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Notice

Office of the State Council forward “on the Promotion of the Financing Guarantee Industry Standardized Development Views" to the China Banking Regulatory Commission and other 8 ministries

Office of the State Council forward “on the Promotion of the Financing Guarantee Industry Standardized Development Views" to the China Banking Regulatory Commission and other 8 ministries

 

Office of the State Council issued document No. [2011] 30


The provinces, autonomous regions, municipalities directly under the Central People's government, ministries and commissions of the State Council, organization of each directly under:

    The China Banking Regulatory Commission, development and Reform Commission, Ministry of industry and information technology, the Ministry of finance, Ministry of Commerce, people's Bank of China, Administration for Industry and commerce, office of legislative affairs, " on the promotion of the financing guarantee industry norms of development views" already approved by the State Council, now forward it to you, please seriously carry out.


General Office of the State Council

June 21, 2011


Opinions on the promotion of the financing guarantee industry standardized development


The China Banking Regulatory Commission, Development and Reform Commission, Ministry of industry and information technology, the Ministry of finance, Ministry of Commerce, people's Bank of China, general bureau of administration for Industry and commerce, office of legislative affairs

 

     “The general office of the State Council on further clarifying the supervisory responsibilities for financing guarantee business notice" (General office of the State Council issued document No. [ 2009 ] 7), since it issued, all local people's governments and relevant departments of the State Council have attached great importance to develop, improve policies and regulations, make a clear regulatory responsibility, promote the rectification work, those has been obtained apparent success and effect. However, the financing guarantee industry foundation is weak, long-termed lack of effective supervision, there are some issues like, body size is small, capital is not real, risk resistance ability is not strong etc. Some guarantee agencies engaged in illegal deposits, illegal fund-raising and usury activities, seriously disrupted the market order, and endanger social stability, we need to take further measures to regulate. To carry out the "Twelfth Five-Year Plan" program compendium requirement, promote the financing guarantee industry norms of development, we hereby put forward the following opinions:

 

    Firstly. Unify understanding, make clear the target positioning

    (1) To thoroughly implement the scientific outlook on development, adhere to norms and development, market situations and government guide combination, focus on improving the service ability to the financing guarantee agencies for small and medium enterprises and "Three Rural".

    (2) The overall goal for the financing guarantee industry standardized development is, to accelerate the construction of the financing guarantee system, legal system, supervision system, supportive policy system and industry self-discipline system, to buildup a moderate prudence, coordination, scientific and effective supervision mechanism, to promptly grow up the financing guarantee agencies’ corporate governance, strict internal control, effective risk management, with strong guarantee capacity, and gradually form a rational layout, measurable competition, orderly, efficient operation of the financing guarantee system.

 

    Secondly. Promote the industry construction, realize the sustainable development

    (3) The financing guarantee agencies according to the principle of safety, liquidity, profitability, adhere to take the financing guarantee business as the core business, safely carry out the financing guarantee business. Establish and perfect a sustainable prudent business model fulfilling the operation of the market with there own characteristics, and constantly improve the guarantee capacity. To strengthen corporate governance, internal control and risk management, and other aspects of the system construction, improve the information disclosure system, compliance business operations, improve the financing guarantee agencies sustainable development ability.

    (4) In effective risk control on the premise, to encourage the financing guarantee agencies to actively develop new business, new product, improve the quality and efficiency of service. Encourage the financing guarantee agencies engaged in the industry, professional guarantee business, improve risk identification and management ability, form its own unique professional advantage and competitiveness. Encourage a larger scale, strong financing guarantee agencies to set up branches or business in the county and western regions; encourage the financing guarantee agencies to strengthen the financing guarantee services to the small and medium-sized enterprise and "Three Rural". Encourage the private capital and foreign capital to enter the financing security industry according to the law, enhance industry capital strength, promote market competition, to meet the multi-level, multi-field, different financing demand.

    (5) Strengthen the financing guarantee industry self-discipline organization construction, sufficient play industry association’s important role in the normative management behavior, strengthen self-disciplinary management, to carry out education and training industry, to realize information sharing etc. To make a scientific and reasonable plan for personnel’s training, reserve and use, and gradually perfect the financing security industry directors, supervisors, senior management qualification management system and personnel qualification certification system, improve staffs occupation moral and professional qualities.

 

    Thirdly. Perfect supportive policy, optimize the external environment

    (6) The local people's governments at all levels should be based on the local conditions, scientific planning, rational distribution in accordance with market principles, key support to the financing guarantee agencies which have better management, higher risk control level, and have a certain influence. Make perfect supportive policy system, strengthening the support of fund management, implement to meet the requirements of the financing guarantee agencies and tax preferential policies, to establish benign development mechanism on supporting the good and limiting the bad. To make measures suitable according to local conditions, through the establishment of guarantee agencies, comprehensive use of capital, risk compensation and assessment to reward and other means, to establish and perfect the risk compensation and sharing mechanism, realize the effective support and supervision, improve the financing guarantee agencies service ability.

    (7) Relevant departments should co-ordinate the fiscal support policy, improve supporting measures, and enhance the support strength. The banking regulatory departments should supervise the cooperation of the banking financial institutions and financing guarantee agencies, innovate business model, optimize the approval process, in the premise of clear responsibility, selectively cooperate with financing guarantee agencies to carry out long-term, stability, business cooperation, equality, mutual benefit, to build a win-win cooperation model. Credit management department to constantly improve the financing guarantee credit management system, to promote the information exchange and sharing. Banking financial institutions shall actively provide assistance and convenience on checking and confirming the relevant information for financing guarantee agencies and regulatory authorities in accordance with the law.

    (8) the relevant departments and local people's governments at all levels should conscientiously implement the related system on mortgage (pledge), develop a registration and inquire platform for financing guarantee mortgage (pledge) and the register and query platform; provide the necessary support for the secured creditor's rights protection and recovery, safeguard the legitimate rights and interests of the financing guarantee agencies.

 

    Fourthly, perfect supervision mechanism, strengthen the scientific supervision

    (9) The financing guarantee business regulatory department joint inter-ministerial conference need to strengthen the guidance to the local financing guarantee agencies’ supervision work, establish and perfect the local regulatory performance evaluation system, perfect the joint meeting, local regulatory authorities and other multi-party interaction mechanism. Establish and improve the financing guarantee regulation system, on basis of “Interim Measures for the administration of financing guarantee companies" (China Banking Regulatory Commission document 2010 No.3). To strengthen the supervision to the financing guarantee agencies which invested or held by the government, prevent the financing guarantee risks from transferring into finance risk Accelerate the construction of a unified standard statistical information system; improve the industry statistic and analysis work level.

    (10) Tthe provinces (area, city) people’s government should actively implement the" Interim Measures for the administration of financing guarantee companies" (China Banking Regulatory Commission’s document 2010 No.3) and its related system, accelerate the establishment of a sound regional financing guarantee regulations. Make a strict examination and approval on the financing guarantee agencies’ establishment; strengthen the daily supervision and inspection. Local people's governments at all levels should strengthen the organization and leadership of supervision work on the financing guarantee agencies, personnel, secure local regulators effectively perform their duties from aspects of funds and personnel, guide and supervise the relevant departments to study and solve the issues happened in the regulation work on the financing guarantee industry. Local authorities should build perfect critically effective supervision system, accelerate the construction of the financing guarantee agencies supervision information system, improve the means of supervision, combine supervision in the service, to enhance the effectiveness of supervision, to prevent against systemic and regional risks, promote the financing guarantee industry standardized development.