The Maoming administration for market regulation has taken a series of measures to advance the application of intellectual property rights (IPR), aiming to boost the high-quality development of the city's real economy.

From January to April, there were 1,498 patent applications and 907 patent authorizations in Maoming, a year-on-year increase of 22.39 percent and 30.69 percent respectively.

Preferential policies to encourage the creation of IPRs, guide enterprises to apply for IPRs, and register trademarks have been issued in the city.

Enterprises which have had difficulties in resuming work and production due to the impact of the novel coronavirus (COVID-19) pandemic are allowed to access financing by pledging IPRs.

By cooperating with the city's bureau of finance and the Maoming Central Branch of the People's Bank of China, the Maoming administration for market regulation has set up a risk compensation fund for IPR pledge financing with a quota of 10 million yuan ($1.41 million) to carry out discount interest on enterprises that have obtained loans through IPR pledges.

In addition, a special fund of 1.5 million yuan has been allocated to key industries in the city, including artificial intelligence technology, equipment manufacturing, deep processing of agricultural products, as well as new energy and new materials, to cultivate a number of high-quality IPRs.