Research On The Influence Of China’s Patent Box System On Enterprise Innovation Output

"the Central Committee of the Communist Party of China’s Proposal on Formulating the14 th Five-Year Plan for National Economic and Social Development and the Long-term Goals in 2035" clearly points out that "strengthening the protection of intellectual property rights will greatly improve the transformation of scientific and technological achievements".The efficiency and result of intellectual property transformation play a vital role in China’s economic development.At the same time,in order to promote the enterprises’ intellectual property output and transformation in their own countries,European countries have implemented the patent box system of giving preferential tax on intellectual property income.While our two preferential tax policies,namely,"reduction of enterprise income tax for technology transfer" and "preferential income tax rate for high-tech enterprises",belong to the patent box system in essence.Although our "patent box" system was rated as "harmless" in FHTP review in 2020,there are still some places that are not suitable for the development of intellectual property rights,and it is necessary to further improve our "patent box" system.Based on this research background,this paper first clarifies the related concepts of patent box system,the current situation of innovation output,and sorts out the basic contents of patent box system in China.This paper introduces the concept and origin of patent box system,collates the data of our current innovation output mainly from the patents,scientific papers,new product sales revenue and technological market situation.And sorts out the reform process,basic contents and existing problems of our "patent box" system.Secondly,this paper puts forward the research hypothesis that our "patent box" system has an incentive effect on the quantity of enterprise’s innovation output,but not on the quality of innovation output,and constructs a two-way fixed effect model.Then,select the companies in Shanghai stock market from 2010 to 2020 as the research sample,empirically tests the impact of our "patent box" system on enterprise’s innovation output,and further analyzes the impact on enterprises with different property rights and enterprises in different industries.It is found that the quantity of innovation output of enterprises is increasing rapidly,but the quality of innovation output needs to be improved.However,the "patent box" system,which encourages enterprises to innovate and transform,has some problems,such as stricter restrictions,lower requirements for intellectual property quality,and lack of pertinence and innovation orientation.The empirical research results further show that our "patent box" system promotes the quantity of innovation output of enterprises,but it does not promote the quality of innovation output.Among them,the incentive effect on non-state-owned enterprises is greater than that of state-owned enterprises,and the incentive effect on manufacturing enterprises is greater than that of non-manufacturing enterprises.Therefore,this paper combs the regulations of BEPS Action Plan on patent box system,learns from the patent box system in European countries,compares our "patent box" system with that in European countries,and analyzes the differences.Finally,it puts forward some optimization suggestions suitable for the adjustment of our "patent box" system,that is,adjusting the restrictive conditions,increasing the quality requirements of intellectual property rights,reducing the preferential tax rate,and introducing the "related law".