A second-tier patent system with relatively low protectability standards has been adopted by many countries, but empirical evidence on how it is used by firms israre. Using Chinese patent data, we exploit “parallel filings” – where a second-tierpatent is filed simultaneously with an invention patent – to shed light on its usein practice. The data indicate that while parallel filings appear to be inventionswith a narrower scope, they are cited more frequently in the early years and morelikely to be licensed or transferred compared to inventions protected by standardpatents. We provide evidence that parallel filing is likely a strategic choice forshort-life-cycle technologies that achieve high value early in their lifetime but decayfast. The rapid issuance of the second-tier patent facilitates knowledge diffusionand technology transfer, thereby helping the patentees capitalize on the value of fast-moving technologies. This study provides some much-needed empirical evidenceon how the quick procedure of the second-tier patent system serves short life-cycletechnologies.

China historically paid more attention to improving patent quantities because policymakers wished to improve the patent qualities by stimulating patent quantities, and it focused on developing invention patents but paid little attention to utility model patents because many people believe that the quality of utility model patents is lower than that of invention patents. Varies studies discussed the issues of patent qualities, but little empirical evidence was developed to show the relationship between patent quantities and patent qualities or prove that the utility model patents’ quality is lower than the invention patents’ quality. An empirical analysis is helpful to find the impact of patent quantities on patent qualities, and comparing it with the impact of R&D investments on patent qualities will show which has a greater impact. By comparing them with invention patents’ quality, the statistical examination on the quality of utility model patents is also meaningful.

In the process of green transformation of China's economy, it is of great practical significance to study the impact of green finance in supporting the development of the real economy, especially the impact of green credit on enterprise innovation, in order to promote the green transformation of enterprises, industrial structure upgrading and sustainable economic development. This paper takes green credit as a perspective and introduces it into the analytical framework of the impact of environmental regulation on corporate green innovation, through theoretical mechanism analysis and empirical testing, in order to reveal the impact and mechanism of green credit on corporate green innovation. It is found that green credit can effectively promote green innovation in heavy polluting enterprises, and it is mainly reflected in the increase of green utility model patent applications with a low degree of inventiveness. The promotion effect of green credit on green innovation is more obvious in regions with lower levels of economic development. Further mechanism analysis shows that green credit policy promotes green innovation of heavy polluting enterprises mainly through the incentive effect brought by changing financing environment and the pressure effect brought by increasing market competition. The findings of this paper can provide references for policy-making departments, banks and enterprises.