China Issues Plan To Develop Intellectual Property

China's State Council has issued a plan to strengthen the protection and utilization of intellectual property rights during the 13th Five-Year Plan (2016-2020).

By 2020, China's invention patent ownership will increase from 6.3 per 10,000 people in 2015 to 12 in 10,000, and international applications will double to 60,000 from 30,000 in 2015, according to the plan.

In the meantime, intellectual property royalties earned abroad will rise from 4.44 billion U.S. dollars in 2015 to 10 billion U.S. dollars in 2020.

The plan puts forward seven major tasks for the development of intellectual property, such as improving the legal system, strengthening protection, improving quality and benefits, promoting industrial upgrading, and promoting international cooperation and exchanges.