CNIPA and BOC Sign a Strategic Cooperation Agreement on Enhancing IP Financial Cooperation
Updated: 6 29,2021

The CNIPA and the Bank of China (BOC) held a signing ceremony for a strategic cooperation agreement in Beijing on June 21. The CNIPA Commissioner Shen Changyu and the BOC Chairman Liu Liange attended the signing ceremony and each delivered a speech. Zhao Gang, Deputy Commissioner of the CNIPA, and Wang Wei, Executive Vice President of BOC, signed the cooperation agreement on behalf of the two parties.

Shen Changyu said that the CPC Central Committee attaches great importance to financial support for innovation and real economy, and General Secretary Xi Jinping has made important instructions in this regard on many occasions. Under market economy conditions, innovation cannot continue without IP protection and financial support. The small and medium-sized enterprises (SMEs) are major players of innovation and have a strong need for IP financing. The CNIPA has been earnestly implementing the decisions and plans made by the CPC Central Committee and the State Council. Together with relevant departments, the Administration has issued a number of effective measures to promote IP finance and made remarkable results in IP pledge financing. During the period covered by the 13th Five-Year Plan, the total amount of patent and trademark pledge financing in China doubled to over 700 billion yuan, compared with the 12th Five-Year Plan period. The BOC, with a solid foundation and rich experience in IP pledge financing, have ranked among the top banking financial institutions in terms of funding scale and project number in recent years. The strategic cooperation between the two parties will bring their strengths into full play, further drive the upgrading and expansion of IP pledge financing, boost financial innovation, and better support the development of the real economy.

At the ceremony, the Laboratory for Intellectual Property Financing Innovation was inaugurated in the presence of Shen Changyu and Liu Liange. Wang Wei introduced the BOC's IP financing achievements, while Zhao Gang introduced the main contents of the strategic cooperation. They jointly unveiled the BOC's new loan product Hui Ruyuan • Zhihui Dai. It is reported that the two insitutions will carry out all-round cooperation in six areas, including policy research, data sharing, product R&D, information support, business exploration, publicity and promotion, and will set up laboratories for joint research and product R&D. The loan product of Zhihui Dai is aimed at providing a scenario and whole-chain application scheme on IPR for micro and small businesses engaged in science and technology, which has been piloted in 22 branches.(Translated from CNIPA Website Chinese Version)