The IP trade has become a major part of technology trade in Wuhan, Hubei province, according to a report from Wuhan IP Office.

More than 60 percent of registered patents were sold last year with a total value of 3.8 billion yuan, the office said.

Last year 2,799 IP-related contracts were registered in Wuhan, accounting for 49.15 percent of all contracts registered in Wuhan. The rapid rise in the registration of local IP-related contracts shows that the IPR management level of Wuhan's companies, universities and research institutions has been upgraded and the ability to use IP to gain economic benefits has been enhanced, the office said.

(China Daily 02/16/2009 page9)