The Beijing Intellectual Property Bureau and seven commercial banks recently signed a cooperation agreement that requires the latter to provide a total credit loan of 26 billion yuan ($4.2 billion) to companies in Beijing’s Zhongguancun Science Park over the next three years.

The financial support from these banks, which include Bank of China (BOC) and Construction Bank of China (CBC), is part of an intellectual property financing solution that sets the highest record in credit loan for Zhongguancun companies. The banks will also provide other financial support such as insurance services and customization of financial products.

Edited by Wang Yifei and Niva Whyman