China has given the green light for a national intellectual property protection centre in a new megacity outside Beijing, a facility that is expected to cut approval times for hi-tech patents by about 70 per cent.Once up and running, the centre in Xiongan New Area would provide expedited patent examination and one-stop intellectual property services for next-generation information technology and new materials, Xiongan authorities said in a statement on Saturday.“[The centre] will help companies to better protect their innovations and accelerate the development of an innovation edge in the targeted industries,” it said.It added that the centre would strengthen intellectual…