The Guangdong-Hong Kong-Macao Greater Bay Area possesses the most innovation patents compared to the other three bay areas in the world, namely Tokyo, New York, and San Francisco bay areas, according to a report released on Nov 21 by the Guangzhou Daily Data and Digital Institute.
The report, first released in 2017 and themed on collaborative innovation development in the Greater Bay Area, showcases the comprehensive innovation capability of the area and the efforts of turning the area into a world first-class bay area.
The number of innovation patents is an important indicator of the innovation capability of a country or a region. In 2018, the number of innovation patents in the Greater Bay Area climbed to 330,832 from 103,610 in 2014, up 219.3 percent, and the number is 8.64 times of that of the New York Bay Area, six times of the San Francisco Bay Area, and 2.35 times of the Tokyo Bay area.
Areas on the west side of the Pearl River around Guangzhou have witnessed a huge growth in the number of innovation patents, as its annual growth rate in the past five years has reached 51.23 percent.
With the development of industries like electronic information technology and communication technology, the Greater Bay Area's innovation patents mainly involve electricity and physics, each accounting for 30.17 percent and 25.39 percent of the total number.
In 2018, the total number of patent filings through the Patent Cooperation Treaty amounted to 27,800, second only to the Tokyo Bay Area which was 29,800. However, the growth rate of the Guangdong-Hong Kong-Macao Greater Bay Area was higher than the other three bay areas, which was 30.05 percent.
Guangzhou, located on the west side of the Pearl River, has showcased its strong power in higher education and medicine.
