Third, the benefits of IPR application have increased. Statistics show that in 2019, the value added of national patent-intensive industries reached 11.5 trillion yuan, a year-on-year increase of 7%, accounting for 11.6% of GDP that year; the value added of the national copyright industry reached 7.3 trillion yuan, accounting for 7.39% of GDP that year. In 2020, 408 of the world's 5,000 leading brands were from China, with a total value of $1.6 trillion. The total amount of patent and trademark pledge financing in China reached 218 billion yuan, a year-on-year growth of 43.9%. The direct output value of enterprises using special geographical indication signs totaled 639.8 billion yuan, which provided strong support for the fight against poverty. A total of 186,000 technical contracts involving IPR were signed, with turnover exceeding 1.1 trillion yuan. The total import and export of intellectual property royalties amounted to $46.31 billion, of which exports were $8.68 billion, a year-on-year increase of 31.5%.

Fourth, reforms in the field of IPR have continued to deepen. We stepped up efforts to promote reforms to streamline administration, delegate power, improve regulation, and upgrade services in the field of IPR, and further improve the quality and efficiency of patent reviews. The average review period for invention patents has been cut to 20 months, two months quicker than at the beginning of the 13th Five-Year Plan period (2016–2020). Meanwhile, the review period for high-value patents has been reduced to 14 months and the average review period of trademark registration has been shortened to four months, down by more than half the time needed at the beginning of the 13th Five-Year Plan period. We screened out a batch of abnormal patent applications that were not made to protect innovation, and rejected a batch of malicious registration applications for trademarks not made for use. We also promoted the "one window" system for patent and trademark business acceptance and achieved the integration of systems across 27 provinces (autonomous regions and municipalities). Additionally, the Supreme People's Procuratorate established an IPR prosecution office and the Supreme People's Court set up the Hainan Free Trade Port Intellectual Property Court.

Fifth, new progress has been achieved in international cooperation on IPR protection. President Xi Jinping and European Union (EU) leaders announced the official signing of an agreement on geographical indications (GI). We contributed to the negotiation of a chapter on IPR in the Regional Comprehensive Economic Partnership (RCEP) agreement. We took orderly measures to implement provisions on IPR in phase one of the China-U.S. economic and trade agreement and renewed the "Belt and Road" intergovernmental agreement on IPR cooperation with the World Intellectual Property Organization (WIPO). The Beijing Treaty on Audiovisual Performances also officially came into effect, marking the first time an international intellectual property treaty has been adopted in China and named after a Chinese city. Important progress has been made in China's entry into the Hague Agreement Concerning the International Deposit of Industrial Designs. The WIPO Arbitration and Mediation Center established an office in the Shanghai Pilot Free Trade Zone.

2021 is the first year that the 14th Five-Year Plan will be implemented. The NIPA will continue to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully grasp and put into practice the principles of the 19th CPC National Congress and the second, third, fourth, and fifth plenary sessions of the 19th CPC Central Committee. We will also act on the guiding principles of the important speech delivered by General Secretary Xi Jinping at the 25th group study session of the Political Bureau of the CPC Central Committee. We will accelerate the formulation of the Outline of National Intellectual Property Strategy (2021-2035) and a national IP protection and utilization plan for the 14th Five-Year Plan period. In doing so, we aim to strengthen top-level design, make progress while maintaining stability, and promote high-quality development of China's IPR work from a higher starting point to provide stronger support for fully building a modern socialist country and uphold our outstanding achievements as a celebration of the centenary of the CPC.

We would now like to answer your questions. Thanks.