The Lin-gang Special Area – located in East China's Shanghai city – on Jan 14 released its first finance  support policy for intellectual property or IP, in order to stimulate innovation by resident businesses.

The policy is designed to encourage the creation of IP, efficient applications, high-standard management, a range of IP protection and high-quality services.

Since last year, the Lin-gang Special Area has been active in promoting IP pledge financing. It has developed a commercial liaison mechanism for government, enterprises and bank insurance services, forming a system for the provision of finance to companies in return for pledges on their IP.

In addition, on Jan 14 a mutual fund that was established for intellectual property rights protection in Lin-gang announced its first successful case at a local conference.

Shanghai Lianshang Network Technology Co Ltd – a resident company – won a final appeal for trademark rights protection, with 75,000 yuan ($11,805) in financial support provided by the fund.

Three banks in the Lin-gang Special Area grant credit lines of 155.2 million yuan to 10 enterprises for their invention patents, at a conference held there on Jan 14. [Photo/WeChat account: shlgguanweihui]