Patent-collateralized loans up 68.5 percent

Some 160 companies in Central China’s Hunan province received patent-collateralized loans totaling 2.39 billion yuan ($352.6 million) in 2018, soaring 68.5 percent from the previous year. Statistics from local intellectual property authorities show such loans in Xiangtan more than quadrupled, and those in Yiyang, Yongzhou and Huaihua doubled last year. The surge was the result of the provincial government’s efforts to help financing for local companies with favorable policies, including offering evaluation subsidies to banks and insurance companies involved in the business.

SHANDONG