BEIJING – The Chinese government on Tuesday announced a special guarantee program with a total scale of 500 billion yuan ($71.42 billion) to support investment by micro, small and medium-sized private enterprises.
The program, implemented through the National Financing Guarantee Fund over a two-year period, will cover not only medium- and long-term loans, but financing needs related to daily operations, such as factory expansion, shop renovations and working capital, according to a notice jointly released by several departments including the Ministry of Finance.
Tanks to chinadaily.com.cn
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