Agarwood in Maoming. [Photo provided to chinadaily.com.cn]

Greater importance will likewise be attached to research and development of new products to expand the industrial chain and enhance added value.

Dianbai district enjoys a topography and climate suitable for incense tree plantation and has long been a tradition for the locals to get involved in the sector, said Shao Yuxiong, general manager of Maoming Hetai Agarwood Plantation Co Ltd, one of the leading agarwood brands in the district.

According to Shao, Dianbai has a history of over 1,000 years growing incense trees, processing and trading agarwood products.

"The industrial status quo and rich experience collecting and processing agarwood products and well-developed industrial chains have laid a good foundation for greater development of the sector," he noted.

Dianbai district alone has more than 10,000 people involved in the agarwood industry, with a plantation area covering over 100,000 mu, local statistics indicate.

The sector generates an annual industrial output of more than 1.5 billion yuan and industrial profits of about 300 million yuan, with products finding great popularity across the nation as well as in Southeast Asian countries.