Huangpu district, Guangzhou Development District (GDD) has released a series of 10 regulations in the mutual recognition of intellectual property (IP) in Guangdong, Hong Kong, and Macao, offering guidance in areas spanning employment encouragement, arbitration, and finance.
Service institutions set up by Hong Kong or Macao residents can receive a start-up subsidy of 200,000 yuan ($28,459.75) as long as it manages IP service for more than one year.
For those whose annual main business incomes reach over 5 million yuan, they can receive a one-time subsidy of 500,000 yuan.
Hong Kong and Macao residents are encouraged to seek employment around IP in GDD. A 20,000 yuan subsidy will be given to those with relevant national qualification in IP.
The regulations noted that an IP college will be set up relying on local institutions, such as the Intellectual Property Development Research Institute of Peking University in the Guangdong-Hong Kong-Macao Greater Bay Area. Cooperation and communication activities are encouraged with a subsidy of up to 1 million yuan for each activity.
Companies are encouraged to make full use of Hong Kong and Macao's resources in multiple dispute resolution services. Those carrying out IP arbitration, mediation or litigation will receive a subsidy of 50 percent of arbitration fees, as well as a subsidy for hiring lawyers of up to 1 million yuan.
The Guangzhou Intellectual Property Court, the Guangzhou Intellectual Property Arbitration Commission, and the Huangpu district court are supported to attract jurors, arbitrators, and mediators from Hong Kong and Macao, with each receiving a 20,000 yuan reward every year.
The establishment of mediation organizations will be pushed forward and each will receive a subsidy of up to 300,000 yuan. A financial market for IP will be set up to establish a one-stop platform for IP and finance.
In addition, the regulation stated that Hong Kong, Macao, and Singapore IPs can enjoy the same treatment as those from the Chinese mainland in applying for preferential policies or project reviews at the district level.