On Oct 22, Song Honghai, the board chairman of Tianjin Weijie Technology Co Ltd, signed a loan contract with the Tianjin branch of the Bank of Dalian.
Under the contract, Weijie will obtain a pledge loan of 20 million yuan with four patent pledges.
Many small and medium-sized enterprises (SMEs) with limited material assets can benefit from patent pledge loans, said He Zhimin, director of the Tianjin Intellectual Property Office.
"Patents also have their own market value as intangible assets. SMEs owning independent intellectual property rights could turn intellectual property rights into capital for production by starting an enterprise with patented technologies," He said.
