BEIJING — China completed 3.52 million trademark registration reviews in the first half of this year, up 67.8 percent year-on-year, according to the 11th China Trademark Festival.

So far, the country’s valid trademarks have exceeded 22.74 million, ranking top in the world with every 5.2 market entities owning one on average.

China has been ramping up efforts to facilitate the reform on streamlining the approval process of trademark applications and improve the quality and efficiency of intellectual property review procedures.

Review cycle of trademark registration was shortened to less than five and a half months.

Meanwhile, registration fees for trademark renewals decreased 50 percent to 500 yuan and the fees for changing trademarks fell from 250 yuan to 150 yuan from July 1, according to the National Development and Reform Commission.