People's Bank of China, China Banking Regulatory Commission jointly issued opinions on IPR pledge loan

In order to ensure the thorough implementation of further expanding domestic demand and boosting economic growth in the ten measures and the stipulations in the Several Opinions of the General Office of the State Council on Providing Financing Support for Economic Development introduced by the Party Central Committee and the State Council and earnestly carry out a moderately easy monetary policy, PBOC and CBRC recently put forward the Guiding Opinions on Further Strengthening the Credit Structure Adjustment to Promote Steady and Relatively Fast Development of National Economy (hereinafter the Guiding Opinions). The Guiding Opinions stipulate to explore ways to promote the development in the IPR and the pledge loan of independent brands in order to push ahead the industrialization of independent innovation achievements and comprehensive industrial restructuring and upgrading.

The Guiding Opinions decide the support role of science and technologies in expanding domestic demand, encourages and directs the financial institutes to provide support to the independent innovations of enterprises, increases the investment in the national engineering technological research centers, key labs' construction, high-tech industrial clusters, construction of national high-tech industrial demonstration projects, national key scientific and technological industrialization projects and the transformation projects of scientific and technological achievements, improves the independent innovation capability of domestic enterprises and the industrialization of the independent innovation achievements.

The Guiding Opinions supports enterprises to explore ways to promote development in the intellectual property and the pledge loan of independent brands and bolster scientific and technological development programs such as Torch Program and Spark Program. It suggests building various platforms for the scientific and technological and financial cooperation to brace the development in enterprises' service agencies. The Guiding Opinions encourage the financial institutes to develop export credit business such as bill discount, outward documentary loan, external guarantee and other available ways to cultivate a batch of high value-added core export products which have independent IPRs and brands, impelling the transformation, upgrading and grads transfer of the processing business.