The China National Intellectual Property Administration conducted an initiative in Zhejiang on March 19 to enhance the utilization and commercialization of patents held by universities and scientific research institutions.

As part of this initiative, Zhejiang undertook a comprehensive assessment of 46,000 patents owned by its universities and research institutes, with an overall assessment rate of 50.4 percent and accounting for 35.7 percent of the total patents assessed in the country as of March 18.

In January this year, the China National Intellectual Property Administration, together with eight departments, launched a work plan aimed at improving the management and utilization of existing patents held by universities and institutions.

To date, 11 universities and research institutes in the province, including Ningbo University, have completed their patent assessment, making the province the national leader in this regard. 

Currently, Zhejiang's patent transformation resource library covers 13,790 high-value patents.