China's First Bazaar for Patents Opens in Shanghai

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Last updated at: (Beijing Time) Wednesday, July 30, 2003

China's First Bazaar for Patents Opens in Shanghai

China's first bazaar specially for patent trading opened Monday in an intellectual property service center in China's largest industrial city of Shanghai.

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China's first bazaar specially for patent trading opened Monday in an intellectual property service center in China's largest industrial city of Shanghai.

More than 370 patent projects and another 78 patents suitable for private enterprises were offered at the bazaar, which offered opportunities for face-to-face talks between the patent holders and potential investors.

"For lack of convenient channels and places to release information, it was hard to make my patents widely known in the past, " said Wang Xiukang who brought seven patent projects with him to the bazaar from Yiwu City in eastern China's Zhejiang Province.

Statistics show that more than 42,889 patents have been approved in Shanghai since 1985, but only 10 percent have been productively utilized.

But in the bazaar, the patent holders can easily advertise their patents at stalls, or by playing videos or distributing leaflets.

The monthly bazaar was jointly undertaken by the intellectual property service center and a small enterprises service center in the municipality. An on-line bazaar for patents will also open in the near future.

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