The Guangdong Market Supervision Bureau had a busy year in 2019, and its results are something to crow about: By the end of the year, processing time for startup companies had been reduced by nearly 50%, while one-third of application materials had been cut. This benefited no fewer than 193,000 new enterprises, local media reported.
This brought the province’s total number of “market entities” to 12.533 million, a year-on-year growth of 9.4%, and still No. 1 in the country – for seven years running.
It wasn’t all fun for the Market Supervision Bureau, however. It also strengthened antitrust law enforcement, investigating no fewer than 45,000 cases over the course of the year, dishing out 470 million yuan in fines for violations.
Intellectual Property Rights protection, a sore point among foreign-invested firms, has clearly become more important for Guangdong, as the bureau noted that the province’s number of patent applications, both local and international, had soared. Up to the end of November, there were 293,000 valid invention patents and 175,000 PCT international patent applications, accounting for 51.8% of the national total. Moreover, there were more than 4.28 million valid trademark registrations, ranking first in China, while 13,000 enterprises have passed the intellectual property standards certification, also ranking first in China.
The year was also a big one for technological development related to IPR, as Guangzhou successfully issued the first securitization products based on pure patent rights. These were launched by the management entity overseeing the Sino-Singapore Guangzhou Knowledge City, a development zone being built in the city’s Huangpu district. (Look out for a special feature on the zone on Monday).
It was also a year in which the first intellectual property securitization project was listed on the Shenzhen Stock Exchange, underwritten by Ping An Securities and issued by Shenzhen Hi-tech Investment Group.
Dongguan, meanwhile, completed the country’s first “mixed-pledge” guarantee loan, involving an evalutation of patents, trademarks and copyright, as the local branch of China Construction Bank issued a 2.5 million yuan loan to Dongguan Weikema Measuring Equipment Co.
That was just the tip of the iceberg. From January to November, the registered amount of patent-right pledges in the province reached 15.69 billion yuan, ranking first in China.