Beijing establishes copyright asset management and financial services center

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On April 26, the Bank of Beijing, together with the Publicity Department of the CPC Beijing Municipal Committee, Xicheng District People's Government of Beijing Municipal, and the Copyright Protection Center of China (CPCC) marked World Intellectual Property Day by jointly signing the "Strategic Cooperation Agreement on Supporting Construction of the Beijing Copyright Asset Management and Financial Services Center."

According to the agreement, the four parties promise to give full play to their respective resource advantages to jointly build the center, which will establish a financial service mechanism centered on copyright assets. The financial services to be provided include: subsidizing corporate consulting fees, upgrading copyright asset management services, optimizing the pledge registration process, establishing green channels for approval, and providing a mechanism for docking investments and loans.

Copyright, as an important component of intellectual property rights, is at the core of cultural enterprises' competitiveness. It is also a pillar that supports the healthy development of cultural industries and stimulates the innovative vitality of enterprises.

The agreement also outlines how the Publicity Department of the CPC Beijing Municipal Committee and the Beijing Municipal Bureau of Copyright will work to promote the application of blockchain technology in the copyright industry. A people's mediation committee for intellectual property disputes under the Capital Copyright Society will be formed, and model companies and parks will be selected and awarded for correct copyright protection practices. Finally, the CPCC will promote the construction and application of related infrastructure for copyright protection and transactions.

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