The issuing ceremony of China's millionth patent of invention was staged in Beijing on July 16. It's reported that since the first inventive patent was accredited in 1986, it takes only 26 years for China to make the goal of authorizing 1 million inventive patents a reality, becoming the first country worldwide which realizes the goal within the shortest period.

According to Mr. Tian Lipu, Director General of State Intellectual Property Office, China has ushered in a fast growing period when it comes to the number of applications for inventive patents as the general public's awareness about indigenous innovation enhances over time. As of the end of Q2'12, China had accepted altogether 3.114 million applications. As of July 11, 1 million patents had been authorized, with 518,000 of which being domestic inventive patents.

Mr. Tian Lipu noted that State Intellectual Property Office will do more to guide and facilitate major market players to effectively utilize intellectual property system as it works to give scope to the supporting and guiding role of intellectual property in socio-economic development.