25 Patent Gold Medals Generate 37.1 Billion Yuan in Profit

On November 11, Ceremony for the 15th WIPO-SIPO Award for Chinese Outstanding Invention and Industrial Design patents opened in Beijing. Francis Gurry, director-general of the World Intellectual Property Organization (WIPO), and Tian Lipu, Commissioner of the State Intellectual Property Office (SIPO), both attended the ceremony and delivered a speech respectively. The 25 gold medal items have generated 109.5 billion Yuan in combined sales revenue and 37.1 billion Yuan profit by the end of 2012, which brought significant economic benefit to the right-holders.

Francis Gurry said in his address that the meeting showed the close tie between WIPO and SIPO, which highlighted the power of innovation in socio-economic development as well. Gurry felt much delighted with the rapid development of China's patent cause as well as its great power in economic development. 

Tian Lipu stressed in his speech that the award played a vital role in promoting China's IP development, especially in stimulating innovation and improving patent quality. Tian said, under the background of the rapid growth of China's economy, society and IP cause, the credibility, authority as well as influence of the award have been increasingly improving with the common concern and efforts of the society. Tian stressed that the patents awarded were innovative, well-designed, and practical, whose implementation have had and would continue to have a positive and significant impact on China's industrial upgrading as well as socio-economic development. 

At the meeting, Francis Gurry, WIPO deputy director-general Wang Binying, Tian Lipu, SIPO Vice Commissioner He Hua, and Xiao Xingwei, Head of Discipline Inspection Group of Central Commission for Discipline Inspection stationed in SIPO, together awarded the China patent gold prize and China design gold prize to the winners. 

Out of some 800 entries, a record-high number for the annual event, 20 inventions and 5 industrial designs respectively were awarded patent gold medal and design gold medal; 336 patents and 53 industrial designs were awarded China patent award of excellence and China design award of excellence in the 15th WIPO-SIPO Award.  

(Source: China IP News)