Asia’s IPR heft ‘benefits world’

Asia has become a global powerhouse of innovation and intellectual property rights, giving a strong boost to the world economy, the head of the China National Intellectual Property Administration said at the Boao Forum on April 20.

At a sub-forum titled “Intellectual Property in Asia: Trends and Opportunities”, Shen Changyu said IPR, as a strategic resource for national development and enhancing international competitiveness, plays an important role in today’s world.

Li Baodong, secretary-general of the Boao Forum, said innovation and IPR protection are important for sci-tech progress, industrial upgrading and sustainable development.

According to the World Intellectual Property Organization, some 2.2 million patent applications were received in Asia in 2020, with China accounting for 68.6 percent of all applications filed in the region.