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China Unleashes Billions in Loans to Tech Start-Ups, 57% Increase in IP-Backed Financing in H1 2024
Aug 20, 2024, 04:12 AM
China is implementing a significant financial initiative to stimulate its lagging economy by providing billions of dollars in loans to technology start-ups. These loans are uniquely backed by the intellectual property of the companies, a strategy typically reserved for distressed firms lacking other valuable assets. This approach aims to revive demand for loans and support small businesses in the technology sector. Notably, new financing loans pledged against intellectual property surged by 57% year-over-year in the first half of 2024, following a remarkable 75% increase for the entire year of 2023. The move reflects Beijing's efforts to bolster innovation and growth within the start-up ecosystem amidst economic challenges.
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