The People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission and China Insurance Regulatory Commission released the Opinions on Stepping Up Financial Services in Supporting Key Industry Adjustment and Curbing Over-Capacity, encouraging qualified local governments to set up guarantee foundations and facilitating the growing small and medium sized IT companies to secure loan by pledging their IPRs.

Under the opinion, develop a financial services platform formed by VC firms, financial organs and intermediary agencies, carry out innovation in credit, guarantee and insurance business and satisfy the S&T companies' demand for financing. Banking financial institutions are also encouraged to develop financial products and invite advanced technologies featuring reliable, completed and higher correlative.

(China IP News)