The selection activity of the China Patent Award is jointly carried out by the State Intellectual Property Office and the World Intellectual Property Organization. The selection is held once a year. It is the only government department award in China that specifically rewards inventions and creations with patent rights. Since the 19th National Congress of the Communist Party of China, Yantai City has won a total of 4 Chinese patent gold awards, accounting for 1/3 of the province’s Chinese patent gold awards.

In order to accelerate the construction of a demonstration city for a powerful country with intellectual property rights, and actively promote the transformation of intellectual property creation from multiple to excellent, from large to strong, on July 26, the Yantai Municipal Bureau of Market Supervision and the Municipal Finance Bureau jointly issued the “High-quality Development of Intellectual Property Rights in Yantai City”. Funds Implementation Rules”, further increase the amount of supporting incentives for patent awards, and will give 500,000 yuan, 300,000 yuan, and 200,000 yuan to those who have won the Chinese Patent Gold Award, Silver Award, and Excellence Award; Gold, silver, and excellence awards will be rewarded with 500,000 yuan, 200,000 yuan, and 100,000 yuan respectively; those who have won the provincial patent award special award, first prize, second prize, and third prize will be awarded each Items of 500,000, 200,000, 100,000 and 50,000 yuan will be awarded. At the same time, the Municipal Market Supervision Bureau is formulating relevant measures to provide financial support for high-quality and high-value patent projects in Yantai City, further stimulate the enthusiasm of innovative entities to apply for the Chinese Patent Award and the Provincial Patent Award, and effectively improve the quality of recommendation.