Editor’s note: This was contributed by Paddy Cosgrave, CEO of Web Summit and RISE. RISE is a technology conference taking place in Hong Kong between July 11-13 and brings together 15,000 tech leaders and attendees from Asia and the rest of the world. Connect with Paddy on LinkedIn.

A number of months ago, ahead of our US-based event Collision, I wrote about the direction of American innovation and I found something incredible. China has eclipsed the US in terms of the creation of intellectual property.

This revelation alone may not sound earth-shattering, but when you consider what is happening in more detail you begin to discover some truly significant trends.

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TechNode Guest Editors represent the best our community has to offer: insight and perspective on how technology is affecting business and culture in China