The Pingtan Comprehensive Pilot Zone, Fujian province recently granted an intellectual property subsidy of 190,000 yuan ($29,000) to eight local high-tech and innovation-centered companies, according to ptnet.cn on Jan 13.

This was the first time the local government has launched such a subsidy. Its aim was to arouse local enterprises' consciousness of and interest in innovation and to create a better environment for technological innovation.

As per a guideline on local IP development fund management, the subsidy ranges from 5,000 yuan to 20,000 yuan and is given on the basis of value of companies' projects.

The guideline came into effect in Sept 11, 2015. It covers incentive plans for patent applications, computer software copyright registration, trademark registration, patent awards and intellectual property model enterprises.

Local authorities said that they expect to set up role models for local companies through such incentives and prompt them to pursue innovation. The authorities also want to improve the capacity to use, protect and manage intellectual property.