The pledged financing for intellectual property rights or IPR in Tianhe district in 2024 topped 8 billion yuan ($1.1 billion) for the first time in the area, representing a whopping year-on-year increase of 57.5 percent.

Production gets underway at a busy factory in Tianhe district. [Photo/WeChat account: tianhefabu]

The performance came in the wake of moves by the district to implement strategies to boost the efficient utilization and maximization of the value of intellectual property.

Policies were rolled out to offer support for the interest accrued from intellectual property rights pledged financing for businesses. In 2024, the approved subsidies for such financing totaled more than 7.3 million yuan.

After liaising with banks including the Bank of China and the Industrial and Commercial Bank of China, the district developed a "one-click" evaluation system customized for financing tech startups – effectively reducing the evaluation costs for businesses.

The new setup for IPR-pledged financing workstations within industrial parks –coupled with the introduction of innovative financial products – is said to have eased access to funding for businesses.