Wuhai, a city of Inner Mongolian Autonomous Region, has achieved favorable accomplishments in intellectual property pledge financing since the city began to implement a series of IP pledge financing pilot programs from the second half of 2009.

A company in the city has already successfully obtained a five-million-yuan patent pledge loan from the Industrial and Commercial Bank of China Wuhai Branch.

Another two enterprises are having their patents and trademarks evaluated and striving for pledge loans from the bank.

The pilot programs on intellectual property pledge financing are designed to promote IP strategies, facilitate IP utilization, commercialize IP outputs and step up enterprises’ development, as well as to help to resolve SME’s difficulties in financing.

Moreover, the programs which integrate technology and financial resources and provide great financial support to enterprises in indigenous innovation activities will eventually boost the economic growth of SMEs in the city.

(Source:IPR in China)