HANGZHOU -- China will unswervingly implement a strict intellectual property protection system and continuously build a satisfactory innovation and business environment, said the head of the National Intellectual Property Administration (NIPA) Monday.

Shen Changyu, the NIPA director, made the remarks at the 10th China Intellectual Property Annual Conference in Hangzhou, East China's Zhejiang province.

Shen said China will conduct a stricter punitive compensation system to combat trademark infringement and step up efforts to crack down on malicious trademark registration, as well as pushing forward patent law revision and building a compensation system for medicine patent protection.

The country will also extend the design patent protection period and improve intellectual property review quality and efficiency.

The number of China's patent and trademark applications tops the world. The social contentment with intellectual property protection in the country reached 76.88 points in 2018 from 63.69 in 2012.

China is ranked 14th among more than 100 economies worldwide in the 2019 edition of the Global Innovation Index report.