Visitors take photos of ocean-themed cultural creations during the International Copyright Fair 2019 in Qingdao, east China's Shandong Province, July 5, 2019. The three-day International Copyright Fair 2019 kicked off Friday in the coastal city of Qingdao. (Photo by Liang Xiaopeng/Xinhua)

QINGDAO, July 5 (Xinhua) -- The International Copyright Fair 2019 kicked off in the city of Qingdao in eastern China's Shandong Province Friday.

Guided by the National Copyright Administration of China and organized by the provincial copyright bureau and the municipal government, the fair will last until Sunday.

Eight projects, including the establishment of a 10-billion-yuan fund focusing on intellectual property (IP) industry and an animation industry fund, worth around 2 billion yuan (290 million U.S. dollars), were signed at the opening ceremony on Friday.

"In the new era, copyright and other IP rights have been playing more important roles in the development of the economy and society," said Yan Xiaohong, president of the Copyright Society of China, adding that the fair attracted more important international and domestic IP products and institutions.

Diverse forums featuring IP rights and exhibitions will be held during the fair, which attracted 156 enterprises.

As one of the exhibitors at the fair, the Palace Museum displayed 513 products, including lipsticks and silk products.

"The patterns on the lipstick cases were inspired by the museum's collection of ancient clothes and the lipsticks' colors came from some of the museum's porcelain wares," said Yang Xiaobo, head of the museum's business management division.

The Palace Museum, which has a collection of around 1.8 million historical relics, had designed nearly 12,000 products and developed over 50 product lines as of the end of 2018.

"Over the past 40 years of reform and opening-up, China has set up an IP system that both fits in China's reality and is in line with international rules," Yan said, adding that China will strictly protect all kinds of IP, and ensure proper promotion and application of innovations.