Small and mid-size businesses in Chaoyang district will receive government support when applying for bank loans using intellectual property as collateral.

The district's intellectual property office has signed agreements with the Bank of Communication and the Bank of Beijing to support companies with less than 400 million yuan in total assets or 300 million yuan in annual sales in the district.

When eligible businesses use patents, trademarks or copyrights as collateral for bank loans, half of the fees and loan interest will be paid by the local government.

Qualified companies are eligible for a subsidy of up to 500,000 yuan annually.

Beijing Daily

(Source: China Daily)