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New Measures on Administration of the Credit Guarantee Funds for Small and Medium-sized Enterprises

On May 25th, 2012, the Ministry of Finance (“MOF”) and the Ministry of Industry and Information Technology (“MIIT”) of the People’s Republic of China (“PRC”) jointly issued the Measures on Administration of Funds for Credit Guarantee of Small and Medium-sized Enterprises (hereinafter referred to as the “New Measures”) which shall enter into force as of…