A staff member displays a set of VR-powered omnidirectional treadmill at an exhibition during the Global Digital Economy Conference 2023 at the China National Convention Center in Beijing, on July 4, 2023. [Photo/Xinhua]

BEIJING -- The number of high-value invention patents held on the Chinese mainland had exceeded 1.66 million by the end of 2023, marking an increase of 25.7 percent year on year, according to the latest data revealed by the China National Intellectual Property Administration.

The average ownership of high-value invention patents had risen to 11.8 patents per 10,000 people by the end of last year.

The administration also highlighted growth in key sectors, saying that by the end of 2023, the number of effective high-value invention patents acquired in strategic emerging industries had reached 1.17 million, up 22.5 percent from the previous year and accounting for 70 percent of the total.

The rise in patents bolsters enterprises. The administration said the number of effective invention patents that enterprises could use as pledges to secure more funding rose 37.4 percent year on year to 104,000.