Shenzhen Supports Business Startups with Guaranteed Loans

The Bureau of Human Resources and Social Security, Finance Bureau and Financial Regulatory Bureau of Shenzhen and the Shenzhen Central Sub-Branch of the People’s Bank of China recently issued a joint circular on the implementation measures for entrepreneurship guaranteed loans (Shen Ren She Gui No. 5 [2020]). These measures took effect on 5 June 2020 and will remain in force for five years. They govern subsidised loans to individual business startups or micro and small entrepreneurs who measure up to the requirements stipulated by human resources and social security departments. These include guarantee funds providing guarantee or providing additional credit through mortgage, pledge or other means issued by banks in accordance with stipulated conditions, as well as loans with interest discounts subsidised by fiscal funds supporting individual entrepreneurship or micro and small enterprises to expandemployment.

Source: Shenzhen Municipal Bureau of Human Resources and Social Security