Patent office set up in Lhasa

China’s National Intellectual Property Administration has set up a patent office in Lhasa, capital city of Tibet autonomous region. The office has begun business since July 29. Approved in 2017, it is the 34th patent office set up by the administration across the country. The launch of the Lhasa patent office will help strengthen cooperation and communication between the industry watchdog and the local government, said a statement released by the CNIPA. In addition, it will optimize the local intellectual property environment, improve patent application services and stimulate creativity and vitality of local enterprises.

Palace Museum Partners with Miniso

The Palace Museum’s IP unit recently collaborated with Miniso Corp, a low-cost retailer and variety store chain, to offer Chinese consumers products themed with one of the country’s most valuable cultural heritages. Miniso’s new product line includes more than 100 items in ten categories including fragrances, notebooks, water bottles and mobile phone designed with colors and patterns provided by the Place Museum. This collaboration with Miniso is a new initiative for the Palace Museum to get young consumers involved designing and producing products relevant to their daily lives.

China Has Overtaken US in Number of Companies on Fortune Global 500 list

Chinese corporations are rising rapidly in the global economy, with China overtaking the United States for the first time in the number of companies ranked on the Fortune Global 500 list. The list, released on July 22, includes 129 Chinese enterprises, compared with 121 for the US. Chinese businesses have not only grown in scale, but their technological prowess and improving balance sheets are reshaping the global business landscape, according to experts. The emergence of large companies has been one pillar driving the country toward a sustainable growth path, and this has put China well ahead of other emerging economies. Chinese companies also excel in innovation. Chinese technological powerhouses are making strides. Huawei moved up to 61 from last year’s 72. Among the 10 companies that have the biggest jumps in rankings, six come from China, including tech titans Alibaba Group, which was up 118 spots to 182, as well as Tencent, which moved up 94 places to 237.