Chinese Cities Step Up Credit Guarantees

JS China: 扬州市政府性融资担保规模破百亿

Government financing guarantee institutions play a "booster" role in financial services for the real economy. Recently, the reporter learned from the Municipal Local Financial Supervision Bureau that as of July, the scale of government financing guarantees in our city has exceeded 10 billion yuan. In recent years, our city has accelerated the construction of a government financing guarantee system, increased credit enhancement support for small and micro enterprises, "agriculture, rural areas and farmers" and other entities, and is committed to providing high-quality, convenient and low-cost services for the city's small and micro enterprises and "agriculture, rural areas and farmers" entities. Financing guarantee services with high rates, focusing on alleviating the problems of difficult and expensive financing for enterprises.

It is understood that the scale of government financing guarantees in the city has jumped from 4.47 billion yuan at the end of 2020 to 10.249 billion yuan in July 2022, and the number of small and micro enterprises and "agriculture, rural areas and farmers" customers in insurance has increased from 2,315 to 4,804. The average guarantee rate From around 1% in 2020 to below 0.5% in 2022.