China's leading telecom equipment manufacturer, ZTE Corp, was ranked third globally in patent applications under the 2014 Patent Cooperation Treaty, the company said, citing the World Intellectual Property Organization on Thursday.

More than 12,000 handset-related patents have been granted to ZTE. They hold 13 percent of the world's 4G-specific patents.

More than 10 percent of ZTE's annual business revenue goes toward innovation and research, said CEO Shi Lirong.

Over the past five years, ZTE has invested over 40 billion yuan ($6.54 billion) in research and development, and its R&D employees account for 37.5 percent of all employees.