On the afternoon of May 6th, a press conference was held at Guangzhou News Center, which was themed on "Promoting IPR-related work for innovation-driven development". At the press conference, Mr. Deng Youman, director-general of Intellectual Property Office of Guangzhou Municipality announced the official issuance of The Measures for the Management of IPR-related Special Fund of Guangzhou Municipality.
Guangzhou began to set up an IPR-related fund in 2007, with the start-up amount reaching RMB 9 million yuan. Since then, a total of RMB 168 million yuan has been allocated through governmental fiscal budgets into the fund on a cumulative basis for the next eight years. According to the new measures for the management of the IPR-related fund, another RMB 400 million yuan will be poured into the fund within the following four years, between 2015 and 2019, which translates into an average input of RMB 80 million yuan each year.