Taizhou promotes intellectual property finance for businesses

Taizhou city in East China's Jiangsu province is gearing up to promote intellectual property, or IP, development, encouraging financial institutions to provide IP financing support of at least 1.5 billion yuan ($218.17 million) to companies.

Recently, Taixing Meilan New Material Co Ltd raised 300 million yuan through IP pledge financing, which was the highest amount of IP single pledge financing in Taizhou's history.

A close look at Taixing Meilan New Material Co Ltd. [Photo/tznews.cn]

In addition to financing support, a raft of measures for IP development have been released in Taizhou. For services, Taizhou is aiming to accelerate the construction of the IP promotion center and optimize the process of patent pre-examination services.

For IP protection, Taizhou established a mechanism combining administrative mediation and judicial confirmation, as well as strengthened assistance for overseas IP rights protection.

In addition, the Taizhou Intellectual Property Protection Center has registered 702 innovative entities and received 201 pre-trial cases since it began operation in December 2022. It has carried out patent navigation services and provided patent analysis reports for 79 enterprises.

In the future, Taizhou will continue to innovate and promote IP pledge financing methods to reduce financing costs, revitalize intangible assets, and expand financing channels for enterprises.