WHDZ records invention patent applications growth

In the first 10 months of 2019, the number of invention patent applications by companies located in the Wuhan Economic & Technological Development Zone (also known as WHDZ) reached 1,183, a year-on-year increase of 27.2 percent, according to a report in the Hubei Daily.

Among the enterprises, Dongfeng Motor, Midea Refrigeration Equipment, Hubei Ecarx and Wuhan Shengyu Drainage System Co recorded 100 percent growth of invention patent applications.

In recent years, WHDZ has taken intellectual property work as a strategic route to promoting its industrial transformation and upgrading, as well as high-quality development.

Besides being an intellectual property work center, the WHDZ will also boast the China Wuhan (Automotive and Parts) Intellectual Property Rights Protection Center which was approved in July last year.

The zone will soon to add an intellectual property featured park, which will bring together intellectual property-related institutions, industries and resources.

Earlier in August, the "Measures and Implementation Rules for Promoting the Development of High-Quality Intellectual Property Rights" was issued by the WHDZ. Under these rules, enterprises receiving national and provincial-level patent awards will be awarded 60,000 ($8,526) to 1 million yuan.

Officials said that in view of the financing difficulties some enterprises face, the WHDZ cooperated with relevant financial institutions to help Wuhan Shengyu Drainage System Co and Wuhan Topeagle Equipment Co to realize huge patent right pledge loans and help Wuhan Miiow Clothing Co to pass trademark rights pledge loans of nearly 50 million yuan.