Core Insights - The second International Forum on Agarwood Industry Development was held in Haikou, highlighting the growth and international collaboration in the agarwood sector [1][2] - Hainan's agarwood planting area has reached 150,000 acres, with 14 large-scale planting bases and several enterprises obtaining geographical indication trademarks [1] - The establishment of a price index for agarwood in Hainan aims to provide a market-oriented approach for the industry [1][2] Industry Development - The forum featured cooperation agreements among various domestic and international agarwood associations, promoting sustainable development and knowledge sharing [2] - Hainan's Forestry Bureau is focusing on the entire industry chain, including breeding, planting, processing, and trade, to enhance the quality and scale of agarwood production [1] - Several agarwood processing projects have been signed in Hainan, with ongoing global investment attraction for projects like cultural industry bases and international trading centers [1] Market Dynamics - The establishment of 10 agarwood enterprises as data collection points for the agarwood price index will provide valuable market insights for both China and the global agarwood industry [2] - The release of the China Agarwood Price Index report serves as a precise indicator for the industry, aiding in the healthy and orderly development of the agarwood market [2]