China builds world-class business environment with IPR protection

China is building a world-class business environment by protecting intellectual property rights, or IPR, and has made a series of achievements which are being recognized both at home and by the international community.

"China is embracing the world and moving into the future with a more open attitude. Strengthening IPR protection is an important part of creating a healthy business environment and a major step toward increasing high-level opening-up," said Shen Changyu, commissioner of the China National Intellectual Property Administration (CNIPA), during the 16th Shanghai International Intellectual Property Forum held from Oct 21 to 22.

According to Shen, CNIPA has been making progress in ensuring the protection of the legitimate rights and interests of foreign-funded enterprises, and improving the quality and efficiency of IP examination and the punitive compensation system.

Official data shows that China's IP examination efficiency is among the highest in the world, with the examination cycle for invention patents remaining at about 22.5 months, the time required for high-value patents falling to 20.1 months, and the average trademark registration requiring less than 5 months.

In the Global Innovation Index 2019, released by the World Intellectual Property Organization in July, China surged to 14th place, three places higher than in 2018. The country has become a leader among the world's middle-income economies.

Also, China's ranking in the World Bank Group's Doing Business 2020 study climbed to 31st in terms of ease of doing business, up from 46th in 2019.