Venture(US:VEMLY) Jing Ji Ri Bao·2025-12-29 22:20Core Viewpoint - The joint issuance of the "Guiding Opinions on Further Leveraging the Role of Government Financing Guarantee System to Support Employment and Entrepreneurship" aims to enhance the credit and risk-sharing functions of the government financing guarantee system, directing more financial resources to support employment and entrepreneurship, particularly for small and micro enterprises [1][2] Group 1: Government Financing Guarantee System - The government financing guarantee system is crucial for small and micro enterprises, which face challenges such as limited collateral and weak creditworthiness, leading to difficulties in financing [1] - The "Guiding Opinions" will work in conjunction with loan interest subsidy policies to promote effective qualitative and quantitative economic growth, aligning with the central economic work conference's directives [1] - A quantitative evaluation and incentive mechanism will be established to shift the focus of guarantee resources from merely increasing quantity to enhancing quality and efficiency, with an emphasis on the contribution to employment [1][2] Group 2: Employment Contribution Mechanism - The implementation of a dual linkage mechanism ties employment contribution to credit limits and re-guarantee fee discounts, reducing costs for cooperating institutions and ensuring effective policy transmission [2] - The entrepreneurship guarantee loan subsidy policy aims to leverage fiscal funds to support key groups such as college graduates, migrant workers, and veterans in their employment and entrepreneurship efforts [2] - The policy expands support to include previous college graduates and eligible vocational school graduates, addressing current market needs and enhancing fairness and coverage [2] Group 3: Structural Support and Risk Sharing - The Ministry of Finance has developed a three-tier organizational structure for the government financing guarantee system, which includes the National Financing Guarantee Fund, provincial re-guarantee institutions, and municipal and county direct guarantee institutions [3] - The risk-sharing model follows a "20-20-40-20" principle, where different entities share loan risks, achieving full coverage at the municipal and county levels [3] - The cumulative scale of re-guarantee cooperation has exceeded 6.7 trillion yuan, with an average annual growth of approximately 40%, and the average guarantee fee rate has dropped below 1% [3] Group 4: Employment and Economic Impact - Each 1 billion yuan in guarantees is estimated to stabilize over 800 jobs, highlighting the significant impact of the financing guarantee system on employment [4] - The financing guarantee system has served over 5.7 million small and micro enterprises, stabilizing approximately 59 million jobs [4] - The "Guiding Opinions" emphasize the integration of investments in both physical assets and human resources, further enhancing the role of government financing guarantees in stabilizing employment and expanding domestic demand [4]