 Welcome to this session on intellectual property in the information age. My name is Annabel Gonzalez. I am the Senior Director of the Global Practice on Trading Competitiveness of the World Bank Group, and I will be your moderator for this session. Businesses, entrepreneurs, and individuals have used information, knowledge, and ingenuity for many years to create new products and new services. However, the information age is different from the past in many ways, but at least in three key ways. First, the information age has created a borderless world where companies and countries can enter new markets and compete, but they can also collaborate, and collaboration is a very important feature of this information age. And governments have aimed at strengthening and amending their intellectual property regimes and aligning them with good policies in the areas of innovation, investment, and competition policy. And they have also aimed at promoting the private sector having access to a wealth of information that is being produced in the information age. Second point that I'd like to highlight is that one hallmark of the information age is the explosion in the production of digital content. Technologies such as broadband networks, mobile phones, and the internet are just three examples of which have changed business models around the world. Time-tested revenue generation strategies that were used by large companies before in the sectors such as music, or film, or TV, or publishing are no longer rendering the results that they were producing before. Consumers are no longer just passive users of digital content, but they have become active producers, generators of this digital content. And of course, social media has become an ubiquitous platform to share digital content. Interestingly, intellectual property sometimes has been characterized as an impediment in the information age because it is seen as creating proprietary obstacles to open innovation and shared collaboration. Yet, intellectual property may actually be a critical tool to help govern and facilitate open innovation and shared collaboration. Now, investment in innovation and intellectual property are extremely important drivers as well of diversification and upgrading in global value chains. So this actually opens important opportunities for companies worldwide, and in particular for small and medium-sized enterprises to connect to global value chains and to become global. So as the information age continues to evolve, countries are constantly seeking new ways to exploit their knowledge and to position themselves globally. Today's session will try to shed more light on how intellectual property mechanisms and international constructs serve us in this interconnected world, and how the protection of intellectual assets can actually keep pace and yield new benefits. So we will be touching on a number of issues, including technology transfer, intellectual property collaborative efforts, how digital content can be appropriated in an era of open innovation, what is the contribution of intellectual property to innovation, wealth creation, participation in global value chains. So to help us understand this issue further, we have with us a list of distinguished panelists today. We have Ms. Arancha Gonzalez-Laja, the Executive Director of the International Trade Center in Geneva, who is a champion of the internationalization of small and medium-sized enterprises and is promoting from the ITC a number of very interesting programs related to creative industries, ethical fashions, and others. We also have Mr. Francis Gourry, who is the Director General of the World Intellectual Property Organization in Geneva, who has been leading WIPO since 2008 and actually was re-elected last year and will be with the organization until 2020 and has the task of leading the organization through major challenges related to technological change to globalization and to increase in demand among others. We also have Mr. Shen Chengyu, Commissioner of the State Intellectual Property Office, CIPO here in China. Mr. Shen Chengyu has been leading CIPO through a new phase of strengthening legislation, improving property systems and intellectual property protection, to encourage innovation so as to support economic development under the new normal. And last but not least, Mr. Liu Jiu-Rin, Chairman and CEO of New Soft Corporation here in China, the largest China-based company providing IT solutions and services and the largest outsource firm in China. So let me kick off this session by asking each one of you to address the following core question, which is how should intellectual property systems adapt to an interconnected world? And let me start with you, Arancha, to hear your views on this topic, please. Well, to me, the biggest characteristic of the interconnected world in which we live is the fragmentation of production, both of tangible and intangible production. And this is in a constant quest for value addition, which is the new norm of what was before probably called industrialization. Now, in this new norm of which innovation, constant innovation, co-creation, aggregation of innovation, for me the biggest question is the questioning of the concept of both intellectual and property. Whose intellect? When we are faced with a co-creation with a constant innovation over an original idea, whose intellect is it that we are going to protect? The second fundamental question that I see is the notion of property. Which property are we going to protect when we are faced with a process and not an endpoint? So I guess it's more maybe that I have questions about the names that we use. And I don't know whether I'm saying something that is going to be anathema to Francis. But behind this choice of names lies a philosophy that in my view we have to dust off a little bit in the 21st century we are in. Thank you. Thank you very much, Arancia. Francis, your views. Thank you, Annabelle. Well, look, I would say that intellectual property is actually an extremely flexible instrument. What it does economically, basically, is create of access, make access a saleable commodity. That's the basis of markets. That's how you get technology moving about. That's how you get digital content moving about, is you can sell access. So that's its fundamental economic role. And there are many, many ways of using it. I think the 20th century way of using it was exclusivity. We want it. We'll keep it. But we've seen lots of examples. So let's take one example of the creative commons, which is a new model or open source. I think these demonstrate that, well, it's your property, and you can use it exactly how you'd like. Or take it on Musk, giving to anyone free use of his patent portfolio in respect of electric cars, which happened earlier this year. Why did he do that? Well, nobody's quite sure. But one of the reasons he did it is to create the market. More people using the technology, the better. So it's a very flexible instrument. And I think we are seeing different uses of intellectual property in the information age. There are, however, adaptations that the system is going to have to make. Perhaps the biggest that putting it as wide as its largest point, I think we have the fact that, as an historical legacy, we have intellectual property systems that are national. And we have economic behavior, which is global. And technology use, which is global. So how do you adapt, basically, national systems to facilitate, as Premier Li Ke Cheng said this morning, global industrial production capacity to facilitate the global value chains to do all of this. And it requires us to appreciate the flexibility that is built into the institution of intellectual property, but to appreciate that people are using it in different ways in the information age. And it's not necessarily a bad thing. There is a diversity of models that are possible. Thank you. Thank you very much. Commissioner Shen, your views. So thank you. As we mentioned, the intellectual property in the information age, I believe that information certainly brings challenges as well as opportunities in this connected world, and also has revitalized the information age. I believe that talking about challenges, I believe that in terms of intellectual property protection, as I mentioned by previous speakers, indeed, in this information age, there is no border or no border lines for the intellectual property. And also, we have the virtual reality. And also, we have talked about the online offline intellectual property production. And this is indeed the challenge for us, especially we have the e-commerce development. In the connected world, we have the tangible and intangible products. And also, the sales of such products have now exploded. And therefore, the intellectual property protection has become a very hot point. And this is indeed a very important area. Therefore, we are now facing challenges in this regard. Therefore, in the information age, I believe that we are also faced with some of the opportunities and new energy in this regard. Actually, we are now having the connected economy developing rapidly. And China is also implementing its internet plus strategy. I hope that we have the internet plus production, internet plus innovation, internet plus e-commerce. So intellectual property plays a very important role, because internet is a knowledge-intensive area. Therefore, intellectual property plays a vital role in this regard. At the same time, it has also put new energy in this information age. And as we can see for the patent application, for the top 10 applications, I believe that for China, about seven enterprises, they are from the IT sector. So therefore, this is a very active sector. At the same time, it provides a very good platform for the intellectual property protection. And for the application approval, we are also based on the online application. About 90% of applications are now being approved online. So I believe that for the information age, therefore, we are faced with challenges, as well as opportunities for the IP production. Mr. Liu, your views on this? If you look at the changing of this world, especially more and more the technology from the physics to be more virtual, so that generate a more big challenge to the governance protection, even to sharing those kind of IPs. And because if you're talking about the sharing economy, a lot of people, they try to, like somebody, sharing their IP without paying, free of charge. So the purpose is they want to get a more market share. The purpose is not don't want to protect. They want to get more benefit. But the sharing means their IP will be got more contribution from third party. If you look at many of today's business model, it's a contribution by third party. They just use a small trigger. And then a lot of people contribute to this, like their business got bigger. So in that case, it's a little bit hard to say, what is the value of the IP? The IP is from a founder, inventor, or from the others. So that makes the IP creation from most before it's corporate or individual, the person's but now IP, I can say, a little bit of commodity. So every day, they create a lot of IP, but they have no concept to protect that. A lot of people use that. I take a picture. I use a VChat to send. A lot of people use my picture to send somebody else. It's my IP. But now people make clients to use my IP. But this is the work. That work is a big challenge is, what is the future governance of IP? So how to think about protection or sharing? How to use that IP to encourage the social development, technology development? I think those kind of approach, the cooperation or thinking about new governance in new internet age is a challenge to everybody. All right, so we're talking here about the information age, posting new opportunities and also new challenges for the intellectual property systems. Let me now ask you, Francis, a little bit more on this element of collaboration in the information age. And basically here, I think that as countries prioritize intellectual property development, the value of collaboration is becoming increasingly evident. And engagement in the IP landscape is making cross-border cooperation easier. So can you share with us what are some collaboration models that we are seeing emerge in this space? And in particular, in bilateral and international technology transfer initiatives, what are some of the things that you are seeing today? So let me start with the public sector. I think that we're seeing in amongst intellectual property offices around the world much greater collaboration to improve the quality of the information on which decisions can be based. And I think in particular, Commissioner Shen, in this regard, for his very constructive attitude and Cypher's constant constructive attitude, that's extremely important. It's extremely important that we have decisions that are of high quality and that are consistent for enterprises. They don't want different decisions in every part of the world. Then moving to the private sector, well, I think in the enterprise sector, there is always a tension between on the one hand competition and on the other hand collaboration. Now, I think that actually intellectual property is a currency. It's a form of currency that can enable collaboration and it can enable or it does enable competition. It works in both ways. And I think it's very important to appreciate its flexible nature and to appreciate that people can develop it in whichever way they like. As a very, very, very broad generalization, I think that what we are seeing is an increasing tendency to move from strict exclusive ownership models to access collaboration. Now, the most, I think, prominent example of that is in the digital content market. If you recall, when digital content was first made available on the internet, there was a great resistance on the part of the owners of content. In fact, there was very little legal content available in the very early days. Then I think Apple and iTunes changed that somewhat, but they built their model on the basis of an analogy to physical products. They bought a soul. And we know in the intellectual property field you don't actually own anything ever. It's a license, but people bought songs and they had the same notion of building physical libraries. Now we see, I think, with streaming and subscription models that what people don't want to necessarily own anything, they want access. So they get access for a subscription to basically the global repertoire of music. And intellectual property, I think, facilitates all of that. The task before us is to build, I think, construct the global digital content marketplace. That's largely for the enterprise sector to construct, but we do need to make sure the right balances contained in that between, on the one hand, producers of content, on the other hand, consumers. On the one hand, the capacity to exploit the exclusivity. On the other hand, you know, taking advantage of the greatest democratization of knowledge and culture that we have had since the invention here of movable type. So it's an extraordinary opportunity and I think intellectual property provides the currency and views flexibly. It can create the appropriate, you can build on the basis of the appropriate business models to do exactly what you would like to do, whether industrial collaboration or cultural and content collaboration. Thank you. Thank you very much. This brings me to a question, Mr. Liu, that I'd like to pose to you, which is, is there still a strong tension between lucrative digital content creation and the many open collaboration, open source platforms that proliferate today? And also, has the boom in user-led content development and online content sharing changed the model for value generation and content protection? Francis was alluding to this. I'd also like to hear your views on it. I think that is because of connectivity. It's because now access to digital media, the price got lower and lower, produced the copy of content or music. It's become more cheaper and cheaper. So because of those kind of ways, like the people, the owner of that IPO content, they like to approach different kind of models. So, you know, in China, if you look at most of the owner of content, they like to share it. The sharing with a telecom company, I can give you an example. In a Chinese New Year, you can write a small piece of a joke. That joke is text message. The text message, one year, Chinese New Year, maybe came by parts of one million or hundreds of millions of time, and then the authors can charge a little bit for each of them, but the telecom company can make a lot of it, because it's a joke, every people, I got one, I passed another 100 people, and then it's just one night. They can make 100 million RMB. So those kind of new models are still creating new kind of business models. I think it's just the beginning. So that is not only for the content, it's becoming ecosystems. So, you know, the difference, the party, they're working together to sharing about that. Open source is one of the dedicated, you know, the very such cases. One, they promote the industry, social development. Another one, I think all contributors also benefit those kind of sharing. This leads me also to another question which I would like to ask you, Commissioner Shen, which is how to use intellectual property to add value to innovation, which was precisely what Mr. Liu was referring to. And in particular, how do you think that intellectual property can contribute to the development of the IT sector? These are great questions. IP protection is the original driving force for innovation. When we talk about science and technology innovation, there are usually two driving engines. One is driven by the government, like for some basic scientific studies and those studies that are for the public benefits and also for the aerospace study. Like in China, when we send these aircrafts to explore the space, these innovations are usually driven by the government. And on the other side, market is also another, the other driving engine. For innovation either driven by market or government, they cannot be separated from a sound intellectual property system. When we use these tools properly, we can promote innovation. So this might be one of the driving forces for innovation. When we protect intellectual property, we are also protecting the innovation. This is also true in the information age, especially the IT sector might be the most active sector among all the industries. So we cannot live without intellectual property when we want to promote innovation in IT sector. And just now we've also touched upon the point that IP will promote the value addition, the added value of the entire industry chain. We will empower the innovators with their ownership and also their use of drugs. And also the economic benefits when they transfer the IP to other parties. IP system in itself is an incentive to innovation by protecting the rights and interests of the innovators. Also it is a market mechanism. There are rules about the transfer of IP, especially in the market environment and liberalize the market. A sound IP system will be beneficial for whatever sectors in the entire economy. It is a driving force from the very beginning. It can also help the translation and also transfer an application of these inventions. Thank you very much. Very interesting comments. We've heard in terms of some of the challenges that the information age poses to the governance of intellectual property. We've heard of the opportunities, as Commissioner Shen was mentioning. For you in the audience, please begin to think about this. Thanks because I will come back to you in a few minutes to ask you for your questions to our panelists. Before doing that, however, I'd like to come to you, Arancia, and ask you from the perspective of small and medium-sized enterprises, what are the opportunities that you see that the information age brings? First, let's start with the SMEs, which represent more than 90% of the economic tissue of any country. And this is true in the north, in the south, in the east, and in the west. And for SMEs, the digital economy, the internet-based business practices, innovation is the bread and butter. It's not just an add-on. It's the essence of where they are today, whether it is to source funding, whether it is to sell or to buy in marketplaces that are digital more and more, whether it is to access consumers, whether it is to organize their businesses, whether it is to outsource, whether it is to innovate. And all of this is closely interlinked with intellectual property. Add to that that a big part of adding value, as we've just heard, and not just in the IT sector, but thinking in a sector where there are so many small and medium enterprises, such as agriculture, agro-processed products, a big part of this has to do also with intellectual property, whether it's with branding, protection of geographical names, and so on and so forth. I see two big challenges for small and medium enterprises. One challenge is linked to the business model. We've just heard that the borders in the activity are very porous. The borders in the intellectual property are very porous. So one challenge is how to align the business models to the intellectual property of vice versa. Second, it's the challenge related to the size and therefore the ability of the small and medium sector first to benefit from the protection that the intellectual property affords, but also to make sure they don't infringe the intellectual property of somebody else. This is something we are seeing, for example, in the fashion industry with amazing prints being created by people who don't know that those prints, original creation, can be protected, but also with creators infringing somebody else's designs. Now, I think part of the answer has to be in simplifying procedures for small and medium enterprises, in reducing costs, in fast-tracking enforcement, and maybe, and Francis alluded to this in his opening remarks, in multi-jurisdiction protection, one that is streamlined with the activities of SMEs that certainly today are cross-border, especially in the IT sector. Okay, thank you very much. Well, we've heard a lot of very interesting things from our panelists, so let me now turn it over to you in the audience to see whether you'd have a question that you would like to pose to any one of your panelists. And if I may ask you to please say your name and identify yourself when posing the question. Yes, please. The microphone is coming to you. Yes, I'm from China Daily. I want to ask a question to Mr. Shen. So, in the 13th fifth year plan, what will be presented in the plan? As we mentioned, the 13th fifth year plan, this is something we are being formulating, and we are still in the process of formulating. And I can give you some tips. Certainly, we believe that we will focus more on the IP protection. As we talk about IP, we certainly will focus more on the IP protection as well as the services and also different areas. The whole focus is the protection and applications like the autumn. If we have the four wheels, and now we have the two driving wheels, therefore we focus on the application and the protection, which are the two driving wheels. The other thing is that in the 13th fifth year plan, we also emphasize on the ownership of 10,000 people. So still, we need to further increase this figure. We also need to focus more on PCT International IP application. Generally speaking, I believe that we have quite a large number of domestic patent applications, and we don't have too many PCT International patent applications. Many enterprises would like to go out and compete internationally. Therefore, we need to put more focus on international IP protection, and also we need to focus more on the ownership of IP of those large-scale enterprises and the sales of more than 100 million RMB, and we certainly will try to increase it for the application of more than 0.7 application enterprise. But generally speaking, I think that the government, the central government will put more focus on the innovation-oriented economy, and we hope that we can integrate IP in the economic and social development. Very much. We have another question here, and then we have two questions on this side. Thank you. My question is, I want to ask Mr. Liu, Liu Jiren. Actually, I hear you mentioned a lot about WeChat platform and the text messages. This is very popular in China. So actually, myself is operating WeChat platform and I write articles on that platform. Actually, Tencent have a very big and good copyright protection system for the original articles. And actually, for one year, there will be maybe tens of millions of articles, but they had an automatic tracking system that if you send an article first, the other one will copy you, they will identify that as a copycat. So my question is, is there any possibility for Alibaba, Tencent and Baidu to leverage their platform to help the intellectual property protection? Is there any way for the public and private cooperation in that part? I think it's a brainstorm question. Maybe the chief, Mr. Shen, also can answer that question, too. Thank you very much. That's a very interesting question. So Commissioner Shen, would you like to take a stab at it? So can you ask a question again? Indeed, on the WeChat platform, we actually have many articles published. So how can WeChat protect this article if you are the original publisher, then if somebody else copies your article, then it has the automatic tracking system. So I believe that the whole system is indeed very advanced. So I believe that for Tencent, for Alibaba, for Baidu, they have very good experience. And can we leverage such experience in order to have the IP protection? I believe that with the government only, we cannot have very good IP protection. Can we have the cooperation in terms of the public and private sectors in IP protection? Indeed, this is a red-hot question. I believe that first and foremost, in the information age for the IP protection, I think that we are facing a lot of challenges, especially in the Internet age. I believe that for the infringement on the IP, one of the features that has a very rapid speed of delivery, and also all the evidence of infringement will disappear in a second. And again, as we said just now, that has no borders, no boundaries, and also has the online offline infringement. Therefore, we need to look at very carefully and how can we have the technology in order to protect the IP in the information age? At the same time, we also believe that here we believe that in order to solve this issue, we need to focus on the three aspects. The first one is that we need to look at the Internet. In the Internet, how can we have the balance of the IP protection interest for the IP protection? I believe that we encourage innovation with the IP protection. We also try to encourage the transformation as well as the delivery of technology. Therefore, we need to have three balances, first is the owners and also the service provider and also the general public. We need to have the balance between these three stakeholders. Therefore, we need to look very carefully on the balance of the interest of three stakeholders. In the Internet age, we need to enhance international cooperation because there are no bonds, no boundaries in the Internet. Therefore, for the infringement of the IP, it is very rapid in terms of its scaling up. Therefore, we are protecting IP on a large platform. In here, I believe that the third point is that how can we develop the new techniques for the IP protection, including some of the techniques and technologies, including those which have been mentioned by you just now in your question. Also, aside from that, we also need to focus on the administrative protection of the IP because, as you mentioned, the infringement, because it happens just in a second and it can disappear in a second. And administrative protection of IP is cost-effective and also very rapid. Therefore, we need to display the role of administrative protection of IP. I'm not pretty sure that I have answered all your questions. Hopefully, I have. We had two questions here. Please, can we have the microphone? Hello. My question is directed to Ms. Gonzalez. I'm from South Africa, and I promote fashion designers and other creative people on the continent. And part of our work we've found has been in educating young designers firstly avoiding copying from the global market, European designers that they see, but also to teach them to protect their own IP. The challenge, and I'm wanting to understand how your organizations can help these young designers lack of knowledge, but also lack of resources in enforcing or even registering their IP and then making sure that it is protected. There's a lack of knowledge and also lack of resources to fight the big, particularly the big retailers who can very easily take the property of young designers who are ignorant and produce it at mass scale. And we've seen this happening very often. And then my other question maybe to the panel, and I'm sure this you've addressed has been, I'm from also the medical profession and in medicine there is the Patency Law where you get protection over 20 years if you discover a drug, and then other smaller players are able to benefit from that. In intellectual property protection, do we have something like that where those who discover first allow others to come in and benefit from what has been discovered and therefore also help those that have discovered to further innovate and drive the innovation? Thank you, thank you very much. Rancho if you want to take the first question and maybe Francis you can take the second one. I mean on the first question obviously it starts with the regulator. It starts with the regulator also having the capacity in the country in question to implement internationally agreed legislations that would protect this creation and helping the producers or the actors in the country respect the rules but also take advantage of the rules. It's something that Francis in WIPO has been pushing very hard with a development agenda that supports regulators and it's something that we are doing together with his organization in the International Trade Center to address the specific needs of capacity building of the small and medium enterprises again for whom intellectual property can mean a huge difference in the price they can get for their creation, for their production, for their services. Thank you, Francis. Okay, so for the second one well you've probably touched on the most sensitive area of all for intellectual property because health and intellectual property I mentioned at the outset that what intellectual property actually does is creative access to sustainable commodity and that facilitates market on the one hand on the other hand it raises a lot of questions about cost of access, possibility of access and these are the questions that are raised in particular in the health area access to medicines and it's extremely sensitive there is no agreed international position in fact the international position in the TRIPS agreement is really reserves a large amount of discretion to the national legislator to determine its position in relation to these issues but leaving that and going to I think your other the other part of your question which is that really related to disclosure one of the functions also of the intellectual property system is to get technology disclosed so that it is not kept secret you know I could give you the example of the saxophone, you know the saxophone is an instrument as a musical instrument was patented in 1842 by Adolf Sax and across the next 20 or 30 years there are about 17 other patents on different sorts of mouthpiece different sizes of saxophone and so forth all of that is in the public domain anyone can make a saxophone all of that information is there anyone can build upon that in the medical field you can compare that with the violin where the transmission of knowledge was family based secrecy the very best violins were made in Italy in the 18th century and nobody knows how there's still lots of experiments going on to try to discover whether it was the resin what it was so disclosure is very important because it adds to the library of human knowledge and creates the possibilities for others to work on that basis and the exclusive right is limited in time thank you, thank you very much we'll take another question here my name is Lina my question is also related to hers with regards on the SME perspective because for a lot of the SMEs that I have been in touch with I think one of their main concern is actually with regards to cost because if I am in country in places like Singapore and then I have to file my IP and when I go into the other region actually I run the risk because for some other countries the intellectual property rights cannot be established so the question on cost and also in terms of accessibility because at the end of the day they were telling us with regards to the cost and access sometimes it goes into the pocket of the IP lawyers and even for myself that is also partly trained in law I also realised that the IP world is in fact very onerous very difficult in fact only just word mark sometimes you can get into issue and Mr Shen said you should use it but some people actually misuse it in the sense of Lan Yong so how can we actually help and provide a better environment for the SMEs as per say with regards to cost and also accessibility thank you thank you very much quick comment on this topic I think this dimension of the small and medium enterprises is becoming more and more prevalent in the trade negotiations and the manner that affects intellectual property as it affects rules to facilitate trade as it affects trade in services and the manner in which we are going to be regulating that there is a drive and I think it comes from the realisation that there is a big untapped growth potential in the SME part of our economy but this requires the legislator to better understand the needs of the SMEs both in the laws as well as in the regulations that are put in place to support SMEs cutting the cost simplifying administrative procedures fast-tracking enforcement procedures if a small and medium enterprise has to spend millions of dollars litigating in multiple countries is not going to do that and finally a protection that is multi-country as opposed to country-based in my view these are some of the areas where I would see I would like to see the legislators exploring and pushing the boundaries Francis, a quick word on this Annabelle, I agree with Iransha I just wanted to add one point if I may the main cost for intellectual property protection is not what you pay the State Intellectual Property Office or WIPO for the PCT it's lawyers and patent attorneys that's the predominant cost that you're paying and then the second main component of cost is translation because you're going into multiple jurisdictions and you're translating into that and then comes the state administrative fees that are charged and they're less than 1% of the cost of international patenting so it's actually a very difficult policy question to deal with because you can deal with the 1% relatively easily but you can't deal with this other lot very easily and you can deal with it as Iransha has said through simplification so make the lawyer less relevant as a lawyer I was a lawyer once alright so thank you very much we're going to take a last question from the audience please, we have a microphone here please thank you Madam Chair I'm from Economic Journal Economic Daily I have a question for Mr. Shen we are in an information era it is also the era of big data will big data bring convenience or difficulty or complexity to intellectual property protection how can we do a better job in the big data era well I agree with you in saying that big data will exert major impact on intellectual property landscape we talk about big data cloud computing and the internet plus and also platform economy all these four areas will have major impact on intellectual property landscape especially big data from its creation protection governance and service all these areas will be influenced by the big data era an example to be shared here intellectual property protection involves enormous data take patent for example in China patent literature has exceeded 90 million now it is approaching 100 million and we've set up literature exchange system with many other countries so among this enormous data how can we find effective use of and valuable information how can we dig this useful information we have to resort to big data big data helps us to find the right data to do the follow up analysis and use it I've talked about patents patents have close relations with the overall economic landscape and also the legal sector for governments for business and also for universities and institutes these data are of great value for example governments can leverage big data to make more informed decisions businesses can leverage big data to analyze the patent market to make a future market plan and this information will also help the enterprises to make R&D decisions universities and institutes can leverage the big data to enhance their research efficiency then the next question is how can we find the useful information among the big data again we have to resort to this useful tool to do the digging and the analysis this is similar to for the protection of intellectual property rights we need to leverage big data as an effective tool to better protect intellectual property it helps us to save the cost reduce the cycle of reviewing and approval so little time we are approaching the end of our session so I'd like to ask you what final reflection you would like to leave with us in two minutes and I'm going to give you two minutes and the rest of you for your final reflections in one minute because you have spoken a bit more so Mr. Liu this is very important topics especially for today's channel when we make big transformation from manufacturing country oriented to be more knowledge based country economy so we must be understand and respect the IP and to know how to communicate with the partner to sharing the IP with all the stakeholders I think that is the only way we can be a global member in the knowledge society or the internet society thank you thank you very much for bringing us back to the big picture around this thank you Mr. Liu any final words what Mr. Liu Well the greatest point that I should take home is what Mr. Francis Gary has talked about if we look at the entire production chain of the products intellectual property is important in each link along this chain in the past we had the misperception that towards the higher end of this chain intellectual property might be important however nowadays intellectual property right is equally important throughout this chain Mr. Gary well I would say you know the creating the right facilitating environment so the gradual adaptation of territorial systems to the reality of global economic behavior where we get the right balance between competition and collaboration and where we have a supportive or enabling or facilitative environment for this collaboration that can take place and that can enrich the world thank you very much Aranya for me it would be think intellectual property for small and medium enterprises think of how you are going to support them using this as a tool to be greater participants in value addition and in that promote methods of shared value especially when it is about collective creation and collective innovation thank you all very much for your insights it is clear to me that the information age has put in front of us a big quest and that quest is a quest for balance balance that needs to be achieved in a new context under new situations with new stakeholders performing different roles and this is still a work in progress so thank you all very much for sharing your thoughts with us and thank you all in the audience for participating thank you