China is reportedly upping its competitive edge in advanced technologies to tackle global warming by making advancements in carbon capture storage (CCS) technologies.
Advanced technologies comprise patents that capture and store carbon dioxide or greenhouse gas (GHG) emissions. According to a Nikkei survey, the country is strengthening its lead in patents related to CCS technologies.
Compared to the US, China reportedly holds three times as many patents related to CCS technologies and leads in clean energy manufacturing, further dominating the decarbonisation of the supply chain.
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According to Nikkei Asia, the number of patents held by Chinese organisations has quadrupled from 2015 to 10,191. The increase in quantity doesn’t mean a compromise in quality.
The quality of patents is high, and China has constantly reduced the quality gap with the quality leader, the US, since 2010. The US has around 3,754 patents, with Exxon Mobil, Air Products and General Electric leading the race.
China is extremely serious about developing decarbonisation technologies to complement its supply chains of EVs and solar panels. In addition, China is rapidly acquiring intellectual property to control the entire supply chain from start to finish.
China has also begun its lead in CCS technology, with speculations and concerns that it will monopolise the decarbonisation field.