During the 2021 Zhongguancun Forum, Beijing Intellectual Property Operation Management Co., Ltd. (Beijing IP) and the Bank of Hangzhou signed a cooperation agreement to jointly create a new type of "Zhirongbao" product. 

This product can provide enterprises with intellectual property pledge financing support of up to 40 million yuan ($6.2 million) and approximately three percent of comprehensive financing costs after subsidies.

Difficulty in financing has always been a pain point for the development of technology-based small, medium and micro enterprises. 

Many companies lack sufficient real estate collateral, but do not lack intellectual property assets, such as patent rights, trademark rights, and copyrights.

To eliminate the difficulty of realizing the "intellectual property" of technology-based enterprises, Beijing IP has continued to explore innovative service products and updated its iterative service model. 

In 2016, it launched the Zhongguancun intellectual property pledge financing product Zhirongbao, which has served more than 150 enterprises with financing totaling more than 700 million yuan, and revitalized over 1,300 core intellectual property rights of enterprises.

At the beginning of 2021, Zhirongbao's upgraded and iterative product Zhirongbao 2.0 was officially launched. It is mainly for high-tech enterprises with independent intellectual property rights. 

The intellectual property rights under the name of the enterprise or the actual controller are used as the only pledge asset, the models of which include the guarantee model and direct bank cooperation.

The signing of the new contract with the Bank of Hangzhou marks the realization of the first direct bank cooperation model for Zhirongbao 2.0 products.