In order to promote the high-quality development of the government financing guarantee system, regulate the behavior of government financing guarantee institutions, and better serve small and micro enterprises, "agriculture, rural areas and farmers" and other business entities, the Ministry of Finance and other six departments recently issued the "Administrative Measures for the Development of Government Financing Guarantee", which will come into effect from March 1, 2025.

This is the reporter 21 learned from the Ministry of Finance.

The measures are clear, the government financing guarantee institutions should adhere to the policy financing guarantee business as the main business, focus on key objects and weak areas, and focus on providing financing guarantee services for small and micro enterprises with a single household guarantee amount of 10 million yuan and below and the main bodies of "agriculture, rural areas". In principle, the proportion of the guarantee amount for supporting small farmers shall not be less than 80% of the total guarantee amount, of which the proportion of the guarantee amount for a single household of 5 million yuan or less shall not be less than 50% in principle.

The measures require that government financing guarantee institutions should actively support the absorption of employment ability, labor-intensive small and micro enterprises and "agriculture, rural areas and farmers" and other business entities, promote stable job expansion, and actively serve the county's characteristic industries to achieve the development of the real economy and support employment and entrepreneurship synergies.

According to the measures, on the premise of preventing new hidden debts, local financial departments at all levels can provide support to government financing guarantee institutions through capital supplement, risk compensation, guarantee premium subsidies, business awards and other means, enhance the guarantee strength and capital scale of local government financing guarantee institutions, and promote local government financing guarantee institutions to operate in a sustainable manner. Steadily expand the scale of business, better help enterprises rescue, stabilize job expansion, and serve the real economy. The measures also focus on performance appraisal, supervision and management requirements.

Source: Chinese government website