(Yicai Global) July 12 -- Chinese small and medium-sized businesses won the most awards for the impact of their intellectual property rights on the world out of any other member country of the World Intellectual Property Organization at an award ceremony held in Switzerland yesterday.

Shanghai Westwell Technology, which develops multi-scenario smart and green logistics solutions, and Xi'an KissFuture Network Technology, which provides digital solutions to cinemas and other kinds of entertainment firms, were recognized for their IP contributions to the world at the 2023 World Intellectual Property Organization Global Awards for SMEs.

The five other winners of the World Intellectual Property Organization’s new WIPO awards introduced last year, come from France, Kenya, Mexico, Singapore and Slovenia. The Geneva-based organization received 548 applications from 58 countries from a wide range of fields including creative, food, green energy tech and health.

China is shifting to becoming a large IP creator from a big IP importer as the country transitions to improving the quality of its products from pursuing quantity.

There were a record number of global IP applications for patents, trademarks and design in 2021 at 3.4 million, almost half of which were handled by the China National Intellectual Property Administration, according to the organization’s World Intellectual Property Indicators 2022 report.

China overtook the US in 2021 to become the country with the most approved patents at 3.6 million. That year, global approved patents climbed 4.2 percent to 16.5 million pieces.

Editors: Shi Yi, Kim Taylor