The administrative committee of Guangzhou Development District, an emerging industrial center in South China's Guangdong province, has launched new measures to encourage local high-tech companies to widen their financing channels with intellectual property rights.
The measures, which took effect on May 17, will strengthen the use and protection of IP, allowing any high-tech company in the district to pledge their IP as collateral for funds from banks, small-loan companies or financial leasing companies. The companies that do so will have their assessment fees, guarantee fees and insurance fees refunded via government subsidies valued at up to 100,000 yuan ($14,070) for each item.
The government will also subsidize capital repayments and interest annually to the tune of 3 percent, capped at 1 million yuan, for no longer than a year.
"The fiscal support is much bigger than before," said Lan Weifeng, director of the district's IP administration, in a news briefing last week. "We also set up new awards to promote IP securitization."
Source: China Daily
