Shenzhen is set to launch Asia's first equity index on technology patents next year - a step ahead of Hong Kong, which has been fighting to become the region's trading hub on intellectual property assets.
Ocean Tomo, a Chicago-based merchant bank that is helping the Shenzhen government to set up the index, said two cities - one from Europe and another from Asia - would emerge in the next two years as the region's trading centres of copyrights, patents, trademarks, and franchises.
Chicago is the centre for North America. In Asia, Hong Kong is competing with Singapore, Beijing, Shanghai, and Middle East cities to become the region's centre.
But while Hong Kong says it has an advantage because of its rule of law and existing role as a financial hub, the city lags Singapore and Beijing in its ability to grant patents.
For instance, patent applicants in Hong Kong will have their application examined by patent offices in Britain, Beijing, or Europe, as the city lacks an assessment system.
'By this time next year, there will be a much clearer indication of the anchor points of the triangle,' said James Malackowski, chief executive of Ocean Tomo.