To the People’s Governments of All Cities and Counties, and All Constituent Departments and Directly Affiliated Agencies of the People’s Government of the Autonomous Region:
To fully implement the spirit of the 20th National Congress of the Communist Party of China and the Second and Third Plenary Sessions of the 20th Central Committee, thoroughly carry out the arrangements of the Central Financial Work Conference, and in accordance with the requirements of the “Implementation Opinions of the State Council on Promoting the High-Quality Development of Inclusive Finance” (Guo Fa [2023] No. 15), we hereby issue the following notice, with the approval of the People’s Government of the Autonomous Region, regarding relevant matters to further advance the high-quality development of the financing guarantee industry in our region and to effectively advance the five key areas of technology finance, green finance, inclusive finance, elderly care finance, and digital finance:
I. Strengthen Services in Key Areas
(1) Accelerate the Development of Technology-Related Guarantee Services. Financing guarantee institutions are encouraged to innovate products and business models to address the financing needs of science and technology innovation-oriented small, medium, and micro enterprises (SMEs) at different stages of development, thereby enhancing the suitability of financial services for such enterprises. Support will be provided for financing guarantee institutions to collaborate with equity investment firms and banks in implementing integrated “investment-loan-guarantee” services for science and technology innovation-oriented SMEs.Government-backed financing guarantee institutions should intensify their support for technological innovation and industrial revitalization, actively align with specialized guarantee programs for technological innovation, assist in the development of strategic emerging industries and future industries, and accelerate the cultivation and formation of new-quality productive forces. The maximum outstanding guarantee balance per client for government-backed financing guarantee institutions supporting technology-innovative SMEs and micro-enterprises is raised to 30 million yuan.
(2) Innovate and develop green guarantee services. Encourage financing guarantee institutions to expand the green guarantee market for micro and small enterprises and the “agriculture, rural areas, and farmers” sector, and increase guarantee support for green and low-carbon fields such as energy conservation and environmental protection, clean production, clean energy, ecological environment, green manufacturing, and green services.Support government-backed financing guarantee institutions in collaborating with forest rights acquisition and storage agencies to increase the loan-to-value ratio and approval rate for forest rights mortgage loans. Encourage qualified financing guarantee institutions to establish specialized green guarantee teams or dedicated entities to provide financing guarantee services for micro and small enterprises developing green projects or engaged in green industries. Encourage eligible financing guarantee institutions to increase guarantee support for green bond issuances, thereby broadening direct financing channels for green industries.
(3) Optimize the structure of inclusive guarantee business. Encourage financing guarantee institutions to actively increase support for micro and small enterprises that have never obtained loans, striving to raise the proportion of first-time borrowers; strengthen the mining and utilization of credit information on micro and small enterprises, and continuously increase the proportion of credit-based guarantees.Government-backed financing guarantee institutions should promote the coordinated development of individual guarantee business and bulk guarantee business, enhancing the precision of individual guarantee business and the standardization of bulk guarantee business. They should explore joint guarantee and sub-guarantee mechanisms between autonomous regional-level government-backed financing guarantee institutions and municipal and county-level government-backed financing guarantee institutions to reasonably meet the guarantee needs of SMEs requiring larger amounts exceeding 10 million yuan per borrower.Municipal and county people’s governments are encouraged to entrust the management of entrepreneurship guarantee loan funds to government-backed financing guarantee institutions. Efforts should be made to implement the “2:2:2:2:2” risk-sharing model—involving entrepreneurship guarantee loan funds, operating banks, guarantee institutions, re-guarantee institutions, and the National Financing Guarantee Fund—across the entire region to support the expansion of entrepreneurship guarantee loans in both scope and volume.Autonomous regional-level agricultural credit financing guarantee institutions should leverage the region’s distinctive resources—such as forestry, fruits, vegetables, livestock, and sugar—to prioritize support for the production of key agricultural products (including grain, pigs, sugar, fruits, and Chinese medicinal materials) as well as facility agriculture. They should focus on serving agricultural entities engaged in moderate-scale operations, conduct only “dual-control” business, and intensify efforts to promote the “policy-based insurance plus policy-based guarantee” model.
(4) Actively Explore Guarantees for the Elderly Care Industry. Encourage financing guarantee institutions to actively explore the establishment of a guarantee product system tailored to the characteristics of the health industry, elderly care industry, and silver economy, and guide the allocation and prioritization of financial resources toward the elderly care services sector. Support government-backed financing guarantee institutions in collaborating with civil affairs departments at all levels to establish a “government + guarantee + bank” policy-based financing service coordination platform, thereby providing financing guarantee services to elderly care service enterprises and social service institutions.
(5) Promote the digital transformation of the industry. Encourage financing guarantee institutions to steadily advance digital transformation in accordance with the principles of adapting to local conditions and proceeding step by step, using technology to streamline processes, reduce costs, improve efficiency, and enhance risk control capabilities.Encourage financing guarantee institutions to intensify efforts in integrating, developing, and utilizing data resources to unlock the latent value of data held by small and micro enterprises. Support government-backed financing guarantee institutions across the region in deepening cooperation with the digital platform of the National Financing Guarantee Fund, accelerating the establishment of regional data sub-centers for relevant platforms, and exploring the development of big data risk control models for financing guarantee operations. This will facilitate seamless integration with third-party data sources—including bank data, credit reporting data, and information from relevant government and regulatory departments—to enhance risk management and service capabilities.
II. Improving Fiscal Support Policies
(6) Improve the capital replenishment mechanism. The autonomous region’s finance department will, based on fiscal capacity, timely replenish the capital of leading autonomous-region-level government-backed financing guarantee institutions to support their growth, optimization, and expansion.Establish a capital replenishment mechanism linked to the business scale and performance evaluation results of government-backed financing guarantee institutions. For government-backed financing guarantee institutions whose leverage ratio of outstanding guarantee liabilities reaches 4 times or more (3 times or more for agricultural credit financing guarantee institutions) and whose performance evaluation rating has been “average” or higher for three consecutive years, encourage fiscal authorities at all levels to promptly replenish their capital.Encourage municipal and county people’s governments to prioritize the use of central government financial support funds for inclusive finance development demonstration zones to replenish the capital of government-backed financing guarantee institutions.
(7) Optimize the risk compensation mechanism.Each year, financial departments at all levels shall provide compensation for losses to government-backed financing guarantee and re-guarantee institutions at their respective levels that received a performance evaluation rating of “Average” (inclusive) or higher in the previous year and had a compensation rate of 1% (exclusive) to 5% (inclusive) in the previous year. The scope of compensation covers projects where the annualized guarantee (or re-guarantee) fee rate complies with the fee standards, with individual loan amounts not exceeding 20 million yuan (or 30 million yuan for “Double New,” “Specialized, Refined, Unique, and Innovative,” and technology-driven small, medium, and micro enterprises),and for government-backed financing guarantee and re-guarantee projects related to micro and small enterprises and the “agriculture, rural areas, and farmers” sector where the annualized guarantee (re-guarantee) fee rate complies with the fee standards. The compensation standard is 50% of the actual amount of compensation liability borne by the government-backed financing guarantee and re-guarantee institutions (excluding the portion of risk sharing by external institutions as stipulated in the contract).Compensation funds are subject to a cap, with specific amounts determined by fiscal departments at all levels in their annual budgets. For the portion where the default rate is 1% or less, government-backed financing guarantee and re-guarantee institutions shall cover the losses using their own risk reserves; for the portion where the default rate exceeds 5%, fiscal departments at all levels shall not provide compensation. Fiscal departments at all levels shall include the startup guarantee loan business conducted by government-backed financing guarantee and re-guarantee institutions under their jurisdiction in the previous year within the scope of default compensation.Autonomous regional-level agricultural credit financing guarantee institutions that have already received central government subsidies for agricultural credit guarantee business, as well as municipal and county-level agricultural credit financing guarantee institutions conducting business through “guarantee-guarantee cooperation,” shall not be eligible for duplicate risk compensation benefits. The scope of annual risk compensation funding subsidies provided by the autonomous region’s finance department to commercial financing guarantee institutions shall be expanded from guarantee business with a single guarantee amount of 15 million yuan or less to guarantee business with a single-client guarantee amount of 20 million yuan or less.
(8) Improve the business incentive and subsidy mechanism. For government-backed financing guarantee and re-guarantee institutions with a regulatory rating of “C” (inclusive) or higher in the previous year, the autonomous region’s finance department will provide annual business incentives and subsidies based on the proportion of their total financing guarantee liabilities for small and micro enterprises and “agriculture, rural areas, and farmers” (ARF) projects in the previous year—where the individual guarantee amount is 10 million yuan or less and the annualized guarantee fee rate (or re-guarantee rate) complies with fee standards—relative to the total financing guarantee liabilities for similar business conducted by eligible institutions (calculated at 100%,90%, and 80%, respectively) of the total financing guarantee liability for eligible institutions in the same category. The annual business incentive and subsidy funds shall not exceed 30 million yuan, with no single institution receiving more than 10 million yuan. These funds may be used for guarantee fee subsidies, offsetting risk compensation, setting aside risk reserves, supplementing registered capital, and conducting capacity-building initiatives.
III. Fostering a Favorable Development Environment
(9) Expanding Government-Guarantee Cooperation. Strengthen the integrated development of government-backed financing guarantees and fiscal policies. Encourage departments at all levels—including science and technology, industry and information technology, ecology and environment, civil affairs, and human resources and social security—to coordinate and consolidate special fiscal funds. These departments should collaborate with government-backed financing guarantee institutions at all levels through methods such as injecting capital, jointly establishing guarantee funds, providing guarantee fee subsidies, or setting up risk compensation pools, thereby leveraging the guarantee mechanism to enhance the efficiency of fiscal fund utilization.Leverage the role of the coordination mechanism for supporting SME financing. Relevant units at all levels across the region shall actively refer eligible SMEs to government-backed financing guarantee institutions, which shall make independent business decisions in accordance with market-oriented and rule-of-law principles.
(10) Establish a due diligence and liability exemption mechanism. Issue guidelines on due diligence and liability exemption for government-backed financing guarantee institutions across the region, urging such institutions and re-guarantee agencies to fully implement the mechanism. This will promote their standardized and sound development, encourage staff to actively fulfill their duties, and ensure they effectively serve as the main force in enhancing credit support for small businesses and agriculture.
(11) Improve the performance evaluation and incentive mechanisms. Strengthen the role of positive fiscal incentives and regulatory ratings. Incorporate the implementation of the “Five Major Initiatives” in finance by government-backed financing guarantee and re-guarantee institutions into their performance evaluation and regulatory rating systems, and link performance evaluation results to their eligibility for policy support, funding, and compensation incentives. Appropriately relax the upper limit requirements for compensation rates when government-backed financing guarantee and re-guarantee institutions conduct technology guarantee and startup guarantee loan businesses.
(12) Intensify industry outreach. People’s governments at all levels and relevant departments should actively publicize and interpret financing guarantee policies that benefit enterprises. Financing guarantee institutions should actively promote their services through diverse forms and channels, proactively disseminating information on inclusive finance policies, guarantee products, and services to small and micro enterprises and entities in the agriculture, rural areas, and farmers sectors, thereby establishing a positive industry image.
(13) Strengthen talent development.Financing guarantee institutions should embrace the philosophy that talent drives industry development and continuously explore innovative mechanisms for talent recruitment, selection, development, and retention. Through market-oriented selection, professional training, collaborative training with universities and research institutes, and job rotation programs, they should attract a large pool of professionals in product design, risk control, industry research, and business management. Particular emphasis should be placed on building a reserve of and cultivating high-quality, multidisciplinary financial talent in key areas such as tech finance, green finance, inclusive finance, elderly care finance, and digital finance.Talent incentive mechanisms should be strengthened, and professionals in the financing guarantee industry should be included in financial talent development programs at all levels across the region, ensuring they enjoy equal policies and benefits.
IV. Strengthen Supervision and Risk Prevention
(14) Strengthen Supervision and Management. Financial guarantee industry regulatory authorities at all levels must comprehensively enhance institutional supervision, conduct supervision, functional supervision, penetrative supervision, and ongoing supervision. By comprehensively utilizing off-site supervision, on-site inspections, and regulatory ratings, they should urge financial guarantee institutions to operate in compliance with regulations. Monitoring efforts regarding key indicators—such as capital adequacy, the proportion of Tier 3 assets, and the provision coverage ratio—must be intensified.strictly crack down on all forms of illegal and non-compliant financial activities. Supervision of illegal and non-compliant behaviors—such as disorderly expansion, operating beyond authorized scope, and the withdrawal or misappropriation of registered capital—must be “tooth and claw,” with such cases handled in accordance with laws and regulations to resolutely safeguard against the occurrence of regional systemic risks.Fiscal departments at all levels must earnestly fulfill their duties as shareholders of government-backed financing guarantee institutions, comprehensively strengthen the management of state-owned financial capital, and, in conjunction with relevant departments, formulate specific implementation measures to implement support policies such as capital replenishment, compensation for losses, business incentives and subsidies, and guarantee fee subsidies. Audit departments at all levels must fully leverage their audit oversight and safeguarding roles to promote the standardized operation of government-backed financing guarantee and re-guarantee institutions.
(15) Strengthen risk prevention and control. Establish and improve risk prevention and control mechanisms for financing guarantee institutions; reinforce their primary responsibility for risk prevention and control; strengthen corporate governance; and improve preventive measures such as internal controls, risk classification, and risk early warning systems, firmly establishing the business philosophy of “prioritizing internal controls and grounding operations in compliance.”Government-backed financing guarantee and re-guarantee institutions shall strengthen monitoring of guarantee projects to improve the quality of outstanding business; enhance monitoring of compensation cases to control overall institutional risk; strictly review compensation claims to prevent the transfer of credit risk; and intensify efforts to recover compensation payments to improve recovery efficiency.
This notice shall take effect upon issuance. The policies regarding compensation for defaults and business incentives for government-backed financing guarantee and re-guarantee institutions shall remain valid until December 31, 2028. Where previous relevant regulations of the Autonomous Region conflict with this notice, this notice shall prevail.
January 10, 2025
(This document is publicly released)
