With approval of Ministry of Industry and Information Technology and Beijing Municipal People’s Government, established under the leadership and organization of BSAM, Beijing SMEs Credit Re-guarantee Co., Ltd (hereinafter referred to as “Beijing SMEs Credit Re-guarantee”) is the first provincial-level re-guarantor in China. Established on November 16, 2008, it takes shape and functions under the principles of “policy guidance, corporate management and market-oriented operation”. It is not only a fundamental platform for the construction of government financing guarantee system in Beijing, but also an important carrier for Beijing to enforce public fiscal policies and industrial policies.
With capital scale of RMB 3.1 billion at current, Beijing SMEs Credit Re-guarantee is entrusted to manage a dedicated small and micro-sized enterprise guarantee subrogation and compensation fund of RMB 300 million allocated by the Central Finance, as well as micro, small and medium-sized enterprise guarantee risk compensation fund of RMB 50 million allocated by Xicheng District. Engaged in all kinds of guarantee business, Beijing SMEs Credit Re-guarantee not only offers loan guarantee, but also offers financing guarantee (such as aggregate bond guarantee, aggregate bill guarantee and aggregate trust guarantee), as well as non-financing guarantee (such as transaction performance guarantee, litigation preservation guarantee and engineering project guarantee). Beijing SMEs Credit Re-guarantee has the ability to effectively meet the financing needs of various types of micro, small and medium-sized enterprises in different development stages, as well as “Agriculture, Rural Areas and Rural Residents”. Since 2010, Beijing SMEs Credit Re-guarantee has been constantly rated with “AA+-grade credit on capital market”.
Since its inception, Beijing SMEs Credit Re-guarantee has pooled effective resources for re-guarantee business at the core. By “building platforms and mechanisms”, it directs all kinds of social resources to all types of social resources to jointly provide financing services for micro, small and medium-sized enterprises in echo with the policy orientation, thereby making unremitting efforts to improve the local financing environment of micro, small and medium-sized enterprises. Beijing SMEs Credit Re-guarantee takes an active part in credit enhancement, insurance ceding, standardization and leadership, builds and gradually improves financing service platform for micro, small and medium-sized enterprises, characterized by guidance of governmental policies, extensive participation of guarantee institutions, financial institutions and intermediaries, business coverage at city and district levels and product mix of indirect financing and direct financing. At present, business partnership has been established with Beijing-based guarantee institutions and financial institutions specialized in financing guarantee services for micro, small and medium-sized enterprises and “Agriculture, Rural Areas and Rural Residents”.
By the end of 2022, insurance underwriting scale had cumulatively amounted to more than RMB 600 billion and benefited more than 170,000 micro, small and medium-sized enterprises (including rural households), thereby strongly boosting continuously expanding financing scale of micro, small and medium-sized enterprises in Beijing. After National Financing Guarantee Fund was set up in September 2018, it has established business partnership with Beijing SMEs Credit Re-guarantee (one of the eight domestic provincial-level re-guarantee institutions in the first batch). From then on, Beijing’s policy guarantee system has been incorporated into the national guarantee system. In 2022, the scale of businesses, included in National Financing Guarantee Fund through Beijing SMEs Credit Re-guarantee, reached RMB 39.9 billion, up 20% year on year. By the end of 2022, the total amount of guarantee businesses, included in National Financing Guarantee Fund, had registered RMB 127.1 billion. At the same time, since its inception, Beijing SMEs Credit Re-guarantee has provided compensation of more than RMB 1.3 billion for more than 650 subrogation projects of 22 guarantee companies. Magnification ratio and subrogation compensation expenditure of insurance-ceding re-guarantee business come out top in the Chinese re-guarantee industry. Beijing SMEs Credit Re-guarantee not only significantly intensifies anti-risk capability of Beijing guarantee industry, but also thoroughly plays the role of “booster” and “stabilizer” in the industry.
In the future, Beijing SMEs Credit Re-guarantee will give full play to its roles in credit enhancement, insurance ceding, standardization and leadership, encourage and guide all kinds of social resources to provide financing support for micro, small and medium-sized enterprises in echo with the policy orientation, make the best of magnification and guidance of re-guarantee for public fiscal policies, and effectively prop up the development of micro and small-sized enterprises and “Agriculture, Rural Areas and Rural Residents”.
