Fujian encourages IP-collateralized financing to boost industry growth
Government's assistance in helping secure such loans benefits Xiamen, Fuzhou among others
With support from the central government, East China's Fujian province is forging ahead in expanding intellectual property mortgage financing.
In 2018, the amount of patent-collaterized loans was 4.7 billion yuan ($664.87 million) in Fujian, up 46.9 percent from a year earlier.
Xiamen, a popular tourist destination in Fujian, has always been at the forefront of the country in terms of IP cultivation and commercialization, local officials said.