Recently, the State Administration of Foreign Exchange of P.R. China (SAFE) released the balance of payments data of 2018. It’s reported that China’s IP import reached 236 billion yuan (US$35.8 billion), up 24.74%, which is the highest year-on-year growth rate in the past decade. In addition, China’s patent exports amounted to 36.8 billion yuan (US$5.6 billion), up 16.67%. The trade deficit was $30.2 billion, up 26%.

The balance of payments has included the import and export of IP royalty since 1997, which increased by an average of 22% annually. At present, China has become the 4^th largest patent importer in the world. According to the International Monetary Fund, in the first three quarters of 2018, China ranked 3^rd with $27.7 billion in patent royalty imports; and, according to SAFE, China's patent royalty exports is ranked 11^th in the world.

(Source: www.laoyaoba.com)