Recently, the State Council of Chinese government issued a new policy to help SMEs obtain financing by pledging their intellectual property rights. The new policy is entitled several opinions on further Promoting the Development of SMEs (hereinafter the opinions). The implantation of the opinions is to help the SMEs overcome the difficulties caused by the global financial crisis and improve the business environment for the SMEs, especially the difficulty in obtaining the financing.
The opinions provides for a total of 29 measures including IPR pledge for loans from the bank, acceleration of technical advancement and structural adjustment; intensification of IPR protection; support for technical innovation, quality improvement and R&D investment; improvement of product and service quality; development of advanced technology, technique, equipment and popular products, etc..
In order to achieve the goal, the government will take more positive and effective measures to help the SMEs to overcome the financial crisis by expanding funding channels for the SMEs to raise capital, lowering the market access threshold for the SMEs and creating a more open and fair competition environment for SMEs.
