31.8 Billion Yuan of Patent Pledge Fuels Entrepreneurship

2017/08/17

"It is really beyond our expectations." Recently, a person in charge of Qingdao Lasence Co.,Ltd in Shandong province was greatly inspired after obtaining the patent pledge. A loan credit amount of 80.6 million yuan was recently granted in Qingdao by the agent of Qingdao IP Business Centre. The first group of 23 enterprises received combined 77.6 million yuan by patent pledge. A new type of insurance called patent pledge loan guarantee insurance was established by the China Insurance Regulatory Commission, and would be promoted to the whole country after initial test in Qingdao.
According to the latest data from SIPO, in the first half of 2017, 31.8 billion yuan of patent pledge was added in China, with a year-on-year growth of 92%. 1,493 patent pledge projects were confirmed, with a year-on-year growth of 41%. Liaoning, Jiangsu, Shandong, Beijing and Tianjin led all provinces in amount granted while Shandong, Shaanxi, Anhui, Jiangsu and Guangdong were the top five in number of projects.

Source: SIPO