The provincial finance department recently allocated 293 million yuan in financing guarantee fee reduction and subsidy funds for small and micro enterprises by providing an annualized 1% guarantee fee subsidy for the financing guarantee business of eligible small and micro enterprises.
For those who guarantee the stable production and supply of important agricultural products such as grain, oil, pigs, and "vegetable baskets" or high-tech enterprises, the subsidy standard will be increased by 20%. From January to June, Jiangsu innovated its high financing guarantee business, adding 318.5 billion yuan in new business, including 126.5 billion yuan in new business for government financing guarantee institutions. 94.66% are subsidies for supporting small and micro enterprises and supporting agriculture, rural areas, and farmers, with an average annual guarantee rate of only 0.51%, which is far lower than the national standard of 1%, further demonstrating the benefits of supporting small and agricultural policies.
