China maintains its leadership in the global economy

Geneva: China remains the only middle-income economy among the world’s top 30 innovative economies as it cements its position as a global innovation leader and is nearing the top ten, according to a report issued by the World Intellectual Property Organization (WIPO) on Monday.

WIPO’s “Global Innovation Index (GII) 2021” shows that China has made steady progress from 14th place last year to 12th this year and is now “knocking on the door of the GII top 10″, underscoring the continued importance of government policy and incentives to stimulate it . cooperation.”.

Since 2013, China has consistently and steadily risen in the GII rankings and established itself as a global leader in innovation.

According to the Global Innovation Index, the number of Chinese patents by origin, measured in GDP, is higher than that of Japan, Germany and the United States, and even more impressive in absolute terms. The same applies to the number of brands and industrial models by origin as a percentage of GDP.

Geographically, the top 10 innovation clusters remain the same as last year with only minor shifts. Shenzhen, Hong Kong, Guangzhou and Beijing were second and third, respectively, after the Tokyo and Yokohama group in Japan. Shanghai is in eighth place. Among the 100 largest groups, China has 19.

The Global Innovation Index, published annually, provides measures of performance and ranks 132 economies in their innovation systems. As in recent years, Switzerland, Sweden, the United States and the United Kingdom remain at the forefront of the innovation ranking. The top 10 countries in the Global Innovation Index include South Korea, the Netherlands, Finland, Singapore, Denmark and Germany.

According to WIPO Director General Darren Tang, “Despite the massive impact of the COVID-19 pandemic… many sectors have shown remarkable resilience, particularly those that have embraced digitalization, technology and innovation.”

“As the world attempts to recover from the pandemic, we know that innovation is integral to overcoming the common challenges we face and building a better future,” he said.