Hunan: Companies benefit from pledge loans worth $17.4m

Three companies in the province were granted credit loans totaling 108 million yuan ($17.4 million) with IP pledges at a matchmaking campaign on Monday in Changsha. The event's aim was to increase interaction among banks, IP agencies and companies that require financing. More than 10 banks in Hunan have started IP pledge services and have provided total loans of more than 1 billion yuan to nearly 100 companies. No non-performing loans have been found so far.