China will further promote intellectual property pledge financing to
support small and medium-sized enterprises amid epidemic, according to
an official on Feb 25.
Since the outbreak of the epidemic, the
National Intellectual Property Administration (NIPA) has rolled out a
series of measures to facilitate intellectual property-related
businesses and pledge financing, said He Zhimin, deputy director of the
NIPA at a press conference.
"It is a very effective measure for
those small and medium-sized companies, especially technological
companies, to pledge their intellectual property rights for funds and
tackle their financing strain," He said.
He said the NIPA has set
up a green channel for IP pledge financing registration, shortening the
electronic registration period to one working day. It has enhanced
investigation on the demand for intellectual property pledge financing
and coordinated with banks to grant loans or renew loans for those
He gave an example of intellectual property pledge
financing, saying that an enterprise producing emergency medical
materials in the city of Dongguan, Guangdong province has received a
loan of 15 million yuan (about $2.14 million) by pledging its three
patents, thus enhancing its production capacity.
property office in Jiangsu province has set up a special project for
intellectual property pledge financing, and 37 enterprises in the
province have obtained pledge loans of 114 million yuan since the
epidemic outbreak, He said.