WHDZ issues policies targeting IP protection

Wuhan Economic & Technological Development Zone (WHDZ) in Wuhan, Central China's Hubei province, issued new policies regarding intellectual property (IP) protection on Sept 16, explaining an incentive mechanism for IP development, according to local media reports.

The development zone will provide no less than 20 million yuan ($3.10 million) in support funds every year, and give corresponding rewards to enterprises that have won national, provincial, and municipal patent and trademark-related awards.

Up to 1 million yuan will be given to enterprises that have won the China Patent Gold Award.

A reward of 1 million yuan will be given to units that have obtained the title of China Well-Known Trade Mark.

In recent years, WHDZ has been prioritizing intellectual property as part of its efforts to promote regional industrial transformation and upgrading and high-quality development.

From 2019 to 2021, the development zone has given 23.55 million yuan in intellectual property award funds.

As of the end of July 2021, the total number of patent authorizations in WHDZ was 4,181, of which 699 were invention patents, a year-on-year increase of 124.76 percent.