, China's leading telecommunications equipment maker, for innovations in data transfer, and the Sany Group, a major heavy construction equipment producer, for energy-saving developments for concrete pumps.
Daya Bay Nuclear Power Operations and Management Co., Ltd. won a prize for its control system of nuclear power units.
Other winners included China Petroleum and Chemical Corporation, the Xi'an-based China IWNCOMM Co., Ltd, a leading company in network security technology, and Tencent, one of China's largest internet service portals.
By the end of last year, the exploitation of the 15 patents had helped their owners, including companies, research institutes and colleges, increase profits by 16.8 billion yuan (2.5 billion U.S. dollars), according to the SIPO.
Another 181 patents were awarded prizes for excellent scientific and technological innovation.
Since the award was established in 1989, a total of 160 patents have won the top prize and another 1,178 patents received excellence awards.
"This award plays an important role in enhancing China's innovation capability," Tian Lipu, director of the SIPO, said. It also set a good example in the nationwide campaign to protect intellectual property.
According to a national development strategy plan released Thursday by the SIPO, China will reach a "comparatively high" level in terms of patent creations, commercialization, protection and management by 2020.
The country is also aspiring to have a group of core patents for emerging industries and key technologies in traditional industries within the next 10 years, with patent applications from large industrial companies accounting for 10 percent of the total.
According to the SIPO, last year, while patent applications declined in most countries amid the global economic downturn, China approved 582,000 out of 977,000 patent applications, up 41.2 percent and 17.9 percent respectively.
By the end of last year, of 1.52 million patents registered in China, 1.19 million were domestic. China had the world's fifth highest number of total patent applications.
A Thomson Reuters analysis of intellectual property earlier this month showed China was expected to lead in global patent activities by 2011, with significant rises in both the quality and quantity of patents.
By 2009, China had more than 700 patent agencies and some 6,000 patent agency workers.
