The Ministry of Finance and six other departments issued the "Regulations on the Development of Government Financing Guarantees" today (21st), which will come into effect on March 1.

The Measures require government-based financing guarantee institutions to take policy-based financing guarantee business as their main business, actively support small and micro enterprises with strong employment capabilities and business entities such as the "three rural areas" and the "three rural areas" and focus on providing financing guarantee services for small and micro enterprises with a single-family guarantee amount of RMB 10 million or less and the "three rural areas" entities. In principle, the proportion of the guarantee amount of small and small agricultural support shall not be less than 80%, of which the proportion of the guarantee amount of a single household of RMB 5 million or less shall not be less than 50%. Localities are encouraged to improve institutional guarantee strength through capital supplement, risk compensation, guarantee fee subsidies, etc., to better play the role of "credit increase, insurance sharing, and intermediary" financing guarantee, promote the high-quality development of the government-based financing guarantee system, and help the economy continue to recover and improve.

(CCTV reporter Tian Qiyong)