From January to April, five bank loans worth 49.6 million yuan (about 7,787,200 US dollars) were rendered to enterprises using their patent as collateral in Hebei province, reported by a source from the provincial intellectual property office.

Pursuant to the Twelfth Five-Year Plan on Patent launched by the province, local authorities will dedicate to the implementation of IP strategies and make full use of IP systems and resources to increase the capabilities of creation, utilization, protection and administration and to boost the transformation of economic growth mode.

This year, the province has proactively established and improved financing mechanisms and further developed services of patent pledge financing and trusteeship. Academies, research institutions and enterprises have been encouraged to capitalize on patent transfer and licensing. The practice of creating innovations, advancing technologies and commercializing IP fruits has been greatly supported by several incentive policies formulated and released by local government.

(Source: IPR in China)