China recorded the highest application volume for each IP right as innovators and creators inside the country, as well as foreign entities, seek to protect and promote their work in one of the world's fastest growing major economies, the report said.

The number of trademark applications, which WIPO officials said has been used as an indicator of projected global economic activity, grew by a "stunning" 30 percent totaling 12.39 million, while the number of industrial design applications reached 1.24 million.