Hong Kong’s IP Hub Ambitions Require Sustained Investment and Coordination, Say Experts

By Editorial Team

Hong Kong's aspirations to establish itself as a prominent intellectual property (IP) economy necessitate continuous investment and improved coordination, according to industry experts and analysts. The recent budget announcement outlined plans to transform the city into a regional IP trading hub, emphasizing the need for clearer strategies and long-term commitments.

In his budget address, Financial Secretary Paul Chan Mo-po highlighted the government's goal to bolster Hong Kong's position in IP trading. This includes refining tax regulations, facilitating financing, and cultivating talent to foster higher value-added industries.

SK Lam, founder of creative studio AllRightsReserved (ARR), emphasized that IP encompasses more than just characters or cartoons. Lam stated, "IP functions as a brand, contributing to value creation and enhancing a city's distinctiveness and appeal." He highlighted the importance of transforming IP into products, events, and immersive experiences.

AllRightsReserved is renowned for its large-scale public art installations, such as the iconic "Rubber Duck" sculptures in Victoria Harbour and the "100% Doraemon & Friends Tour" exhibition in 2024, which drew approximately 5 million attendees.

While Hong Kong has excelled in IP trading and commercialization, developing original IP demands substantial time and resources. Many businesses have opted to adapt or leverage existing global IP due to the intensive investment required for creating new intellectual properties.