WEDZ ranks 2nd in corporate invention patent growth

The Wuhan Economic & Technological Development Zone (WEDZ) reported 2,425 more authorized invention patents, of which 2,312 are patents owned by enterprises, ranking second in Wuhan, Central China's Hubei province.

The number of authorized patents, invention patents and patent ownership per 10,000 people are comprehensive indexes to evaluate a region's sci-tech output and market application. In recent years, WEDZ's efforts in intellectual property rights (IPR) creation, protection and application have also been recognized within the city.

In 2022, the zone created funds amounting to 65 million yuan ($9.54 million) for IP pledge financing, making its total scale reach 380 million yuan.

So far, the zone has registered 6,452 valid invention patents, up 50.78 percent year-on-year. Among them, 1,691 are recorded as high-value patents.