ANNOUNCEMENT 26 Oct 2018
October 26th, 2018 - The Chinese Government announced a programme to benefit certain SMEs.
NUMBER OF INTERVENTIONS
PRC Ministry of Industry and Information Technology, October 26th, 2018. (财建〔2018〕547号 两部委联合印发《关于对小微企业融资担保业务实施降费奖补政策的通知》)
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.