Sixteen measures for building the Qianhai Shenzhen-Hong Kong Intellectual Property and Innovation Hub were jointly promulgated yesterday by the Commerce and Economic Development Bureau of the Government of the Hong Kong S.A.R (CEBD) and the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen (Qianhai Authority).

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The measures were rolled out to advance the development of intellectual property (IP) in Hong Kong and Shenzhen, boost cross-border IPR innovation, exchanges and cooperation, and accelerate Hong Kong’s construction into a regional IPR trading center.

Algernon Yau, secretary for CEBD, said that Hong Kong boasts a sound IP protection system and thorough legal and judicial systems, and has high-end scientific research and quality professional service talents and networks. “The 16 measures, on the one hand, will assist Hong Kong’s IP developers, enterprises and talents to develop IP-related businesses in Qianhai and tap the market in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), and on the other hand, will support the IP industry in Qianhai to utilize Hong Kong’s unique advantages and platforms to connect with international markets for IP trading,” Yau said. He further noted that the Hong Kong S.A.R Government has been promoting the development of IP trade through a multi-pronged approach, including jointly researching, discussing and implementing appropriate measures with the relevant mainland authorities.

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The measures cover a wide range of areas, mainly including cooperation in the fields of IP protection, exploitation and transformation, exchanges and seminars, promotion and education, and IP trading.

Among the 16 measures, 10 initiatives will provide generous subsidies for qualified individuals and institutions, and the subsidies will be borne by the Qianhai Authority. The measures became effective Feb. 23 and will be valid for three years.

Some of the major initiatives of the 16 measures:

• Supporting Hong Kong’s universities, R&D institutions and enterprises to settle in Qianhai, assisting and promoting the transformation of their innovative R&D achievements and tapping the immense market inside and outside the GBA, and providing incentives for Hong Kong’s IP professionals to develop their careers;

• Supporting the construction of the International IP Integrated Operation Services Center in Qianhai, and providing a subsidy of up to 2 million yuan (US$289,910) for three consecutive years if the center sets up branches in Hong Kong;

• Supporting the establishment of a cooperation mechanism between the relevant arbitration bodies in Hong Kong and Shenzhen to further promote IP arbitration services;

• Supporting the mutual establishment of IP enquiry points in Hong Kong and Shenzhen by the Intellectual Property Department of the Government of Hong Kong S.A.R and the China (Shenzhen) Intellectual Property Protection Center, including optimizing IP cross-border services between the two places;

• Encouraging the creation, commercialization and application of high-value patents, and supporting the organization of more large-scale IP activities, such as exhibitions or forums, in Hong Kong and Shenzhen.