ANNOUNCED AS TEMPORARYNo
Interest payment subsidy
On October 26th, 2018, the Chinese government released Caijian 2018/547 (hereafter, 'Annnouncement'), which announced a new scheme to ease the financing conditions of SMEs.
The Announcement stated that a budget of USD 430m (CNY 3bn) would be annually available to firms, both to SMEs as well as subsidiaries of larger firms, to cover part of their expenditures on financial guarantees.
The Announcement clarified that there are four tiers of funding available, thus:
All amounts are annually available from 2018-20. The funds will be distributed provincially based on data acquired from an internal Chinese SME data reporting index.
Only domestic SMEs are eligible for the funding.
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