Hangzhou Deputy Mayor Huan Jinyuan: Last year, Hangzhou facilitated intellectual property pledge financing of 45.34 billion yuan, a year-on-year increase of 55.3%.

Hangzhou Vice Mayor Huan Jinyuan introduced at the routine press conference of the State Intellectual Property Office on July 28th that Hangzhou is promoting the transformation and application of innovative achievements, and is building a "integrated" intellectual property financial service mechanism of "investment, loan, financing, guarantee, and insurance". The city has set up key industry intellectual property operation funds and pledge financing risk compensation funds. Last year, Hangzhou handled intellectual property pledge financing of 45.34 billion yuan, an increase of 55.3% year-on-year, benefiting a large number of enterprises and ranking at the forefront nationwide. It has issued a total of 16 intellectual property securitization products, with the lowest face value interest rate at 2.3%, setting the lowest face value interest rate for similar products in the country during the same period. The city is also promoting a special action for patent transformation and application, with the patent and technology transaction volume reaching 27.99 billion yuan last year, and the number of patent transfer licenses reaching 38,000, an increase of 17% year-on-year.