Northeast's first exchange project launched

An intellectual property exchange project was launched on Monday in Dalian, Liaoning province, the first of its kind in Northeast China.

The Northern Intellectual Property Exchange Center, located in the Dalian Jinpu New Area, is the first IP trading platform approved to be built in Northeast China, following the IP International Exchange of Hainan, which started operation in Haikou, South China's Hainan province, on Aug 28, and a new IP exchange in Beijing, initiated on Sept 9.

"Taking advantage of the national-level platform, Dalian is expected to become a magnet for IP resources in northern China, including IP innovation and development, as well as become an international trade base for IP commercialization and industrialization in Northeast Asia," said Li Pengyu, a member of the standing committee of the Dalian committee of the Communist Party of China. He is also the director of the administrative committee of the Dalian Jinpu New Area.

According to Chen Chuang, vice-president of Liaoning Publishing Group, the center will integrate copyright, patents, trademarks and many other IP assets to optimize resource allocation in the market.

"It will provide high-tech and cultural enterprises with a whole industrial chain of services including evaluation, IP-collateralized financing, and transactions to accelerate high-value IP transformation," Chen said.

During the launch ceremony, an agreement on a risk compensation fund for IP-collateralized loans was signed. The fund is composed of 12 million yuan ($1.77 million) of financial support from the upper-levels of government and 4 million yuan from the Dalian Jinpu New Area.

"The establishment of the fund marks the beginning of our cooperation with the Dalian government and the Northern Intellectual Property Exchange Center," said Li Yanmei, president of the Dalian branch of China Construction Bank.

"We will continue to explore new service models, carry out in-depth IP financial cooperation, and make financial support a booster for the growth of enterprises," she said.

In 2019, Dalian was listed as one of the major cities for the construction of a national intellectual property operation service system, the first in Northeast China. It received a special support fund worth 150 million yuan.

According to Qu Yingming, head of the IP application promotion section at the Dalian Intellectual Property Bureau, the port city has kept strengthening IP creation, protection, application and services to create an optimized business environment for the market, and facilitate innovation of enterprises and the high-quality development of the city's economy.