The State Intellectual Property Office initiated a second round of its pilot Intellectual Property Rights (IPR) financing program this year.

The initiative will allow six Intellectual Property (IP) administrations in Chengdu (Sichuan), Wuxi (Jiangsu), Wenzhou (Zhejiang), Yichang (Hubei), Guangzhou (Guangdong) and Dongguan (Guangdong) to begin the program in their regions.

This year's program began in September and will be completed in three years. The regions will design programs to ensure the efficiency of IPR financing for small and medium-sized enterprises (SMEs) and promote efforts to commercialize SME innovations.

The initiative was first introduced in 2008.

(Source: China Daily)