China Banking Regulatory Commission (CBRC) released a guideline on financing guarantee institutions' support for key project construction, aiming to build an unified governmental financing guarantee institution system and strengthen such institutions' support for small- and micro-sized enterprises.
According to the guideline, China will vigorously develop governmental financing guarantee institutions, accelerate construction of re-guarantee system, try to establish national financing guarantee fund and promote the full coverage of provincial re-guarantee institutions.
Moreover, financing guarantee institutions should enhance their support for small- and micro-sized enterprises' participation in key project construction.
In addition, the guideline requires that three parties, including local governments, banks and financing guarantee institutions, should all provide support for small- and micro-sized enterprises' participation in key projects.
Based on the guideline, projects that were set up by the central government or provincial governments and that have something to do with national major strategies such as the Belt and Road Initiative all belong to the scope of key projects.
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