Notice of the Bureau of Science and Technology of Nansha District of Guangzhou Municipality on Issuing the Management Measures of Nansha district for Technology SME Credit Risk Compensation Capital Pool

Management Measures of Nansha District for Technology SME Credit Risk Compensation Capital Pool

Chapter I General Provisions

Article 1 In order to standardize the management of the capital pool for credit risk compensation of small and medium-sized enterprises (SMEs) in science and technology (hereinafter referred to as the "Capital Pool") in Nansha district, give further play to the guidance and leverage of fiscal funds for science and technology, strengthen the combination of scientific and technological elements and financial innovation, promote the transformation and industrialization of scientific and technological achievements, and drive the development of high-tech industries and the transformation and upgrading of industrial structure, in accordance with the Regulations of Guangzhou Municipality on Scientific and Technological Innovation and the Management Measures of Guangzhou Municipality for Technology SME Credit Risk Compensation Capital Pool, these measures are hereby formulated.

Article 2 The Capital Pool is used to encourage banks to increase loan-based support to technology SMEs, and to make limited compensation for the principal loss sustained by cooperative banks due to providing loans to SMEs. The size of the capital pool shall be 60 million yuan ($9.4 million). The district science and technology department shall verify loan projects eligible for the loss compensation herein in the previous year and allocate to them up to 60 million yuan in compensation from its budget every year.

Chapter II Division of Responsibilities and Fund Management

Article 3 The science and technology department of the district shall take charge of the Capital Pool, and its responsibilities are as follows:

1. Collecting and determining the cooperative banks of the Capital Pool, making dynamic adjustments according to annual evaluation results, and taking the lead in formulating relevant institutional documents.