State Intellectual Property Office replies on opening up the inter-bank market and promoting intellectual property securitization! | Letter of reply to Proposal No. 02648 (Science and Technology No. 123) of the 5th Session of the 13th CPPCC-Industry News-Shenzhen deep trust patent Agency Co., LTD

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State Intellectual Property Office replies on opening up the inter-bank market and promoting intellectual property securitization! | Letter of reply to Proposal No. 02648 (Science and Technology No. 123) of the 5th Session of the 13th CPPCC

Release Time：

2022-09-21

Recently, the State Intellectual Property Office issued a letter in response to Proposal No. 02648 (Science and Technology No. 123) of the Fifth Session of the 13th CPPCC National Committee. It is mentioned that the inter-bank bond market and the exchange bond market are two ways and two models of intellectual property securitization. In recent years, the State Intellectual Property Office, together with the China Securities Regulatory Commission and other departments, has provided policy support for intellectual property securitization, encouraged the exploration of intellectual property securitization models, and actively and steadily developed intellectual property finance. Both models have made certain progress.

Letter from the State Intellectual Property Office regarding Proposal No. 02648 (Science and Technology No. 123) of the Fifth Session of the 13th CPPCC National Committee

Member Gao Yingzhong:

Your "Proposal on Opening the Inter-bank Market and Promoting Intellectual Property Securitization" has been received. Based on the opinions of the People's Bank of China and the China Securities Regulatory Commission, the reply is as follows.

The inter-bank bond market and the exchange bond market are two ways and two models of intellectual property securitization. In recent years, our office has worked with the China Securities Regulatory Commission and other departments to provide policy support for intellectual property securitization, encourage the exploration of intellectual property securitization models, and actively and steadily develop intellectual property finance. Both models have made certain progress.

1. Regarding promoting Zhejiang’s pilot experience in carrying out intellectual property securitization in the inter-bank bond market

In July 2021, our bureau issued the "Notice on Promoting and Standardizing Intellectual Property Operations" to guide various localities to use the intellectual property securitization financing function in an orderly manner based on the development needs of the local real economy. The Ministry of Finance jointly issued the "Notice on Establishing the Intellectual Property Operation Service System in 2020" and included the issuance of intellectual property securitization products into the performance goals of key cities. At present, various regions have explored various financing models including supply chain, intellectual property pledge and intellectual property licensing. Among them, for the intellectual property pledge model, we have jointly carried out in-depth special actions with the China Banking and Insurance Regulatory Commission and other departments to benefit enterprises entering the park through intellectual property pledge financing, and carried out strategic cooperation with major state-owned banks such as Bank of China and China Construction Bank to use the principal and interest receivable of intellectual property pledge loans as Securitization products of underlying assets are increasingly asset-based and market-based. Zhejiang has taken the lead in carrying out securitization pilots, exploring the country's first intellectual property securitization product in the inter-bank bond market, better popularizing intellectual property pledge financing services, encouraging commercial banks as issuers, and supporting the financing of technology-based small and micro enterprises. , revitalizing bank intellectual property pledge loan assets and other aspects to form useful experience, our bureau supports qualified regions to learn from it.

2. Regarding the intellectual property securitization model in the exchange bond market

The China Securities Regulatory Commission actively supports the development of asset securitization business for various basic assets including copyrights, patents, trademarks and other intellectual property rights that comply with the relevant requirements of the "Regulations on the Management of Asset Securitization Business of Subsidiaries of Securities Companies and Fund Management Companies", and has not Implement mandatory requirements for guarantees and credit enhancement measures. Since 2018, the exchange bond market has actively explored feasible models for intellectual property securitization and continuously promoted pilot projects. As of April 2022, a total of 65 intellectual property asset securitization products have been issued on the exchange market, with an actual issuance amount of 15.8 billion yuan, of which 7 products will be issued in 2022, with an issuance amount of 1 billion yuan. Take the "CITIC Securities-Guangzhou Development Zone New Generation Information Technology Patent Licensing Asset Support Special Plan" as an example. Its basic assets are the patent licensing fees of 103 core patents of 14 technology companies, covering communication network construction, intelligent Internet of Things, electronics In multiple core segments such as components, through the issuance of intellectual property asset securitization products, each participating company received financial support ranging from 6 million to 32 million. Under this model, companies neither need to transfer ownership of intellectual property rights nor set up rights restrictions such as pledges on intellectual property rights. Financing is more convenient and faster, and has been widely recognized by high-tech enterprises.

In the next step, our bureau will work with the China Securities Regulatory Commission and other departments to continue to improve the guidance policies and service measures for intellectual property securitization, reduce corporate financing costs, and further promote the financing of small and micro technology-based enterprises through intellectual property securitization and other methods. The People's Bank of China will standardize and explore ways suitable for intellectual property financing and further improve relevant regulations on asset securitization.

I sincerely thank you for your concern for intellectual property work. I hope you will continue to pay attention to the development of intellectual property work and provide more valuable opinions and suggestions on intellectual property work.

State Intellectual Property Office

August 29, 2022

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