Singapore, 20 September 2018 – Innovative enterprises in Singapore and the People’s Republic of China will soon have better access to a wealth of market opportunities in China and the high growth markets of ASEAN through Singapore. Earlier today, IP ValueLab (IPVL) – the enterprise engagement arm of the Intellectual Property Office of Singapore (IPOS) – signed a Memorandum of Understanding (MOU) with the Sino-Singapore Guangzhou Knowledge City Administrative Committee (KCAC) and Sino-Singapore Guangzhou Knowledge City Investment and Development Co. Ltd (GKC Co) to set up the “International Intellectual Property Innovation Service Centre” in the Sino-Singapore Guangzhou Knowledge City (SSGKC).
2.Singapore and China have a shared interest in using IP and innovation to drive economic growth. The MOU will link the innovation ecosystems of both countries more closely to support the translation of ideas and IP into products and services for the region and globally.
3.In particular, the Centre will provide a platform to connect IP expertise within the government and private sectors from both countries, and tap on Singapore’s experience in building IP skills to set up an IP college in Guangzhou.
4.The Centre will also enable China’s enterprises to gain access to ASEAN and other key overseas markets through Singapore, which continues to be ranked top in Asia by the Global Innovation Index. Chinese innovators can take advantage of established platforms1,2 for expedited IP application processes into the region, and connect with more than 70 markets through Singapore’s network of IP and other agreements. In addition, IPOS is one of only two countries in the world that can transact and conduct patent searches in English and Chinese, which will add to Singapore’s attractiveness to Chinese enterprises seeking access to the region’s markets.
5.The MOU will also allow Singapore enterprises entering into China to have access to IP consultancy services, which will be crucial for business success in the growing markets of the Greater Bay Area3 in China and beyond.
Asia: The fastest growing centre of innovation in the world
6.Global IP fillings have grown significantly at 5.7% per annum between 2006 and 2016, largely driven by fillings in Asia which grew twice as fast at 10.5% per annum. Today, S$4 in every S$10 invested in R&D globally originates from Asia. Six in 10 IP applications were filed from Asia in 20164, up from just four in 10 a decade ago.
7.China drives much of Asia’s growth, and its IP landscape has witnessed phenomenal growth in IP filings across patents, trademarks and designs. After overtaking the United States as the country with the most patent filings in 2011, China continues to enjoy double digit percentage growth in both patent and trademark filings annually. In 2016, China’s domestic patent, trademark and design filings accounted for 43%, 38% and 52% of global filings respectively.5 A staggering 98% of the increase in global patent filings came from China.
8.Chinese interest in ASEAN is growing strongly. Chinese patent filings into the six key ASEAN markets6 more than doubled from 2013 to 2016. Singapore’s patent filings into China – over 1,500 last year – is also the highest of all the countries in the Belt and Road Initiative. Singapore will continue to play an important role in bridging China and ASEAN, and serve as a gateway through which Chinese companies and innovators can access one of the most vibrant economic regions in the world.
9.The focus of the collaboration is on Guangdong through the SSGKC, as the Guangdong province clocked the largest number of domestic patent filings in 2017 for the eighth year running, filing more than 208,000 applications. The province also filed a record number of international patent and trademark filings last year, with its international patent filings amounting to more than half of China's total.7 Guangdong is also a leader in IP financing activities within China, with RMB13.3 billion worth of patent used as collateral for loans in the first six months of 2018.
10.Mr Tan Shau En (陈绍恩), Executive Director of IPVL (智权增值所执行总监), said, “China and Singapore have embraced innovation as a key driver of economic growth. The best ideas are sourced globally and innovation is enabled in a favourable ecosystem. The new IP Innovation Centre will be a critical link in the global innovation ecosystem with Guangzhou and Singapore acting as attractive bases to anchor and commercialise IP, enabling access to high growth regions in ASEAN and the Greater Bay Area, and bolstering high value economic growth for Guangzhou and Singapore.”
11.Mr Tan Minghe (谭明鹤), Deputy Secretary of the Communist Party of China (CPC) Working Committee of Guangzhou Development District, and CPC Working Committee of Sino-Singapore Guangzhou Knowledge City (广州开发区党工委兼中新广州知识城党工委副书记), said, “SSGKC is committed to the establishment of ties between innovative Chinese companies and Singapore's intellectual property partners for domestic and foreign IP service providers to benefit from international operations along the Belt and Road. GKC will also strive to be a new benchmark for the utilisation, commercialisation and protection of IP in the Greater Bay Area of Guangdong, Hong Kong and Macau, to jointly promote IP cooperation between China and Singapore, and take Singapore-Guangdong cooperation to a new level.”
12.Mrs Nina Yang (陈萃菁), Chairman of Sino-Singapore Guangzhou Knowledge City Investment and Development Co. Ltd (中新广州知识城投资开发有限公司董事长), said, “The collaboration between IP ValueLab and SSGKC reinforces SSGKC’s position as a model hub for innovation and IP cooperation between Singapore and China. As the master developer of SSGKC, we are committed in bringing together key strategic stakeholders from both countries, to help bridge the gaps between our IP creators and their IP commercialisation.”
13.Details on areas of cooperation under the MOU can be found in Annex A.
1 Singapore championed ASPEC, the first regional patent work‐sharing programme arrangement which expedited patent applications and streamlined the process for patent application in nine participating ASEAN IP offices.
2 Singapore is the first ASEAN country that is an appointed international search authority (ISA) under the World Intellectual Property Organization (WIPO), and has the authority to take on international patent work.
3 The Greater Bay Area refers to the Chinese government’s plan to link the cities of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing into an integrated economic and business hub.
4 Source: Managing IP – Asia dominates IP Filing Growth
5 Source: WIPO press release – China Tops Patent, Trademark, Design Filings in 2016
6 The countries are Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.
7 Source: SIPO website – Numbers
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The Intellectual Property Office of Singapore (IPOS) is a statutory board under the Ministry of Law. We manage Singapore’s IP registries and develop its IP regime, train people in IP skills and expertise, and build Singapore’s innovation ecosystem to support our future economy. We deliver on our commitments through our core values of integrity, professionalism, team work and by investing in our greatest asset– our people. More information on IPOS can be found at www.ipos.gov.sg.
IP ValueLab (IPVL) is the enterprise engagement arm of the Intellectual Property Office of Singapore. It was set up with the mission of providing advice to businesses so they can maximise the value of their intangible assets and leverage them for growth. The services range from simple audits to identifying intangible assets and helping companies formulate an intangible asset strategy that is aligned with their business goals to compete and grow globally. Visit www.ipvaluelab.com.sg for more information.
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Annex A – Areas of Cooperation
The MOU contributes to the development of Singapore’s and China’s IP and innovation ecosystems where innovative enterprises can gain access to markets in ASEAN and countries along the Belt and Road. It reaffirms the progress made in advancing SSGKC as a state level intellectual property (IP) reform demonstration zone and a model for innovative and IP cooperation between Singapore and China.
As part of the agreement, KCAC, IPVL and GKC Co will:
a.Jointly establish a company (business entity) based in the SSGKC to connect Chinese and Singapore IP service providers to provide:
(i)IP consultancy services for Singapore enterprises entering China.
(ii)IP-related services for Chinese companies entering ASEAN and other countries along the One Belt One Road initiative.
b.Share Singapore’s experience in IP manpower and capability development with participation in the establishment of an IP College in SSGKC.
c.Explore collaboration in cross-border IP financing, valuation, and other forms of IP services to help innovative companies from both Singapore and China to leverage on their intangible assets for growth.
d.Encourage participation in flagship IP events and activities organised by both parties, and provide a platform for companies and IP service providers to network and engage each other.