13 July 2021
The CNIPA and BOC held a signing ceremony for a strategic cooperation agreement in Beijing on June 21, 2021. Changyu Shen, commissioner of the CNIPA, and Liange Liu, chairman of BOC, attended the signing ceremony and each delivered a speech. Gang Zhao, the CNIPA’s deputy commissioner, and Wei Wang, BOC’s executive vice president, signed the agreement on behalf of the two parties.
Shen said that the Communist Party of China Central Committee attaches great importance to financial support for innovation and real economy, and Jinping Xi, general secretary, has made important instructions in this regard on many occasions. Under market economy conditions, innovation cannot continue without IP protection and financial support. The small and medium enterprises are major players of innovation and have a strong need for financing. The CNIPA has been earnestly implementing the decisions and plans made by the Committee and the State Council. Together with relevant departments, the CNIPA has issued a number of effective measures to promote IP finance and made remarkable results in IP pledge financing. During the period covered by the 13th Five-Year Plan, the total amount of patent and trademark pledge financing in China doubled to over ¥700 billion (US$108 billion), compared with the 12th Five-Year Plan period. With a solid foundation and rich experience in IP pledge financing, BOC ranked among the top banking financial institutions in terms of funding scale and project number in recent years. The strategic cooperation between the two parties will bring their strengths into full play, further drive the upgrading and expansion of IP pledge financing, boost financial innovation, and better support the development of the real economy.
At the ceremony, the Labouratory for Intellectual Property Financing Innovation was inaugurated in the presence of Shen and Liu. Wang introduced the BOC’s IP financing achievements, while Zhao introduced the main contents of the strategic cooperation. They jointly unveiled the BOC’s new loan product Hui Ruyuan • Zhihui Dai. It is reported that the two institutions will carry out all-round cooperation in six areas, including policy research, data sharing, product research & development, information support, business exploration, publicity and promotion, and will set up labs for joint research and product R&D. The loan product of Zhihui Dai is aimed at providing a scenario and whole-chain application scheme on IP for SMEs engaged in science and technology, which has been piloted in 22 branches.
“This cooperation between the CNIPA and BOC can further promote the upgrading and expansion of IP pledge financing, increase financial innovation, and better support the development of the real economy. In particular, the financing needs of SMEs as well as scientific and innovative enterprises can be better met. It can promote the development of IP pledge financing and make the procedure more standardized, open and diversified,” says Nina Li, a partner at IP March in Beijing. “However, like other forms of financing, IP pledge financing also has many uncertain risks. Therefore, whether the new products launched by BOC can be widely promoted or even promote the production and development of similar products in the industry and how much support can it provide for the development of the enterprises still needs to be tested through practice. As pilot projects have been carried out in 22 branches of BOC, all of these can be tested in a period of time.”
Johnny Chan
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