Diversified financial products help "intellectual property" to become financial

The promotion of intellectual property financial services is becoming an important engine to boost new quality productivity. The reporter recently learned from banks, insurance, trusts and other financial institutions that intellectual property rights are constantly innovating and integrating with finance, and through diversified methods such as intellectual property pledge loans, intellectual property ABS (asset securitization), intellectual property insurance, etc., "intellectual property" is changed into "assets" to help innovation "land and generate money".

　　Intellectual property pledge financing has accelerated

　　In May this year, the State Administration of Financial Supervision issued the "Guiding Opinions on the Banking and Insurance Industries to Do a Good Job in Finance" (hereinafter referred to as the "Guiding Opinions"), which clearly stated that it would explore and promote intellectual property financial services. As the main force of financial services for the real economy, banking financial institutions continue to explore and achieve practical results in helping enterprises revitalize patent resources.

　　Shanghai Industrial Supplies Co., Ltd. is a high-tech enterprise dedicated to the production of industrial consumables, holding 13 related patents. During the visit, CCB Shanghai Jinshan Petrochemical Sub-branch learned that the company had a need for funds, and immediately organized staff to rely on the internal evaluation method of intellectual property pledge financing (hereinafter referred to as the "intellectual property internal evaluation method") to adopt the guarantee method of credit additional patent pledge to successfully apply for a credit line of 20 million yuan for the enterprise. "I heard that intellectual property pledge financing takes a long time and costs a lot, but I didn't expect this service to be so efficient!" The person in charge of the enterprise said happily.

　　According to reports, the internal evaluation method of intellectual property rights was pioneered by China Construction Bank in the industry, and the pilot work was carried out in Beijing, Shanghai, Guangdong and other provinces where science and technology enterprises gather in September last year. Guided by the Guidelines for Patent Valuation jointly formulated by the State Administration of Financial Supervision and other three ministries and commissions, and supported by the patent licensing data regularly published by the State Intellectual Property Office, the Intellectual Property Internal Assessment Law proceeds from the core elements of patents such as legal value, technical value and economic value to scientifically evaluate and derive patent value, so as to realize the transformation of commercial banks' intellectual property evaluation from "external evaluation" to "internal evaluation", from "empirical evaluation" to "standard evaluation", and from "manual evaluation" to "intelligent evaluation". It provides an important basis for science and technology enterprises to handle intellectual property pledge financing, and further promotes more financial resources to be invested in the real economy and scientific and technological innovation.

　　Practice has proved that the internal evaluation method of intellectual property rights has greatly improved the efficiency of intellectual property evaluation, and more quickly, comprehensively and accurately reflects the comprehensive scientific and technological innovation capabilities of enterprises.

　　PSBC has also launched a series of effective financial services and products to help enterprises transform intangible assets into tangible assets.

　　After nearly 30 years of development, it has 19 invention patents and sales of more than 170 million yuan in 2023, and has been rated as a national "high-tech" enterprise and a provincial "innovative" small and medium-sized enterprise. Due to the rapid expansion of the scale this year, the company once encountered the problem of poor capital turnover. The company learned that the Postal Savings Bank could issue loans through intellectual property rights, and contacted the Ningbo Branch of the Postal Savings Bank with the mentality of giving it a try.

　　"For high-quality intellectual property enterprises, we do our best to provide service support. In the long run, this enterprise has great development potential and makes a great contribution to local economic development, which is also a key enterprise that we provide financial support. Pan Yingying, account manager of Ningbo Branch of Postal Savings Bank, said. The Ningbo Branch of the Postal Savings Bank visited the site for many times to investigate and collect loan materials, and finally issued an intellectual property pledge loan of 4.5 million yuan according to the customer's required funds. This intellectual property patent pledge loan is one of the first new collateral loans issued by the Ningbo Branch of the Postal Savings Bank in 2024.

　　Intellectual property ABS has been frequently implemented

　　With the help of banks, brokers, trusts and other financial institutions, intellectual property asset securitization products (ABS) have been frequently launched, and a number of products have been successfully issued since July.

　　On July 5, the "IB Yuanrong-Chengdu Small and Medium-sized Enterprises Phase 3 Intellectual Property Asset-backed Special Plan" was successfully issued on the Shenzhen Stock Exchange, which is the first "pilot platform" intellectual property asset securitization project in China. According to reports, the shelf scale of the asset-backed special plan in this period is 1 billion yuan, the first phase of Chengdu High-tech Zone is 140 million yuan, and the priority securities are rated AAA. The project is led by the Market Supervision and Administration Bureau of Chengdu High-tech Zone, the Science and Technology Innovation Bureau of Chengdu High-tech Zone and other units, with the participation of a number of institutions, including China Resources Trust. There are 14 enterprises in the pool, focusing on the pilot platform, high-tech, specialized, special and new, 30 intellectual property patents (including 24 invention patents and 6 utility models) for the underlying enterprises, and obtaining securitization financing of nearly 140 million yuan.

　　On July 2, the "Huaan Xinxin-Wuhu Phase 1 Intellectual Property Asset Backed Special Plan" was successfully issued and established by Huaan Securities as the plan manager and Nanjing Xinxin Commercial Factoring Co., Ltd. as the original owner, which is the first market-oriented credit enhancement intellectual property asset securitization product in Anhui Province. The first phase of the priority coupon rate is 2.63%, the issuance period is 1 year, and the rating is AAA, covering semiconductor, pharmaceutical, 3D printing and other industries.

　　In this project, Huaan Securities not only made an innovative attempt to market-oriented credit enhancement in the design of product structure, breaking the previous precedent of requiring local state-owned enterprises to carry out credit enhancement guarantee for intellectual property securitization projects, but also adopted the method of issuing bank financing guarantees by Huishang Bank to provide credit enhancement guarantee for the underlying science and technology enterprises; At the same time, it also gives full play to its own advantages in terms of issuance pricing, with a coupon rate of only 2.63% for the first issue, and actively assists enterprises to understand and apply relevant interest discount policies to reduce the actual weighted financing cost of enterprises to less than 2%.

　　Compared with traditional IP pledge financing, IP securitization products have the advantages of large financing scale, long term and strong liquidity. Industry insiders believe that this innovative model reduces the financing cost of enterprises, improves the efficiency of the use of funds, and provides strong financial support for the scientific and technological innovation and achievement transformation of enterprises.

　　According to the data of Lianhe Credit, since 2020, with the implementation of a number of intellectual property financial service policies, intellectual property ABS has developed rapidly in the mode of first pilot and then promotion, and the issuance scale has shown a fluctuating growth trend. In December 2022, the Exchange issued guidelines for specific types of asset-backed securities, clarifying and optimizing the listing conditions for intellectual property ABS. In 2023, innovative IP ABS products will continue to emerge, with a total of 47 orders issued throughout the year, an increase of 12 orders compared with 2022. The issuance scale was 7.885 billion yuan, an increase of 23.23% year-on-year. From January to March 2024, a total of 9 intellectual property ABS were issued, with an issuance scale of 1.318 billion yuan.

　　The intellectual property insurance product system has been continuously improved

　　As an important part of intellectual property finance, intellectual property insurance plays a dual role in expanding financing channels and providing risk protection.

　　The reporter learned from Pacific Property Insurance that for the creation, protection and application of intellectual property rights, Pacific Property Insurance provides a comprehensive insurance product system. From the perspective of underwriting scale, patent enforcement insurance is the main intellectual property insurance product operated by CPIC; In terms of coverage, CPIC has issued various intellectual property insurance schemes such as patents, trademarks, copyrights, geographical indications of agricultural products, and layout designs of integrated circuits, among which there are many products that are the first in China. For example, in November 2022, CPIC launched the country's first data intellectual property security insurance, which innovated the underwriting model based on the data preservation platform to specifically protect the data intellectual property rights of enterprises, and took the lead in the country to embark on a new path of promoting and protecting the use of data intellectual property rights.

　　Yu Ze, vice president of Chinese Insurance Group, said that in accordance with the overall working model of "government guidance, business docking and professional operation", Chinese Insurance has built and improved the intellectual property insurance product system and created a full-process service system for intellectual property insurance. The first is to deepen local cooperation and explore characteristic development methods. Since 2011, the State Intellectual Property Office has entrusted PICC Property Insurance to carry out pilot projects on intellectual property insurance, and actively promoted the pilot implementation of intellectual property insurance in Beijing, Guangdong, Shandong and other places. By the end of 2023, it has provided more than 140 billion yuan of risk protection for nearly 50,000 patents, trademarks, geographical indications and integrated circuit layout designs of more than 32,000 enterprises. The second is to promote product innovation and improve the intellectual property insurance product system. At present, the products cover the whole process of intellectual property creation, protection, application, management and service, including more than 20 products in all categories of intellectual property rights such as patents, trademarks, copyrights, geographical indications, integrated circuit layout designs, new plant varieties and trade secrets. The third is to establish a database of expert institutions and promote the construction of a whole-process service system. In 2023, the first database of intellectual property insurance experts and third-party service institutions will be established, and the first "National Intellectual Property Insurance Comprehensive Service Pilot Platform" in the industry will be approved, which will play an important role in promoting the large-scale, platform-based and integrated development of intellectual property insurance. Fourth, carry out basic research to promote the development of the industry. In October 2021, the "Chinese People's Insurance Guangdong-Hong Kong-Macao Greater Bay Area Intellectual Property Insurance Center" was officially inaugurated in the Guangzhou Development Zone, which is the first intellectual property insurance center in China. In September 2022, the Intellectual Property Insurance Innovation Lab was established. In February 2023, China and the Intellectual Property Development Research Center of the State Intellectual Property Office jointly released the industry's first White Paper on the Development of Intellectual Property Insurance in China (2022).

Source: Economic Information Daily