The China (Shanghai) Intellectual Property Rights Aid Center's branch at Zhangjiang Science City was established on Wednesday to further boost IP protection, according to an announcement at the 2020 Shanghai Intellectual Property Finance Forum.

Senior IP officials said that the move is aimed at optimizing the municipality's business environment.

The center will improve mutual resource sharing and information communication and promote collaboration between the center and enterprises at Zhangjiang. Previously, similar branches of the center were also set up at Fengxian district's Oriental Beauty Valley, Yangpu district's Changyang Entrepreneurial Valley, and Xuhui district's Caohejing Hi-tech Park.

Themed "promoting innovation in IP financial services and constructing an ecological environment for IP operations", the forum was held by the Shanghai Science and Technology Innovation Promotion Office and the Shanghai Intellectual Property Bureau.

Around 120 representatives from innovative science and technology enterprises, universities, law firms, and institutions of financial service and IP service participated in the forum.

Rui Wenbiao, director of the Shanghai Intellectual Property Bureau, said, "The bureau has worked together with relevant departments to help and encourage enterprises, especially the small- and micro-sized ones, to make effective use of IP financial tools to reduce corporate financing costs and help them innovate and develop."

Experts said that science and technology businesses can accelerate the multi-dimensional integration of their IP with innovative resources, financial capital, and industrial development so that they can find IP financial solutions for their financing.

Initiated by the Shanghai Intellectual Property Bureau and 10 commercial banks, the Shanghai Intellectual Property Financial Service Alliance was established in November.

During the first half of this year, IP pledge financing in the city totaled more than 3.1 billion yuan ($456 million), a year-on-year increase of 15.52 percent.