It was known by the reporter from Anhui provincial government that to enhance the supervision and management on financing guarantee companies, regulate the financing guarantee acts and promote the sound development of the financing guarantee industry, the province prescribed the implementation of the approval access system for financing guarantee companies, with the registered capital of RMB5m to the minimum and fully paid by sponsor or contributor in a lump sum.

In accordance with the recently released the Provisional Measures of Anhui Province for the Administration on Financing Guarantee Companies, the establishment of a financing guarantee company or its branch should be reviewed and approved by one competent authority of the industry which shall issue the business license upon the approval of establishment and the financing guarantee company and its branch shall hold the business license to apply for registration in the industrial and commercial management department.