Chongqing: Medicine Loan Granted

Chongqing: Medicine Loan Granted


Chongqing Pharscin Co was granted a 20 million yuan ($3.24 million) loan from a local bank after pledging three medicine invention patents. It was the biggest IP loan in the city's medicine industry. The three patents were valued at 60 million yuan by a third-party evaluation company. It took a month to value the patents and get the loan, said the company's founder You Hongtao.

(Source: China Daily)

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