We propose a new method for determination of the rotation velocity of the galactic spiral density waves, correspondingly, the corotation radius, $r_C$, in our Galaxy by means of statistical analysis of radial oxygen distribution in the galactic disc derived over Cepheids. The corotation resonance happens to be located at $r_C sim 7.0 - 7.6 $ kpc, depending on the rate of gas infall on to the galactic disc, the statistical error being $sim 0.3 - 0.4$ kpc. Simultaneously, the constant for the rate of oxygen synthesis in the galactic disc was determined. We also argue in favour of a very short time-scale formation of the galactic disc, namely: $t_f sim 2$ Gyr. This scenario enables to solve the problem of the lack of intergalactic gas infall.
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