Hengqin platform boosts China's IPR transaction market

A new force for intellectual property exchange and protection, the Hengqin International Intellectual Property Rights Exchange (HIPEX) was officially launched on June 19.

An accompanying app and website, www.7ipr.com, also came online, which will combine social networking, IP e-commerce, IP finance, and big data. 

Inspired by the Chinese government's call to "let the innovators get rich first," state-level HIPEX, also known as the Seven-Stringed Lute National Platform, aims to develop an online trading system with a core business focused on financial innovation, IPR transactions, and international operations.

Hengqin International Intellectual Property Rights Exchange Center [Photo courtesy southcn.com]

It also hopes to edge into the nation's "platform + institutions + capital + industry" IPR operation service system.

Construction of the new center was determined by the Ministry of Finance and the State Intellectual Property Office in December 2014 with provincial government approval, and has taken more than two years to accomplish.

The center is built and operated by Hengqin International Intellectual Property Rights Exchange Center Co Ltd, a subsidiary of Huafa Group.

Government officials said they believed the new center would grow into an innovation hub supporting development of the Guangdong-Hong Kong-Macao Greater Bay Area, as well as serve Guangdong Province's goal to form an innovation-driven economic system and development pattern.

The platform has a strategic cooperation agreement valued at 6 million yuan ($880,000) with Sichuan Chuanchuangfeiyi Cultural Industry Management Co Ltd on copyright trading and development. 

Qiang embroidery [File photo]

The agreement was signed during the 6th International Festival of Intangible Cultural Heritage held in Chengdu, capital of Sichuan Province, from June 10 to 19.

The parties will pioneer innovative projects based on the international IPR trade platform for intangible cultural heritage such as Lianghe wood handicraft, Qiang embroidery, leather art, dyeing, and weaving.

According to the contract, full play will be given to their particular advantages regarding trading platform construction, intellectual property transactions, copyright management, and cultivation of intangible cultural heritage, as well as marketing.