The regulations on Reducing Patent Fees jointly issued by the Ministry of Finance and National Development and Reform Commission would come into force on September 1st this year. According to the roughly calculation by the Ministry of Finance, the patent fee would be reduced by about 4.1 billion yuan every year after implementation of the opinion.
The regulations were formulated to implement the State Council's opinions on accelerating building China into IP power house, better support the development of patent work and reduce the burden on companies and individuals. The regulations expand the body scope of subject, simplify the procedures, increase penalties, reiterated patent agencies and agents acted in accordance with professional ethics, which could meet the requirement for accelerating IP development and inspire public's enthusiasm of innovation.
In 2006, SIPO formulated regulations on reducing the rate of patent cost based on the former implementation regulations of Chinese patent law. Nearly 70% patent applicants or patentees enjoyed the above privileges. In 2015, a total of 3.5 billion yuan of patent fees were reduced.
(Source: SIPO)
