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Guo Wen, spokesperson for the State Intellectual Property Office and director of the Intellectual Property Protection Department, said that during the "14th Five-Year Plan" period, banking and financial institutions had issued a total of over 900 billion yuan in intellectual property financing loans, benefiting over 110,000 small and micro enterprises. The Shanghai and Shenzhen stock exchanges had issued a total of over 37 billion yuan in intellectual property securitization products, and intellectual property insurance had provided risk protection totaling over 100 billion yuan for 25,000 companies.