Wang Fenghe Participates in Legislation of “Provisional Regulations on Companies Performing Financial Guaranties”

Recently, the “Provisional Regulations on Companies Performing Financial Guaranties” was officially approved to be released by the State Council.
 
At the legislative session, Dacheng Partner Wang Fenghe participated in the discussion session and submitted a revision of the “Provisional Regulations on Companies Performing Financial Guaranties” written by a team from the Dacheng Finance Department. The main contents of the revision include: national financial regulation mechanisms concerning financial guaranty institutions, the standard operation of companies providing secondary guaranties, risk preparedness mechanisms, financial regulation laws and others.
 
The “Provisional Regulations on Companies Performing Financial Guaranties” formally puts such companies under the management mechanisms of financial fund-raising institutions, changing financial guaranty institutions from commercial legal entities to financial non-banking institutional entities, providing the possibility of close public collaboration between financial guaranty companies and banks.