China climbed from the 17th to 14th position in the world for economic innovation in a new list of 129 nations. The Global Innovation Index 2019 released by the World Intellectual Property Organization (WIPO), one of its co-sponsors, says “innovation is blossoming around the world” despite an economic slowdown and high economic uncertainty. According to the report, China’s continuing rise firmly establishes the country “in the group of leading innovative nations.” “China’s innovation strengths become evident in numerous areas: it maintains top ranks in patents by origin, industrial designs, and trademarks by origin as well as high-tech net exports and creative goods exports,” the report said.

Switzerland remains No 1 – a position it has held since 2011 – followed by Sweden, the United States, the Netherlands and Britain. The United States fell from fourth place in the 2017 rankings to sixth in 2018. South Korea edged closer to the top 10 at No 11, up from No 12. Now in its 12th edition, the index ranks 129 economies based on 80 indicators, from traditional measurements like research and development (R&D) investments and international patent and trademark applications, to newer indicators including mobile phone app creation and high-tech exports. When comparing levels of innovation to economic development, the report said India, Vietnam, Kenya and Moldova “stand out for outperforming on innovation relative to GDP for the ninth consecutive year – a record.”

The index is sponsored by the WIPO, Cornell University’s SC Johnson College of Business and the business school INSEAD.