Fujian: patent pledge loan comes true in Jinjiang City

On April 6, some enterprise in Jinjiang City of Fujian Province got 3,900,000 loan from Jinjiang Rural Cooperative Bank by pledging its patent rights, indicating that Jinjiang made substantial breakthrough in patent pledge loan.

Since last year, to ease SMEs' financing pressure, Quanzhou Central Bank of People's Bank of China and Municipal IP Office timely issued Guiding Opinions on Boosting Patent Pledge Loan Work of Quanzhou to encourage banks to innovate on their patent pledge loan business. Then Jinjiang City was selected as trial city, and the people's banks and IP departments in Quanzhou City and Jinjiang City recommended S&T innovation-oriented enterprises with invention patents and willingness to pledge their patents to Jinjiang Rural Cooperative Bank. They also directed enterprises to go through related procedures. Jinjiang Municipal People's Government issued Notice on Implementing Interest Subsidy for Patent Pledge Loan to define the subsidy objects and criterion.

Patent pledge loan will promote enterprise to protect and develop their IPRs while the interest discount policy will effectively reduce enterprises' financing cost.