The Geneva-based World Intellectual Property Organization (WIPO) has just released its 2014 report. It shows that 2014 saw the largest increase in the number of international patent applications from China, and that Chinese innovation in the field of intellectual property has become the most important driver in the growth of international patent applications. Experts believe that China's outstanding performance proves the global competitiveness of Chinese business.

In 2014, a total of 215,000 patent applications were filed under the "Patent Cooperation Treaty" of the WIPO, an increase of 4.5 percent over the previous year. China became the largest contributor with for 25,539 applications, almost 20% up on 2013. It was the only country to achieve a double-digit increase.

WIPO's PCT system is an international agreement aimed to help applicants obtain patent protection in multiple countries. 148 countries have joined the system – China subscribed in 1994.

WIPO chief economist Carl Fink told reporters from People's Daily that China's outstanding performance last year reflected the growth of China's overall economy and the continuous improvement of its capacity for innovation.

China has become the world's second largest investor in R&D, surpassed only by the US, while the development of China's economy continues to have a positive impact on China business and its capacity for innovation, according to Fink.

In 2014, three telecommunications companies from China and the US topped the list in WIPO patent applications. China's Huawei surpassed Japan's Panasonic with 3,442 applications to become the NO.1 applicant, followed by the US Qualcomm (2,409 applications), and China's ZTE (2,179 applications).

Another four Chinese enterprises entered the top 50. Huawei and Tencent boasted the largest growth. Fink's view is that this indicates that a growing number of Chinese companies are becoming involved in the competition to innovate on a global scale.