In an effort to bolster more applications filed overseas and protect innovation achievements, the Ministry of Finance recently released the Interim Procedures on Subsidization for Patenting Overseas.

Ma Weiye, Deputy Director General of Patent Affairs Administration Department of SIPO said, SMEs will be the main beneficiaries of this special fund, with a primary allocation of 50 millon yuan each year. 100 millon yuan will be financed rationally in this year.

(China IP News)