Regional Intellectual Property Trading Centre
122. The National 14th Five‑Year Plan supports Hong Kong to develop into a regional intellectual property (IP) trading centre. According to the Global Innovation Index 2022 published by the World Intellectual Property Organization, the Shenzhen‑Hong Kong‑Guangzhou cluster was ranked second among the world's top‑performing science and technology clusters for three consecutive years, highlighting the vibrancy of innovative activities in the GBA.
123. The Government will continue to allocate resources to further promote and develop the "original grant patent" system to tie in with Hong Kong's I&T development. An additional funding totalling $10 million will be allocated to the Intellectual Property Department in the next two years for employing and nurturing its patent examiners as well as progressively developing a talent pool, with a view to acquiring institutional autonomy in conducting substantive patent examination by 2030.
124. The Government will also continue to enhance the IP regime. To strengthen copyright protection in the digital environment, the Copyright (Amendment) Ordinance 2022 will come into operation on 1 May this year, following which we will embark on a new round of review as soon as possible as part of our ongoing efforts to enhance the competitiveness of our copyright regime. We also plan to table the relevant subsidiary legislation for implementing the Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks in the LegCo in the first half of this year, with a view to putting in place the international trademark registration system under the Protocol as early as possible. This will enable trademark owners to register and manage their trademarks in multiple jurisdictions under one single application.
"Patent Box" Tax Incentive
125. I&T is a key engine for driving the development of a knowledge‑based economy. Legal protection of R&D outcomes in the I&T field can be acquired through patent registration, which facilitates IP trading activities such as buying/selling and licensing and the development of new products and services, as well as unleashes the underlying economic value of the concerned intangible assets. To encourage the I&T sector to forge ahead with more R&D activities and create more patented inventions with market potential, we will introduce a "patent box" tax incentive to provide tax concessions for profits sourced in Hong Kong from qualifying patents generated through R&D activities. We will consult the trade on the "patent box" tax arrangements within this year and formulate a competitive concessionary tax rate applicable to Hong Kong. Our target is to submit the legislative amendments to the LegCo in the first half of 2024.
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