All 11 prefecture-level cities in Zhejiang province in East China have established dedicated administrative service windows, handling local businesses' registration of intellectual property mortgage loans, according to the Zhejiang Administration for Market Regulations.

"We recently secured 1 million yuan ($149,500) in bank loans through mortgaging two patents," said Shen Tianming, general manager of Jiaxing Jialan Environmental Protection Technology Corporation.

Shen said the company previously had to complete the administrative procedures in Hangzhou, but now the same service was available in Jiaxing city, saving a lot of time and effort.

"Previously, to handle the IPR mortgages, all enterprises in Zhejiang province had to come all the way to the Hangzhou office of the China National Intellectual Property Administration," said an official from the Zhejiang Administration for Market Regulations.

"It was even more troublesome for IPR mortgage applicants when they made mistakes in their applications and had to pay a return trip."

He said the IPR mortgage service windows have been operational across the province for a while and have received widespread positive feedback from banks, companies and organizations in all localities.

To ensure efficient services, the Hangzhou office of the China National Intellectual Property Administration has provided technical support and regular guidance to the IPR mortgage service windows in the rest of the province.

The devolution of administrative services has prompted more Zhejiang-based companies to utilize their intellectual property for future development.

In the first three quarters of the year, Zhejiang registered a total of 19.26 billion yuan for intellectual property mortgage loans, soaring 275 percent over the same period in the previous year.

Officials said a total of 795 companies benefitted from the loans, up 136 percent from the previous corresponding period.