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Chinese patents 'in sharp rise' | Chinese patents 'in sharp rise' |
(about 3 hours later) | |
China has seen a sharp increase in requests for patents, according to the UN's intellectual property agency. | China has seen a sharp increase in requests for patents, according to the UN's intellectual property agency. |
The number of requests for patents in China grew by 33% in 2005 compared to the previous year. | The number of requests for patents in China grew by 33% in 2005 compared to the previous year. |
That gives it the world's third highest number behind Japan and the United States, the agency said. | That gives it the world's third highest number behind Japan and the United States, the agency said. |
China's leaders have been urging companies to become more creative, and put more of their money into developing new technology. | China's leaders have been urging companies to become more creative, and put more of their money into developing new technology. |
Backing innovation | Backing innovation |
China has established itself as the heart of the world economy but it is not the brains. | China has established itself as the heart of the world economy but it is not the brains. |
Most of the products it produces are invented and designed elsewhere. | Most of the products it produces are invented and designed elsewhere. |
So the profit that China makes on every laptop or DVD player it produces is very small. Cheap labour and huge volumes are what drive profits in China. | So the profit that China makes on every laptop or DVD player it produces is very small. Cheap labour and huge volumes are what drive profits in China. |
China's push for innovation | |
But that may be changing. China appears to be becoming more creative. | But that may be changing. China appears to be becoming more creative. |
The country filed over 170,000 patents in 2005, up by a third on the year before, according to the World Intellectual Property Agency. | The country filed over 170,000 patents in 2005, up by a third on the year before, according to the World Intellectual Property Agency. |
The survey is a good indication of innovation. | The survey is a good indication of innovation. |
So that is good news for China's leadership, who have been encouraging companies to invest in research and development. | So that is good news for China's leadership, who have been encouraging companies to invest in research and development. |
China knows it cannot bet its future economic success on low wages alone. Other countries are already cheaper. | China knows it cannot bet its future economic success on low wages alone. Other countries are already cheaper. |
"Made by China" rather than simply "Made in China" will mean that the country's economic miracle stands a far better chance of lasting longer. | "Made by China" rather than simply "Made in China" will mean that the country's economic miracle stands a far better chance of lasting longer. |