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Financial investment policy

(en.investgz.gov.cn)
Updated: 2015-01-13

The government will actively support eligible enterprises to finance by listing on the stock market and listed companies to refinance. The government will also explore an effective way for unlisted companies to transfer shares and regulate and develop property rights trading market.

The government will extend limits on reloan and rediscount amounts and implement lower deposit reserve ratio for corporate financial institutions.

The government will encourage domestic and foreign financial institutions to establish new rural financial institutions and insurance funds to participate in constructing Guizhou's transportation, energy, water conservancy, municipal utilities, electric network transformation and other infrastructure and key industrial projects.

The government will support the establishment of venture capital inducing funds to aid the development of venture investment and regulate the development of equity investment.

The government will advance the market-oriented process of municipal utilities, open the field of infrastructure investment, and achieve diversification of investors.

The government will make greater efforts in supporting the industrial park construction, investment promotion projects and an open economy, striving to make the annual growth of Guizhou's financial institutions' RMB loan balance supporting export-oriented economy no less than the provincial average during 12th Five Year.

Regarding various types of loans and foreign exchange management, the examination procedures shall be further streamlined and the period of review and audit shall be further shortened.

The government will support qualified enterprises, according to their own development needs, to issue corporate bonds, short-term financing bonds, medium-term notes, SME collection bills and other direct financing tools, and encourage enterprises to finance by listing on the stock market and actively participate in pilot cross-border RMB settlement.

The program "Introduction of banks into Guizhou" will be implemented and domestic and foreign financial institutions will be actively introduced into Guizhou.

The government will improve private enterprise credit-granting system, support the implementation of differentiated supervision on financial services for private enterprises, enhance the tolerance of private SME's proportion of non-performing loans, improve the efficiency of loan approval, increase the growth rate and proportion of loans to private enterprises and the size and proportion of middle and long-term loans to private enterprises.

The government will support financial institutions to innovate financial products and services, promote movable property, accounts receivable, warehouse receipts, equity, productive biological assets, government procurement bid contracts, intellectual property and other collateral loans, thus expanding the scope of guaranty for loans.

Where collateral needs to be appraised, the collateral registration department shall not designate any appraisal agency for the appraisal. The registration department shall not charge extra fees in the process of corporate loan collateral registration. Any appraisal agency shall not charge more than 150% of the specified charging standard for appraising corporate loan collateral.

Banking financial institutions shall intensify strength of credit of industrial transfers that conform to national industrial policy and the requirements of energy conservation and environment protection, and shall positively provide effective credit support for the construction and development of cluster areas for industrial transfer.

Encourage financial institutions to provide financial services including opening an account, closing an account, financing, financial management, etc. Guide financial institutions to make business innovations in line with enterprise demands, and to timely meet the financial service demands of enterprise diversification.

Positively explore pledge loan for intangible assets including intellectual property and patented technology of encouraged industrial transfer enterprises under the condition of controllable risk.

Raising funds in the forms of equity financing, project financing, asset securitization financing for transfer enterprises are within bounds.

Allow enterprises transferred to the industry cluster area to switch the original imported equipment to continually to be used in new enterprises that conform to state encouragement policies, with regulatory deadline calculated successively. For high-tech enterprises outside the province, innovative enterprises at or above provincial level, and key research institutions at home and abroad, as well as pilot test bases settling in industry cluster areas are entitled to the same preferential policies as previous.

Core technology, major equipment research and development project or major imported technology, equipment digestion, absorption, and innovation project that are related to creative industry moving into the industry cluster area are funded by the provincial government.

Encourage development area and industrial park to inject the infrastructure stock assets formed by the construction and development, and the physical assets formed by investments of the fiscal year (including mortgaging assets like land, road, standard plants) into investment and financing companies, thus expanding capital sources of investment and financing companies.

Encourage development area and industrial park to raise funds in the form of issuing enterprise bonds. Support superior enterprises of the development area and industrial park to seek financing by listing on the stock markets of multi-level capital markets at home and abroad (overseas) such as the main-board market, the SME market, the second-board market and the new third board market. Support eligible financing platform companies in the development area to raise funds through non-financial corporate debt financing tools such as medium term notes (MTN), inter-bank private placement bonds, etc.

Encourage and support policy banks and commercial banks to have priority to set up affiliates and websites in the major wine producing area, and to develop the wine industry as important content of credit work. Support the major wine producing area to deepen reform of rural credit cooperatives (RCC), and to build county rural commercial banks; give priority to eligible banking and financial institutions outside the province to initiate village banks in the major wine producing area; encourage financial institutions at all levels to fully develop businesses of white liquor enterprises including patent rights, trademark rights, stock rights, trade debt, order form, movable property mortgage (pledge) loans, so as to expand the scope of collateral and pledge; encourage venture capital funds and private equity funds to invest in white liquor enterprises in our province, and to widen the financing channels of white liquor enterprises.

Encourage enterprises of all kinds in China and abroad, social organizations plus natural persons to establish venture capital enterprises in our province, and encourage the venture capital enterprises to set up affiliates in our province. Vigorously attract domestic and overseas equity investment funds, venture capital funds, social security funds, security companies, insurance companies, and trust and investment corporations as well as other investment institutions to develop venture investment businesses in our province in accordance with the law.