CNIPA Policy to Facilitate IP Pledge Financing, Helping Companies Wade through Difficult Times
Recently, the State Administration for Market Regulation, National Medical Products Administration and China National Intellectual Property Administration (CNIPA), jointly promulgated the Ten Measures to Support the Resumption of Work and Production. The measures mainly include: patent and trademark applications related to prevention and control of the COVID-19 epidemic will be prioritized for examination; supporting enterprises to gain IP pledge financing; in accordance with relevant laws and regulations, facilitation and relief measures will be given to enterprises which have resumed work and production while dealing with matters related to patents, trademarks and integrated circuit layout designs beyond the relevant period due to the impact of the epidemic.
At the press conference introducing the new policy, a CNIPA principal said that the administration advocates easy access to IP pledge financing for companies, through fast-tracking registration, inviting local administrations to survey pledge demand and outstanding projects, increasing policy integration and fostered innovation in a bid to support enterprises to resume work and production. In addition, CNIPA makes full use of relevant policy tools and actively coordinated bank's grant or renewal of loans. At the same time, CNIPA encourages well-heeled areas to integrate supporting policies such as loan discount, risk compensation, insurance and subsidies, innovate the connection of the Internet and new media and publicity of the policies and effectively play the role of IP in increasing trust and credit.
The principal noted that some localities in China have taken effective measures to promote the IP pledge financing and won great acclaim from relevant enterprises and the public. For example, Dongguan City has supported a loan of 15 million yuan (US$2.13 million) to a company with 3 utility model patents, greatly expanding its production capacity. Jiangsu Intellectual Property Office has vigorously strengthened IP pledge financing and 37 companies have obtained pledge loans of 114 million yuan since the epidemic outbreak.
On the basis of ensuring hardened prevention and control of the epidemic on its own campus, CNIPA has resumed normal operation, invoked measures to support companies and the bigger picture, the country's economic and social development, to be back on track. The IP authorities across the nation will translate the above-mentioned ten measures into their operational toolkits for accomplishing the set goals of the measures.
Source: China IP News