What does it mean to give up the patent right?

The patentee voluntarily contributes his invention and creation to the whole society, and may voluntarily give up his patent right through a declaration. Where the patentee voluntarily renounces the patent right, it shall make a written statement in the format uniformly formulated by the Patent Office. After the declaration of giving up the patent right is approved, the Patent Office will register and announce relevant matters in the patent register and patent bulletin. This statement shall take effect as of the date of registration and announcement.