April 26 marked World Intellectual Property Day, and Yantai in Shandong province has made new strides in strengthening the protection of intellectual property rights, or IPR, of enterprises in recent years to create a favorable business environment.

Official data shows that in 2022, a total of 3,869 new invention patents were granted, an increase of 55.6 percent year-on-year.

In the comprehensive performance assessment of high-quality development in the province, the city ranked first in the two indexes of "IPR protection" and "high-value patent cultivation" in Shandong.

According to official statistics, the number of valid invention patents in the city reached 13,889 as of the end of 2022, an increase of 31.1 percent year-on-year. Its number of invention patents per 10,000 people was 19.55 in 2022, 4.64 more than that of 2021. Last year, six high-value invention patents from Jinan won the 23rd China Patent Award. The city's achievements in IPR protection has in turn injected strong vitality into the city’s high-quality economic and social development.

Yantai always attaches great importance to IPR protection and strives to build itself into a strong city in terms of intellectual property, according to local authorities.

Last year, Yantai implemented a raft of measures to promote the establishment of a sound IPR management system. The city has set up a special fund worth 80 million yuan ($11.56 million), which focuses on investment in enterprises with core IP.

This year, the city will work to strengthen legal support for intellectual property, improve related management systems, continue to enhance full-chain IPR protection, as well as consistently optimize its innovation and business environment, according to local authorities.