CHENGDU, Jan. 12 (NBD) -- An intellectual property tribunal was unveiled in Chengdu, capital of Southwest China's Sichuan Province, on Monday.

The initiative is expected to create a sound environment for innovation and entrepreneurship in Chengdu, laying the foundation for speeding up the establishment of a standalone intellectual property court in this city. 

Zhang Geng, member of state intellectual property experts group, professor at Southwest University of Political Science and Law, said to NBD that safeguarding intellectual property rights by mechanism would definitely assist in creating favorable conditions for innovation and entrepreneurship.

There were over 36,000 applications for invention patent in Chengdu and 12,000 newly established high-tech companies in 2016, with a growth rate of 20.8% and 9.1% respectively.

Email: zengyunheng@nbd.com.cn