Secretary for Commerce and Economic Development Algernon Yau on Friday said the SAR government is taking forward a series of initiatives to protect intellectual property rights to help develop the city into a regional IP trading centre.

He was speaking after visiting a company in Beijing that had developed toys with proprietary intellectual property that had found success in both domestic and overseas markets.

Yau noted that the effective protection and efficient transaction of IP is crucial to promoting the development of cultural and creative industries as well as technological innovation.

The minister also met with representatives of the China Alcoholic Drinks Association to promote opportunities for wine merchants in Hong Kong following the deduction in liquor duty announced in last October’s Policy Address, which had resulted in increases in both the quantity and value of liquor imported into the SAR.

Yau said Hong Kong could serve as a key hub for trading and distribution of high-end liquor, including Chinese baijiu, and Mainland wine merchants are encouraged to use Hong Kong as a platform for Chinese baijiu to go global.