The capital city's intellectual property office is sponsoring commercialization of 10 patents from nine companies with a total of 4.6 million yuan ($694,600).

Datang Mobile's wireless broadband technology based on the TD-SCDMA standard and a new medicine developed by the Chinese Academy of Medical Sciences were each awarded the top prize of 1 million yuan.

Liu Zhengang, director general of the city's intellectual property office, said the funding "greatly promotes industrialization of patents and encourages technological exchanges".

(Source: China Daily)