Dacheng Attorneys Advise Guangdong Technology Financial Group on Forming Microcredit and Guarantee Companies

On December 26 2013, Guangdong Technology Microcredit Co., Ltd. and Guangdong Technology Financing Guarantee Co.,Ltd. were officially open for business. A Dacheng team led by attorneys Zhang Zhike and Zhao Ya from Guangzhou advised on the formation of the two companies.
 
Guangdong Technology Microcredit Co. is the only microcredit company in Guangdong authorized to operate business across regions, while Guangdong Technology Financing Guarantee Co. is the only provincial state-owned financing guarantee company in Guangdong with up to RMB5bn of credit grants from a number of banks, including China Development Bank. Committed to serve small- and medium-sized technology companies in Guangzhou, the two companies are integrated into a comprehensive financial service network under Guangdong Technology Financial Group, which manages and operates venture capital, financial leasing, industry investment fund and an intellectual property assessment and trading platform, in an effort to boost technological innovation and industrial upgrading in Guangdong.