China Financial and Economic News:

We learned that the amount of national intellectual property pledge financing during the 13th Five-Year Plan period doubled compared to that of the 12th Five-Year Plan period. What specific measures has the NIPA launched to promote financial services such as intellectual property pledge financing? What are the arrangements for the 14th Five-Year Plan period?

Shen Changyu:

Thank you for your question. Innovation is inseparable from the protection of IPR and financial support. Intellectual property finance is an organic combination of intellectual property and financial services, and it also provides a kind of "dual insurance" and "dual support." In recent years, the NIPA, in conjunction with relevant departments, has acted on the decisions and arrangements of the CPC Central Committee and the State Council, constantly made progress on intellectual property finance, and mainly carried out its work in the following aspects:

First, we have vigorously promoted intellectual property pledge financing work. In 2019, we joined with the CBIRC and the NCAC, to issue the Notice on Further Strengthening Intellectual Property Pledge Financing Work and specified three measures: tolerate a slightly higher bad loan ratio in IP pledge financing business, establish separate credit programs and specific in-house performance appraisal and incentive mechanisms. In 2020, the total amount of national patent and trademark pledge financing reached 218 billion yuan, a year-on-year increase of 43.9%, from which many small and medium-sized enterprises have benefited, especially those related to science and technology.

Second, we guided relevant institutions to develop and launch intellectual property insurance products, including our cooperation with PICC Property and Casualty Company Limited, to form four categories and 16 types of intellectual property insurance products. According to incomplete statistics, in 2020, the relevant insurance coverage exceeded 20 billion yuan, benefiting more than 4,000 companies.

Third, we have actively pushed forward the trial program for intellectual property securitization. Up to now, a total of 25 intellectual property securitization products have been issued nationwide, with an issue amount of more than 7 billion yuan. The relevant work has been included by the State Council in the pilot free trade zones' trial reform experience.

Next, the NIPA will continue to work with relevant departments to advance the improvement of intellectual property financial services, promote intellectual property pledge financing by entering industrial parks to benefit enterprises, and develop intellectual property insurance and securitization. At the same time, we will effectively prevent intellectual property financial risks as well as continuously improve the popularity, benefits coverage, convenience, and safety of intellectual property financial services. Thank you.