, General news

Global Innovation Index 2018: China breaks into Top 20

China was for the first time ranked as one of the world’s 20 most innovative countries as WIPO (World Intellectual Property Organisation) Cornell University and INSEAD published their Global Innovation Index 2018 today.

Switzerland remains in the number one spot as the world’s most innovative country, closely followed by the Netherlands, Sweden, United Kingdom, Singapore, the US, Finland, Denmark, Germany and Ireland. The Top 10 list consists of the same countries as in 2017, but in a slightly different order. Whereas Switzerland, the Netherlands, the UK and Singapore have climbed the rankings this year, the Nordic countries and the US are ranked further down. Germany and Ireland remain in the same places.

China is ranked as number 17 in the 2018 Top 20 list.

Ai-Leen Lim, CEO and Principal Counsel of AWA Asia, said:

"China’s inclusion reinforces the developments the business community have witnessed on the ground here over the past year. In particular, the government has stepped up its efforts to allow for effective protection and enforcement of IP rights in accordance with the law – not only to please or appease foreign investors, but also for benefit of domestic companies as they grow in stature and relevance on the world stage.

"China is no longer satisfied being the factory of the world, it seeks to be a place that supports and originates innovation. Today China is the second largest economy in the world, just after the US. This Index Ranking showcases how far China has come in establishing itself as an economic superpower to be reckoned with."

The Global Innovation Index ranks 126 economies based on 80 indicators, ranging from intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.

To view the full report, please visit WIPO's website.