Notice on the Issuance of the SME Credit Guarantee Fund Management Measures

 

Cai-Qi No.[2010] 72

   The provinces, autonomous regions, municipalities directly under the central government, specifically designated in the state plan cities general office of finance ( bureau ), the administrative department of the information industry, small and medium-sized enterprise supervision departments, the Xinjiang production and Construction Corps, finance bureau, the administrative departments for the small and medium-sized enterprise:

 

    To regulate and strengthen the SME credit guarantee fund management, raise the efficiency of capital use, the Ministry of finance, the Ministry of industry and information research to develop a" small and medium enterprise credit guarantee fund management Interim Measures"  now is issued to you, please follow.

 

    Attachment: small and medium enterprise credit guarantee fund management Interim Measures

 

    The Ministry of Finance and the Ministry of industry and information

 

April 30th 2010

Attachment:

 

Small and Medium Enterprise Credit Guarantee Fund Management Interim Measures

 

    Chapter 1 General Rules

    Article1 To regulate and strengthen the SME credit guarantee fund management, raise the efficiency of capital use, according to" the budget law of the peoples Republic of China " and other laws, and regulations, this provision is formulated.

    Article 2 SME Credit Guarantee Fund ( hereinafter referred to as the guarantee fund ) is based on" the people's Republic of China Law on promoting medium and small enterprises"," the State Council on further promoting small and medium enterprise development opinions" (Guo-Fa No.[ 2009 ] 36), is the arranged by the central finance, specifically to support SME credit guarantee agencies (hereinafter referred to as the guarantee agencies ), SME credit re-guarantee agencies ( hereinafter referred to as the re-guarantee agencies ) to enhance the operational capabilities, expand the small and medium-sized enterprise guarantee business, improve the financing environment of small and medium-sized enterprises financing.

    Article 3 The management of guarantee funds shall follow the principle of open and transparent, directional use, scientific management, to strengthen the supervision, ensure capital uses standardized, safe and efficient.

    Article 4 The Ministry of finance is responsible for the guarantee funds budget management, allocation of funds and funds appropriation, and conduct supervision and inspection to the use of funds.

The Ministry of industry and information is responsible for determining the support direction and focusing points of the year of guarantee funds, in conjunction with the Ministry of finance to audit the declared project audit and supervise and inspect the implementation of projects.

 

    Chapter 2 Approaches and Amounts of Support

    Article 5 Guarantee fund to take the following kinds of support:

    (1) Business subsidies, is to encourage guarantee and re-guarantee agencies to provide financing guarantee (re-guarantee) service for small and medium enterprises especially small enterprises. For the qualified guarantee agencies, the total subside amount is no more than 2% of the annual guaranteed amount of SMEs guarantee business; for the qualified guarantee agencies, the total subside amount is no more than 0.5% of the annual re-guaranteed amount of SMEs re-guarantee business.

    (2) Premium subsidies encourage the guarantee mechanism for small and medium-sized enterprises to provide low rate of guarantee service. Without raising other expenses standards under the premise of guarantee agencies, guarantee rate lower than bank loans benchmark interest rate 50% of the small and medium-sized enterprise financing guarantee business grant, subsidy ratio does not exceed the bank loans benchmark interest rate 50% and the actual guarantee rate difference.

    (3) Capital investment is to encourage the guarantee mechanism to expand the scale of capital, improve credit level, and enhance professional ability. Under special circumstances, capital support, which is in accordance with not more than 30% new investment, is given to the security agencies meet the requirements and guarantee agencies

    (4) The other. To encourage and guide the guarantee agency, re-guarantee agency of SME credit guarantee (re-guarantee) business support of the other way.

Article 6 In accordance with the terms of the guarantee agency guarantee mechanism can simultaneously enjoy the above which is not limited to a support forms, but generally a single security agency, re-guarantee agencies had secured funding amount of not more than 30,000,000 Yuan, except in special circumstances.

 

    Chapter 3 The Application Conditions and Requirements

    Article 7 Guarantee agencies that apply for guarantee funds must also meet the following conditions:

    (1) According to relevant state laws, regulations and the establishment must have independent corporate qualifications.

    (2) It has run the guarantee business for more than 1 year (included) without bad credit records.

    (3) The guarantee business is in accordance with the relevant state laws, regulations, provisions on the administration of the business and industry policy, in the past the new SME guarantee business accounted for more than 70% of the total amount of new guarantee business; new single guarantee liability amount is lower than 15 Million Yuan ( including 15Million Yuan, similarly hereinafter ) , guarantee business is accounted for more than 70% of the total amount of new guarantee business, or the total new single liability amount that is lower than 15 Million Yuan is more than 300 Million Yuan.

    (4) It is required that the individual enterprise guarantee liability does not exceed 10% of net assets of guarantee agency.

    (5) The new guarantee business amounted is more than 3 times of net assets, and the compensation rate of less than 3%.

    (6) The average annual guarantee rate is not higher than 50% of bank loan datum interest rate.

    (7) A completed internal management system, standardized operation, in accordance with the provisions of the reserve funds.

    (8) The other.

    Article 8 Guarantee agencies that apply for guarantee funds must also meet the following conditions:

    (1) It is according to relevant state laws, regulations and the establishment with independent corporate qualifications.

    (2) Taking guarantee organizations as the main service targets, the SMEs credit business for more than 1 year (included).

    (3) It is required that guarantee business should be in accordance with the relevant state laws, regulations, provisions on the administration of the business and industry policy, in addition the new small and medium-sized re-guaranteed business accounted for new re-guarantee business should be more than 70% of the total; the new single re-guaranteed business amount i.e. lower than 15 Million Yuan should be more than 70% of the total business, or more than 2BillionYuan.

    (4) The new re-guarantee business amounted is more than 5 times of the net assets of the year.

    (5) The average annual re-guarantee rate should be no more than 15% of bank loan datum interest rate.

    (6) A complete internal system and standardized management is required.

    (7) The other.

    Article 9 guarantee organizations and re-guarantee organizations that apply for guarantee funds should also provide the following information:

    (1) Copy of the legal license and regulation.

    (2) The annual audit accounting statements by a Certified Public Accountant (CPA).

    (3) Specific audit report of guarantee business by CPA (including the guarantee business details and the extraction of risk reserve etc.).

    (4) Copy of the guarantee business charges certificate.

    (5) The other required information.

 

    Chapter 4 Funds Application, Audit and Appropriation

    Article 10 In accordance with the provisions the Ministry of industry and information technology, the Ministry of finance will issued a notice declaration together to clarify the support key, funding ratio, specific conditions, application organization of the guarantee funding.

    Article 11 Provinces, autonomous regions, municipalities directly under the central government, cities specifically designated in the state plan financial department and the small and medium-sized enterprise management department ( hereinafter referred to as the provincial public finance department and the provincial small and medium-sized management ) is responsible for project funds application audit in the corresponding region.

    Article 12 Provincial small and medium-sized enterprise management departments together with the finance department at the same level in the region is responsible for organizing guarantee funds application within the scope of public organization.

    Article 13 Provincial small and medium-sized enterprise management departments together with the finance department at the same level should establish an expert review system and assess projects according to the provisions of the declaration and the notification requirement.

    Article 14 The provincial public finance department together with small and medium-sized enterprise management at the same level determine the projects based on the experts’ suggestion, and within the stipulated time, will submit guarantee funds application report, expert opinion papers and other relevant materials to the Ministry of finance, the Ministry of industry and information technology.

    Article 15 The Ministry of information industry together with the Ministry of Finance will audit the application reports and projects, and make the project plan.

    Article 16 According to the approved project plan the Ministry of finance determines the project funding support, the validation of financing plan, project expenditure budget quota to the provincial financial departments, and release guarantee funds according to the budget management provisions.

    Article 17 Guarantee agencies and/or re-guarantee agencies after receiving guarantee funds, should conduct financial processing in accordance with the relevant financial and accounting rules.

 

    Chapter 5 Supervision and Inspection

    Article 18 The provincial public finance department together with the small and medium-sized enterprise management supervise the guarantee fund declaration, examination and use. The local financial supervision commissioner's offices assigned by the Ministry of finance have the right to supervise the funds allocated to the use irregularly.

    Article19 The guaranteed institution and re-guaranteed institution acquired found support, should properly keep the relevant original bills and vouchers for reference in accordance with the relevant financial provisions. And should actively cooperate with and provide relevant information for the inspection from the public finance departments at all levels, the Ministry of finance the local financial supervision commissioner's offices and the small and medium-sized enterprise management department as well.

    Article20 Guaranteed agencies and re-guarantee agencies acquired guarantee funds should submit annual financial report including related assets, guarantee funds use, performance, to the provincial small and medium-sized enterprise management departments and the provincial public finance departments in the first month of every year, at the same time the above materials in electronic version should be submitted to the Ministry of industry and information technology, the Ministry of finance.

    Article21 Provincial small and medium-sized enterprise management departments and the provincial public finance departments shall establish the guarantee funds used to ask, follow-up effect and performance evaluation mechanism, and submit fund use summary report and the report of the development of SME credit guarantee agencies to the Ministry of industry and information technology, the Ministry of finance before the end of the second month of each year.

    Article 22 Guarantee funds must be earmarked for use, once it is verified that is in violation of the provisions, funds secured behavior, the Ministry of finance will retract the arrangement guaranteed funding, and carry on further processing in accordance with the" Regulations on penalties and sanctions against Illegal Fiscal Acts" ( State Council Order No. 427 ) the related stipulation.

 

    Chapter 6 Annex

    Article 23 The provincial public finance department and the provincial small and medium-sized management can formulate specific implementation measures according to these measures and in combination with the actual situation.

    Article 24 The Ministry of Finance together with the Ministry of industry and information technology is responsible for the interpretation of this rule.

    Article 25 It is valid since the date of implementation of print and distributes.