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Notice of Guangzhou Municipal Local Financial Supervision and Administration Bureau on the Issuance of Rules on the Implementation of Funds for the Development of the Financial Leasing Industry in Guangzhou
Update:2021-04-07    Source:  Guangzhou Municipal Local Financial Supervision and AdministrationBureau

  Sui Jin Rong Gui [2021] No. 1

  Notice of Guangzhou Municipal Local Financial Supervision and Administration Bureau on the Issuance ofRules on the Implementation of Funds for the Development of the Financial Leasing Industry in Guangzhou


To all competent district-level authorities overseeing the financial leasing industry and all financial leasing companies:

  The Rules for the Implementation of Funds for the Development of the Financial Leasing Industry in Guangzhou have been approved by the People’s Government of Guangzhou Municipality and are hereby issued for your due implementation. Problems encountered in course of the implementation should be directly reported to the Guangzhou Municipal Local Financial Supervision and Administration Bureau.

  The above are hereby notified.


  Guangzhou Municipal Local Financial Supervision and Administration Bureau

  January 4,2021


  Rules for the Implementation of Funds for the Development oftheFinancial Leasing Industry in Guangzhou

  Chapter 1 General Provisions

  Article 1 In order to promote the high-quality development of Guangzhou’s financial leasing industry, these Implementation Rules are formulated in accordance with the relevant provisions of the Measures on the Management of Dedicated Guangzhou Municipal Fiscal Funds (Sui Fu Ban Han [2020] No. 12).

  Article 2 Funds for the development of Guangzhou’s financial leasing industry are funds in the Special Financial Development Fund earmarked by the municipal government to be used exclusively to support the development of Guangzhou’s financial leasing industry.

  Article 3 The performance targets of funds for the development of the financial leasing industry in Guangzhou are: supporting financial leasing companies in growing bigger and stronger, promoting the development of Guangzhou’s real economy, and improving the environment for the development of the financial leasing industry in Guangzhou.

  Article 4 The Guangzhou Municipal Local Financial Supervision and Administration Bureau, Guangzhou Municipal Finance Bureau, and all relevant district authorities shall duly perform their duties in the management and oversight of dedicated funds in accordance with their respective assigned responsibilities.

  The Guangzhou Municipal Local Financial Supervision and Administration Bureau shall be responsible for theestablishment of funds and applications for their adjustment, budget applications, formulation of plans for the allocation and use of funds, and taking the lead in formulating rules for the use of funds, as well as the organization of project applications, reviews, approvals, information disclosures, supervision, project performance evaluation, and other relevant matters.

  The Guangzhou Municipal Finance Bureau shall be responsible for reviewing the establishment and adjustment of funds, organizing the preparation and implementation of fund budgets, verifying the regulatory compliance of fund arrangement plans, handling fund disbursements, organizing and conducting financial supervision and management of funds, fulfilling the duties of performance management, and other relevant matters.

  The competent district-level authorities overseeing the financial leasing industry shall be responsible for the preliminary review of each project, and shall cooperate with the Guangzhou Municipal Local Financial Supervision and Administration Bureau and Guangzhou Municipal Finance Bureau in fulfilling relevant duties.

  Chapter 2 Recipients, Scope and Levels of Support

  Article 5 Applying entities shall meet the following basic requirements:

  5.1.Registered according to law and operating as a going concern;

  5.2.Deemed qualified to engage in relevant commercial activities after approval from or filing with relevant state, provincial or municipal authorities in accordance with relevant regulations;

  5.3.No record of penalties for legal or regulatory infractions and a good credit record;

  5.4.Satisfaction of all other conditions as prescribed by regulations.

  Article 6 The scope and level of funding support are as follows:

  6.1.Subsidies for projects involving aircraft and ships.

  6.1.1.For a new leasing project involving aircraft or ships, a subsidy not exceeding 0.1% of the contract value of the project shall be disbursed. The maximum subsidy for a single project shall not exceed CNY 1 million.

  6.1.2.For a leasing project involving disposed and old aircraft or ships, the subsidy shall not exceed 0.5% of the contract value of the project, and the maximum subsidy for a single project shall not exceed CNY 1 million.

  6.2.Subsidies for projects not involving aircraft and ships.

  Excluding projects involving aircraft and ships, where financial leasing companies in Guangzhou provide financial leasing services for local enterprises, or purchase equipment manufactured by advanced manufacturing enterprises in Guangzhou for outbound financial leasing services:

  6.2.1For a project with a single financial leasing contract value worth CNY 20 million or above, the subsidy will be granted in proportion to the total amount invested in the project. For a direct financial leasing project, a subsidy not exceeding 0.5% will be given. For a leaseback project, a subsidy not exceeding 0.2% will be given. For any single project, the maximum subsidy will not exceed CNY 5 million.

  6.2.2.For a project involving small and micro businesses, agriculture, rural areas, farmers, and green businesses, and where each single financial leasing contract has a value less than CNY 20 million and the accumulated value of financial leasing contracts is CNY 20 million or above, the subsidy will be granted in proportion to the total amount invested in the project. A subsidy not exceeding 0.5% of the total investment amount will be given for such aforesaid projects, capped at a maximum of CNY 5 million for a single enterprise.

  For adjustments in the serviceable scope and purpose of funds, increases or decreases in the allocation of funds, and establishment or adjustment of supporting items, the Guangzhou Municipal Local Financial Supervision and Administration Bureau shall submit an application to the Guangzhou Municipal Finance Bureau, and report the same to the Guangzhou Municipal People’s Government for review and approval.

  Chapter 3 Project Management

  Article 7 The Guangzhou Municipal Local Financial Supervision and AdministrationBureau shall issue application guidelines to specify the serviceablescope of funds, supported recipients, application requirements, application procedures, and other relevant matters.

  Items declared by an applicant shall meet the following basic requirements:

  7.1.Application materials must be true, accurate and complete;

  7.2.The applicant may not engage in falsification and fraudulently obtain or defraud special financial funds;

  7.3.In principle, repeated applications for the same item may not be submitted by the same enterprise, or by a parent company and its subsidiary.

  Article 8 Projects applied for shall be reviewed according to the following procedures:

  8.1.Preliminary review of projects. The preliminary review shall be conducted by the competent district-level authorities overseeing the financial leasing industry and reported to the Guangzhou Municipal Local Financial Supervision and Administration Bureau;

  8.2.Further review of projects. The Guangzhou Municipal Local Financial Supervision and Administration Bureau will conduct further review of projects submitted by competent district-level authorities overseeing the financial leasing industry;

  8.3.Final review of projects. The Guangzhou Municipal Local Financial Supervision and Administration Bureau will conduct final review of project application materials by means of entrusting an agency, organizing a group of experts or through internal review.

  Article 9 Except for matters that need to be kept confidential, projects that have been reviewed, and for which funds are planned to be allocated, will be listed by Guangzhou Municipal Local Financial Supervision and Administration Bureau on its official public website for 7 working days. Any objection to the projects listed will be dealt with by Guangzhou Municipal Local Financial Supervision and AdministrationBureau with solution opinions.

  Article 10 TheGuangzhou Municipal Local Financial Supervision and Administration Bureau shall, in accordance with regulations on departmental budget preparations and annual performance targets, organize and carry out work regarding project applications and prepare the fund budget for the next year. For funds without clear project information, a specific user and an allocated quota, a fund allocation plan shall be formulated by the Guangzhou Municipal Local Financial Supervision and Administration Bureau within 60 days from the date that finance authorities approve the departmental budget, which shall then be filed with the Guangzhou Municipal Finance Bureau. The Guangzhou Municipal Local Financial Supervision and Administration Bureau shall determine in detail the specific users of the aforesaid funds in accordance with regulations.

  Article 11 Guangzhou Municipal Local Financial Supervision and AdministrationBureau shall timely proceed with the application procedures for funds to be allocated to project implementation entities in accordance with relevant regulations on centralized disbursement of funds from the National Treasury.

  Chapter 4 Supervision, Management and Accountability

  Article 12 Except for matters that need to be kept confidential, relevant information on funds shall be disclosed for oversight by the public. Contents to be disclosed are as follows:

  12.1.Implementation rules;

  12.2.Application guidelines;

  12.3.Information on applications for project funds, allocation progress, allocation results, and performance evaluation;

  12.4.Complaints received from the public and their handling;

  12.3.Other contents required by regulations to be disclosed.

  Article 13 The Guangzhou Municipal Local Financial Supervision and AdministrationBureau shall conduct performance evaluations on the use of funds in accordance with relevant regulations. Project entities shall carry out self-evaluation of performance as required, and proactively accept performance evaluations carried out by relevant municipal and district authorities or a third-party agency entrusted by them.

  Article 14 The Guangzhou Municipal Local Financial Supervision and AdministrationBureau shall supervise and inspect the use of funds. Project entities shall consciously accept supervision, inspections and audits carried out by financial and other relevant authorities.

  Article 15 An applicant who has received funds shall use the funds for the specified purposes only, proceed with the corresponding financial and accounting treatment in accordance with financial regulations, and establish a sound system to manage its projects and financial records.

  Article 16 In the process of applying for and using funds, if an applicant commits illegal acts such as fraudulently acquiring funds by means of false applications or false claims, intercepting or misappropriating funds, or changing the purposes for which funds are to be used without authorization, the case shall be dealt with in accordance with relevant state regulations. Those suspected of committing crimes shall be referred to judicial authorities.

  Chapter 5 Supplementary Provisions

  Article 17 These Rules shall come into force from the date of issuance and remain valid for 3 years.

  Mode of Disclosure: Active Disclosure

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