China is taking steps to more tightly manage and supervise loan guarantee services.
A joint meeting involving several government departments, the People's Bank of China, and the Legislative Affairs Office of the State Council is being organized.
The meeting will formulate policies to promote the development of loan guarantee services. Other participants include the Banking Regulatory Commission, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Finance Ministry, and the State Administration for Industry and Commerce. They'll create a management and supervision system for loan services and direct local authorities to undertake risk management.
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