Shanghai hailed for its thriving businesses, IP activity at forum

Shanghai has grown into a globally known hub for science and technology, and is continuously ramping up efforts in the protection, innovation and creativity of intellectual property, officials and business leaders said on Wednesday at the 21st Shanghai International Intellectual Property Forum in Shanghai.

Daren Tang, director general of the World Intellectual Property Organization, noted that Shanghai has become known worldwide for its advanced industries and thriving business environment. The city is now home to more than 24,000 enterprises in critical sectors including artificial intelligence, biomedicine and chips, and houses nearly 40 unicorn firms and billion-dollar startups, the sixth highest total in the world.

Owning such achievements to the city's "top-class financial sector, world-class infrastructure, exceptional talent as well as sharp and sustained focus on research and development", Tang highlighted Shanghai's commitment and visible efforts to foster IP innovation and creativity for economic growth.