A new website carrying international patent data unveiled on Feb 25 is expected to promote China's technological innovation and industrial restructuring, especially in key industries, according to Yang Tiejun, vice-commissioner of the State Intellectual Property Office (SIPO).

With a database of more than 33 million patents from around the world, the website carries documentation on 10 industries listed as key sectors in national industrial development.

The website offers information on the latest trends in technological development so companies can better judge industrial growth and changes in markets, Yang said.

Between 90 to 95 percent of the world's inventions each year are patented, so use of the database reduces research time and costs.

Chinese companies with an eye on overseas markets should search patents on the website to avert risks in intellectual property, said Wu Aihe, an official with the State-owned Assets Supervision and Administration Commission (SASAC).

The website was launched by SIPO in cooperation with SASAC and trade associations in the 10 key industries.

(Source: China Daily)