The robust IT industry, a wealth of professionals and a well-established intellectual property protection system are helping Hong Kong to become a regional IP trade center, said top local official at the sixth Business of IP Asia Forum that opened on Dec 1.

Organized by the Hong Kong government, the Hong Kong Trade Development Council and the Hong Kong Design Centre, the two-day event adopted the theme of "IP in the innovation era". It attracted more than 2,400 delegates and 80 speakers.

Hong Kong Chief Executive Leung Chun-ying said at the opening ceremony of the forum that the demand for IP is huge in Asia and around the world, and Hong Kong now has "great opportunities" as the Chinese mainland is a growing IP market.

"The Chinese mainland has surpassed the United States to top the world in many categories of IP, with rapid growth," said Leung.

Wang Binying, deputy director-general of the World Intellectual Property Organization, said at the forum that technical innovation has been driving the growth of global patent filings, in which China has been playing a key role.

According to a recent WIPO report, innovators around the world filed nearly 2.9 million patent applications last year, increasing 7.8 percent year-on-year. The State Intellectual Property Office of China is the first office to have received 1 million applications in a single year.

Leung said Hong Kong should enhance its technical innovation capacity and develop its creative industries to ensure its position in the future world economy and use the advantages of the "One Country, Two Systems" principle to become a bridge that links the IP markets of the Chinese mainland and the rest of Asia and the world.

The MIT Hong Kong Innovation Node, a cooperative project launched in June, aims to connect the US-based Massachusetts Institute of Technology to the resources and opportunities of Hong Kong and the neighboring Pearl River Delta.

The cultural and creative industries, important sectors in Hong Kong, generate $14 billion in annual revenue and offer more than 210,000 jobs, said Leung.

Raymond Yip, deputy executive director of the HKTDC, told Xinhua News Agency that Hong Kong has multiple advantages in the world of IP, including a well-established legal system with internationally accepted IP regulations that can provide a fair trade platform for IP creators and users.

He said Hong Kong can also provide arbitration and financial services.

The 12th InnoDesignTech Expo was held alongside the forum, under the theme of "Urbanovation". The expo explored how design and innovation become key driving forces behind urban lifestyle and development through exhibits and interactive games.

More than 450 exhibits from 22 countries and regions took part in the expo, which included displays of the new-generation aluminum mobile home, Tesla Model X electric cars, service robots and edible 3D printing.

(China Daily 12/07/2016 page17)