On May 5, the Hague Agreement entered into force in China. According to the WIPO Office in China, on the day the agreement took effect, 21 Chinese companies filed 50 applications for International Registration of Industrial Designs through the Hague System. Xinbao Holdings also submitted its first Industrial Design application to WIPO China on this day, actively responding to the country's accession in to the world intellectual property management system, and as part of the group of 21 companies nationwide took the lead in ensuring that outbound trade and investment goes with intellectual property rights at their forefront.

The Hague Agreement comprises of two acts; the Hague Act (1960), and the Geneva Act (1999). The Agreement coming into force provides Chinese applicants with fast and convenient patent protection for industrial designs in the 94 member countries covered by the Hague System. China's accession to the Hague Agreement can help accelerate the construction of an innovative country, and facilitate China's innovative entities in gaining design protection abroad. It will effectively boost opening up and enhance economic competitiveness, creating a better environment for innovation, investment, and business.

Under the Hague Agreement, Xinbao Holdings will also place greater emphasis on the patent layout of industrial design, integrate innovation into the company's development, strengthen the management and implementation of intellectual property strategy, and reinforce the protection. The company aims to develop into a strong intellectual property company and will make unremitting efforts to enable Chinese creativity, Chinese design, and Chinese manufacturing to go abroad and go global.