Page 74 - 2021 Special Report
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of Guangdong Province and Guangzhou Ligen been formulated to properly use foreign capital,
to increase the supply of small loans and small promote its steady stock and increase, make
re-loans. Reduce annual comprehensive real every effort to stabilize the basic stock of foreign
interest rates by 5% to 10% for loans to COVID-19 capital, enhance its role in promoting economic
prevention and control related enterprises and development, and accelerate the realization of
enterprises that have been heavily affected by the high-quality economic development through high-
epidemic, and re-loans to micro-credit companies level opening up.Outline of the Development Plan
involved in epidemic prevention and control. for the Guangdong-Hong Kong-Macao Greater
Special teams shall be arranged for enterprises Bay Area
in industries necessary for epidemic prevention,
such as manufacturing of medical devices, drugs I. Further open up
and medical supplies. Eligible loan applications
will be released within 5 working days. Encourage (i) Fully implement the pre - establishment
micro-credit to lower loan interest rates, reduce national treatment management system
formality fees, extend or postpone loans for 1-3 and negative lists for foreign investment and
months, waive penalty interest for 1-3 months, implement the “Special Management Measures
improve loan renewal arrangements, and for Foreign Investment Access (Negative List)
increase credit loans and medium- and long- (2020 Edition)”. Encourage foreign investment in
term loans for COVID-19 prevention and control new energy vehicles and relax restrictions on the
enterprises, and enterprises and individuals proportion of foreign shares in commercial vehicle
affected by the epidemic. manufacturing. Support those foreign parties
supporting Sino-foreign passenger vehicle joint
(ii) Appropriately relax the financing leverage ventures to transfer average fuel consumption
of outstanding micro-credit companies. With and new energy vehicle points according to
the approval of the Provincial Local Financial regulations. Cancel restrictions on the proportion
Supervision and Regulation Bureau, the financing of investment and length of employment of
balance of micro-credit companies with good foreign investors in the establishment of foreign
regulatory indicators and active participation in talent agencies and job agencies.
epidemic prevention and control can be relaxed to
no more than 5 times of net assets, the maximum (ii) Accelerate the opening up of the financial
balance of single-family loans will be raised to services sector. Support foreign-invested
no more than 5% of the registered capital and enterprises in facilitating payment of income from
no more than 10 million RMB. Among them, capital accounts. Support overseas institutional
the balance of funds absorbed through non- investors to invest in mainland private equity
standard financing methods such as loans from funds and venture capital enterprises (funds)
banks, small re-loan companies and corporate in the Greater Bay Area of Guangdong, Hong
shareholders shall be relaxed to no more than 2 Kong and Macau through Qualified Foreign
times of net assets; the balance of funds issued by Limited Partners (QFLP). Allow foreign-capital
bonds, securitized assets and other standardized enterprises to go through the procedures of
financing instruments on the Exchanges of registration, alteration and cancellation of the
Shanghai and Shenzhen, will be relaxed to no basic information of domestic direct investment
more than 3 times of net assets. in banks under their jurisdiction. Carry out trials
to reform the registration and management of
Notice on Measures to Further Stabilize For- foreign debts, allowing foreign-capital enterprises
to register foreign debts in a lump sum twice their
eign Investment net assets, and to raise cross-border financing
within the registered amount. Foreign capital
On 21 July 2020, the General Office of the enterprises are allowed to borrow foreign debt
Guangdong Provincial People's Government from the management mode of "bet difference"
issued the “Notice on Measures to Further Stabilize to the macro-prudential management mode of
Foreign Investment”. The following measures have cross-border financing. Explore pilot projects to
74
to increase the supply of small loans and small promote its steady stock and increase, make
re-loans. Reduce annual comprehensive real every effort to stabilize the basic stock of foreign
interest rates by 5% to 10% for loans to COVID-19 capital, enhance its role in promoting economic
prevention and control related enterprises and development, and accelerate the realization of
enterprises that have been heavily affected by the high-quality economic development through high-
epidemic, and re-loans to micro-credit companies level opening up.Outline of the Development Plan
involved in epidemic prevention and control. for the Guangdong-Hong Kong-Macao Greater
Special teams shall be arranged for enterprises Bay Area
in industries necessary for epidemic prevention,
such as manufacturing of medical devices, drugs I. Further open up
and medical supplies. Eligible loan applications
will be released within 5 working days. Encourage (i) Fully implement the pre - establishment
micro-credit to lower loan interest rates, reduce national treatment management system
formality fees, extend or postpone loans for 1-3 and negative lists for foreign investment and
months, waive penalty interest for 1-3 months, implement the “Special Management Measures
improve loan renewal arrangements, and for Foreign Investment Access (Negative List)
increase credit loans and medium- and long- (2020 Edition)”. Encourage foreign investment in
term loans for COVID-19 prevention and control new energy vehicles and relax restrictions on the
enterprises, and enterprises and individuals proportion of foreign shares in commercial vehicle
affected by the epidemic. manufacturing. Support those foreign parties
supporting Sino-foreign passenger vehicle joint
(ii) Appropriately relax the financing leverage ventures to transfer average fuel consumption
of outstanding micro-credit companies. With and new energy vehicle points according to
the approval of the Provincial Local Financial regulations. Cancel restrictions on the proportion
Supervision and Regulation Bureau, the financing of investment and length of employment of
balance of micro-credit companies with good foreign investors in the establishment of foreign
regulatory indicators and active participation in talent agencies and job agencies.
epidemic prevention and control can be relaxed to
no more than 5 times of net assets, the maximum (ii) Accelerate the opening up of the financial
balance of single-family loans will be raised to services sector. Support foreign-invested
no more than 5% of the registered capital and enterprises in facilitating payment of income from
no more than 10 million RMB. Among them, capital accounts. Support overseas institutional
the balance of funds absorbed through non- investors to invest in mainland private equity
standard financing methods such as loans from funds and venture capital enterprises (funds)
banks, small re-loan companies and corporate in the Greater Bay Area of Guangdong, Hong
shareholders shall be relaxed to no more than 2 Kong and Macau through Qualified Foreign
times of net assets; the balance of funds issued by Limited Partners (QFLP). Allow foreign-capital
bonds, securitized assets and other standardized enterprises to go through the procedures of
financing instruments on the Exchanges of registration, alteration and cancellation of the
Shanghai and Shenzhen, will be relaxed to no basic information of domestic direct investment
more than 3 times of net assets. in banks under their jurisdiction. Carry out trials
to reform the registration and management of
Notice on Measures to Further Stabilize For- foreign debts, allowing foreign-capital enterprises
to register foreign debts in a lump sum twice their
eign Investment net assets, and to raise cross-border financing
within the registered amount. Foreign capital
On 21 July 2020, the General Office of the enterprises are allowed to borrow foreign debt
Guangdong Provincial People's Government from the management mode of "bet difference"
issued the “Notice on Measures to Further Stabilize to the macro-prudential management mode of
Foreign Investment”. The following measures have cross-border financing. Explore pilot projects to
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