Huawei's patents show value of inventions, ideas from China

At the Innovation and Intellectual Property Forum the company hosted in Shenzhen on Wednesday, it was not difficult to see that Huawei has not only "survived" in the face of all the difficulties, but it has increased its investment in R&D and is consolidating its technology base and building long-term competitiveness.

Its expenditure on R&D was 142.7 billion yuan ($21.28 billion) in 2021, accounting for about 22.4 percent of its annual revenue, second in the world according to the industrial R&D investment rankings of the European Union.
Last year alone, Huawei filed over 3,500 patent applications with the EU Patent Office, and it held more than 110,000 active patents worldwide by the end of that year.

The company also had over 100,000 R&D employees at the end of last year, accounting for roughly 55 percent of its total workforce.

Huawei is just one example of Chinese enterprises' innovation capabilities. Amid global uncertainties, Chinese enterprises have been focusing more on innovation to propel the national economy.

Innovation is doubtlessly the first and most important driving force for development, as well as an effective tool for enterprises to build their core competitiveness. All the leading companies in high-tech sectors have their unique core technologies that enable them to succeed.

Of course, to be an innovation leader, a company must build and retain a strong R&D team and it cannot afford to stand idle or its competitors will overtake it. Innovation is like a relay race, one breakthrough after another. If a company doesn't continue to advance, it will fall back.

Despite the current difficulties in China's economic and social development, the fundamentals of stable and long-term economic growth have not changed, and the country will continue to encourage scientific and technological innovation.

Both domestic and global economists predict that the Chinese economy will continue forward on a healthy, stable track with the new wave of COVID-19 pandemic brought largely under control.

There will be many opportunities, but only those with a prepared mind and good preparations will be able to seize them.