The Science and Technology Commission at the city's Binhai New Area announced on March 28 that 40 local companies received a total of 840 million yuan ($135.3 million) in loans using patents as collateral since last year. The companies mainly engage in biomedicines, energy conservation, environmental protection and electronic information. The new area put in place a series of policies and projects to improve IP financing channels last year, and now has five financial institutions to serve local high-tech companies.

(Source: China Daily)