On December 21, Qiyi Century Intellectual Property (IP) Asset-backed Securities were issued on the Shanghai Stock Exchange (SSE), marking the successful launch of China's first IP asset-backed securities and a ground-breaking event in the IP securitization in China.
In April this year, CPC General Secretary Xi Jinping delivered an important speech at the convention marking the 30th anniversary of the establishment of the Province and Special Economic Zone of Hainan, charting the direction for the reform, opening up and development of the province. At the same time, the CPC Central Committee and the State Council issued the "Guiding Opinions on Supporting Hainan in Comprehensively Strengthening Reform and Opening-up", giving Hainan Province a major reform and innovation task of "exploring the securitization of intellectual property". The successful issuance of the project was a significant measure taken by the SSE under the guidance of the CSRC and the National Intellectual Property Administration to work with the Hainan Province Intellectual Property Office to implement the requirements of General Secretary Xi's "April 13" important speech as well as the guiding opinions of the CPC Central Committee and the State Council and improve the service of the intellectual property for the development of the innovative technology, marking a firm step forward in solving the problem of the difficult access to financing in the intellectual property industry.
Qiyi Century IP Asset-backed Securities take the creditor's rights receivables formed in the TV drama copyright transactions as the underlying asset. It is not only in line with the product requirements for asset securitization, but also meets the actual demand for intellectual property transformation, creating a financing path based on asset securitization in the intellectual property industry and producing an extensive demonstration effect. The securitization of intellectual property can effectively meet the demand of the cultural and technological enterprises for IP-based financing, facilitate the efficient integration of capital and technology, provide productive and low-cost financing services for the innovation fields, accelerate the flow of innovation value, promote the transformation of scientific and technological achievements, and make the intellectual property a true driving force for the innovative development of the enterprises.
Going forward, the SSE will continue to implement the guidance of the CPC Central Committee and the State Council, and in accordance with the unified deployment of the CSRC, give full play to the role of the capital market and further advance the securitization of intellectual property, so as to provide strong support for the development of innovative science and technology, propel the innovative development of Hainan Province and boost China's innovation-driven strategy.