The Zhangzhou branch of Bank of Communications signed an agreement with the city's IP administration last week to issue patent-collateralized loans and help local companies raise needed capital.

The authorities will also offer financial support to small businesses applying for the loans, which are intended to help resolve financing difficulties facing technology-driven companies, Zhao Jing, deputy mayor of the city, said at the signing ceremony.

Three local companies have already used their patents to secure bank loans.

Trademarks can also be used as collateral at Bank of China in the city.

(Source: China Daily)