2013 witnessed a fruitful year of IPR financial services. Statistics from SIPO revealed that Chinese companies have secured 25.4 billion yuan credit with patent right pledge, up 80%, adding up to a total of 63.8 billion yuan with annual growth rate of 112%, since the pilot projects launched in 2008. Meanwhile, new progress has been made in patent insurance service last year with 530 companies securing their 1,855 patents and 64.38 million yuan have been protected by the insurance.

According to a representative from Patent Administration Department under SIPO, SIPO has enhanced their efforts to provide IPR finance service in recent years to promote the marriage of IPR and finance, further intensifying the advantages of regions and companies as innovators, accelerating growth driven by innovation.

In 2008, SIPO launched the pilot IPR pledge financing program and initiated several rounds in 29 regions, contributing to popularization of this project nationwide. In 2013, patent pledge financing in Guangdong, Beijing, Zhejiang, Hubei, Tianjin, Shaanxi, Jiangsu, Liaoning, Shandong and Shanghai exceeded 1 billion yuan.

Since 2012, SIPO has carried out the pilot projects for patent insurance in 25 regions, relevant policies were introduced in 20 experimental regions. By subsiding insurance premium, purchasing intermediary service, introducing preferential policies and interests rates, providing lectures, survey services, optimizing working process, the pilot region such as Zhenjiang in Jiangsu, Foshan in Guangdong, Baoji in Shaanxi, Wuxi in Jiangsu, Nantong in Jiangsu, have played positive roles in perfecting patent insurance services.

(Source:China IP News)