In 2013 China achieved remarkable progress in the intellectual property financial services sector. Patent pledges topped CNY 25 billion for the first time, totaling CNY 25.4 billion. This represents an increase of 80% over 2012. Since the intellectual property pledge pilot project was initiated in 2008, patent pledges have increased at an average rate of 112% to a cumulative value of CNY 63.8 billion. Patent insurance has also seen new developments -- in 2013, 1855 patents from 530 companies were insured for a total of. CNY 64.38 million.
The Director of the Patent Administration Department of the Chinese State Intellectual Property Office (SIPO) said that in recent years SIPO has enhanced the intellectual property financial services sector and promoted an intensive combination of intellectual property and financial resources that strengthens innovative development strategies at both the company and regional level.
Since 2008 SIPO has initiated an intellectual property pledge finance pilot project and an intellectual property investment and financing services pilot project in 29 regions. These two projects effectively promote the widespread use of intellectual property financial services throughout China. In 2013 patent pledges in Guangdong, Beijing, Zhejiang, Hubei, Tianjin, Shanxi, Jiangsu, Liaoning, Shandong and Shanghai each exceeded CNY 1 billion.