Source: Xinhua

Hainan province set up an intellectual property exchange in late December in the latest move to support the construction of a pilot free-trade zone. The IP International Exchange of Hainan, located in the provincial capital of Haikou, aims to become the largest IP trading place in China. The exchange's trade volume is expected to surpass 1 trillion yuan ($143 billion) in the next five years. Hainan was approved in April 2018 to build a pilot free-trade zone covering the whole island.