Editorial | Global IP treaty can help Hong Kong secure its creative edge
As the city exports more of its proprietary products and services, especially from its creative industries, IP protection is timely and necessary
The “one country, two systems” model has served Hong Kong and mainland China well for more than a quarter of a century. Under this governing formula, Hong Kong needs to seek endorsement from the central government in some areas. One ongoing effort relates to the intellectual property (IP) economy – which includes the creative industries – that plays a key role in the city’s growth and employment.
As the city exports more of its proprietary products and services, especially from its creative industries, IP protection becomes even more important. According to government data in December 2023, “intellectual property-intensive industries” contributed 32.7 per cent of Hong Kong’s gross domestic product and 29.1 per cent of total employment between 2019 and 2021.
The Madrid Protocol has many advantages. Once you have successfully registered, your IP is recognised and protected across all member countries, which also include most of Hong Kong’s major trading partners such as the US, Japan and the EU.
Hong Kong officials are promoting the city and exploring new economic opportunities with visits to the 10 countries of the Association of Southeast Asian Nations, the Gulf states, Eastern Europe, Central Asia and Latin America. Recent visits also include New Zealand and Australia. The city can especially function as a bridge, or “superconnector”, between mainland firms and those overseas economies. It is cementing its ties with Singapore, whose economy, Yau says, is complementary rather than a rival.