The Yiwu administration for market regulation revealed on Aug 16 that Yiwu was home to 172,063 effective registered trademarks by the end of June, the highest number among all county-level cities in China.

The latest statistics also show that a total of 5,603 trademarks were registered by Yiwu-based business entities over the first half of this year, up 190.58 percent year-on-year.

Yiwu is often dubbed "the world's supermarket" as it is home to the world's largest wholesale market of small commodities.

"We grant a 1.2-million-yuan ($185,040) award to enterprises that have won the official title of "national famous trademark". The award given to the title holder of "demonstration enterprises for Zhejiang's trademark brand strategy" or "Zhejiang famous businesses" is 200,000 yuan," an official at the Yiwu administration for market regulation told local media reporters.

"A company would receive a 500,000-yuan bonus for its first product that has been awarded a quality certificate entitled "Zhejiang Made" and another 300,000 yuan for its second product to receive the same honor."

The official added that he believes Yiwu's favorable policies have incentivized local enterprises to build up their own brands.

Yiwu authorities have also been consistently ramping up administrative services with regard to intellectual property rights (IPR) protection.

One-stop IPR service windows have been operational near the Yiwu International Trade Market, a colossal wholesale market that hosts a substantial share of the city's commercial activities.  

Earlier this year, Yiwu received approval from the central government to establish a local subsidiary of the National Center for Tackling Overseas IPR Disputes, becoming the first county-level region to be authorized to do so. 

To date, Yiwu is home to 24 "national famous trademarks" and six "demonstration enterprises for Zhejiang's trademark brand strategy".