China Ranks 14th in Latest Global Innovation Index 2020
Updated: 9 09,2020 Source:China IP News

China maintained its 14th place ranking in the Global Innovation Index 2020 (GII) released by the World Intellectual Property Organization (WIPO) on September 2, Beijing time, while holding elite positions in some categories. According to GII, China remains the only middle-income economy in the top 30.

In terms of two core indicators in innovation input and innovation output, China's performance this year was as good as last year. With a 26th-ranked innovation input, China has generated a 6th-ranked innovation output, making it on par with high-income economies such as the Netherlands, the United Kingdom, and the United States.

With respect to IP indicators such as patent, trademark, and industrial design, China continues to maintain its leading position in the world and ranks among the top three in productivity growth and creative product exports. Concerning global brand value indicators, China's ranking exceeded expectations, ranking 17th. Among the world's 5,000 leading brands, 408 are from China and nine of them are among the top 25 in the world.

It is worth noting that China's innovation quality among middle-income economies has remained the first for eight consecutive years. In terms of the quality of higher education institutions, China ranks third, with Tsinghua University, Peking University and Fudan University among the top 50 universities in the world. Among the world's top technology clusters, 17 are located in China.

At present, the global novel coronavirus outbreak is still very severe, leading to the stagnation of the global economy and affecting innovation investment. The GII report believes that all parties should take actions to promote innovation as the anti-epidemic shifts to recovery. WIPO Director General Francis Gurry said that the rapid, worldwide spread of the coronavirus requires fresh thinking to ensure a shared victory over this quintessential global challenge. Even as we all grapple with the immediate human and economic effects of the COVID-19 pandemic, governments need to ensure that rescue packages are future oriented and support the individuals, research institutes, companies and others with innovative and collaborative new ideas for the post-COVID era.

Industry analysts believe that China's 14th berth in the GII for two consecutive years exhibits the country's important achievements in supporting high-quality development with innovation, reflecting the marked results after China's incessant efforts in improving its IP system, which will in turn uplift the world's confidence in China.