On June 24, an Action Plan for Intellectual Property Financing for Enterprises in Industrial Parks (2021-2023) was issued by the China National Intellectual Property Administration (CNIPA), the China Banking and Insurance Regulatory Commission, and China’s National Development and Reform Commission. The Action Plan aims to increase the prevalence and popularity of intellectual property as financing tools to assist the development of small-, medium-, and micro-sized enterprises. Intellectual property financing is an important way for innovative enterprises to secure funds. During the "13th Five-Year Plan" period, the amount of patent and trademark financing in China has increased by an average of 19% annually. In 2020, the total amount of national patent and trademark pledge financing reached 218 billion yuan.

The Action Plan proposes that by the end of 2023, the accessibility of intellectual property financing policies and service will be significantly improved, the popularity of intellectual property pledge financing services in industrial parks will be significantly expanded, the implementation rate of pledged patents to be significantly increased, the annual growth rate of the number of intellectual property pledges and pledge financing amount in more than 100 industrial parks will be more than 20%. Many new small-, medium- and micro-sized enterprises have used intellectual property for financing.

In November 2020, intellectual property financing became available in China’s 53 industrial parks with funds involved in contracts reaching 710 million yuan.