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  • Peter Kam Fai Cheung SBS

A New Gold Rush

I have been to Hainan a couple of times for its tropical feel, its coconut juice and chicken rice. In April 2018, I learned from the media that the senior leadership meant to transform the whole island into a free trade zone. Through the Greater Bay Area collaboration, I was speaking in a conference on "Securitization and Credit Guarantee" - in the intellectual property context on June 25, 2018.

Intellectual property is generally embedded in goods or services eg the patented technology to support them and the trade marks to identify them. Unlike other conventional tangible property such as stocks and land, intellectual property does not have a high volume of activity in the market yet. Securitization together with the requisite credit guarantee, should enhance intellectual property's liquidity.

Beijing has recognized the Hainan project on securitization and credit guarantee in the intellectual property context as a special purpose vehicle to uplift China's Hawaii. The challenge upon the local administration is how to enhance its capacity and support to deliver the impact timely. The structured values proposed in the conference have become the "Hainan Consensus".

The Consensus covers: (1) Development Goal, (2) Strategic Positioning, (3) Unique Project, (4) Creative Concept, (5) Industrial Revitalization, (6) Win-win Financing, (7) Applied Technology, (8) Entrepreneurship Ecosystem, (9) Risk Prevention and (10) Visionary Pursuit. I observed that stakeholders within and outside of Hainan were anxious to capitalize on the project. A new gold rush has begun!

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