Source: China Daily

Qingdao will have an annual intellectual property trade volume of 1 billion yuan ($150 million) by 2020, according to the city's recently unveiled plan to build a national level IP powerhouse. The plan mandates that the invention patent ownership per 10,000 local residents will reach 25 by that time, with at least 100 international patent applications annually and 100,000 valid trademarks. More than 300 local companies will have IP management organizations.