On August 24, CNIPA held a press conference to release the progress of the transformation and application of intellectual property rights. According to the report, there are more than 73,000 IP service agencies in China, with over 865,000 employees and an annual revenue of more than 225 billion yuan, up 97.3%, 95.7% and 125% respectively over the beginning of the 13th Five-Year Plan period. The recognition of IP service quality by innovation and market entities is increasing year by year. 83.6% of invention patent application and 93.5% of trademark registration and application were handled by IP Service agencies.