Shanghai is well on the way to becoming a global IP highland. [Photo/WeChat account: Shanghai_IPA]

The number of high-value invention patents in Shanghai city in East China was 101,800 last year, a year-on-year increase of 19.64 percent.

They accounted for 50.42 percent of the total number of effective registered invention patents, the city's intellectual property administration reported recently.

Additionally, the number of high-value invention patents per 10,000 people reached 40.9 in 2022, an increase of 6.7 year-on-year.

In terms of applications under the World Intellectual Property Organization's Patent Cooperation Treaty, or PCT international patents, in 2022 the total number of PCT patent applications lodged in Shanghai was 5,591, up 15.76 percent year-on-year. This was a whopping 14.62 percentage points higher than the national average growth during the same period.

Last year, 519 patent and trademark mortgage financing projects were registered in the city, up a massive 173.2 percent. Their registered value was 12.15 billion yuan ($1.78 billion), up 59.2 percent.

There also were 801 cases of IP insurance, up 115.9 percent year-on-year and the amount of insurance was 290 million yuan, up 94.5 percent.

Shanghai's experience in IP mortgage financing was also selected by the Ministry of Commerce as the best practical example among the country's comprehensive pilot and demonstration projects, to expand the opening-up of the service sector in 2022.

Moreover, two local cases were included on the list of the 20 national IP mortgage financing and insurance model cases in 2022.