On February 25 2014, attorney Qi Yan was officially retained by Qinghai Credit Guarantee Group Co., Ltd. as standing legal counsel. During the three-year term, he will advise the company on everyday operation, investment and corporate governance.
Qinghai Credit Guarantee Group Co., Ltd., launched on April 12 2013, is one of the largest state-owned enterprises directly under the administration of the Qinghai government and the biggest credit guarantee company in Northwest China. Its initial registered capital stood at RMB2.657bn and is now up to RMB5bn.
On April 12 2013, Xu Fushun, party secretary and vice-governor of Qinghai province and Gao Yunlong, vice-governor of Qinghai, witnessed the launching of the company. By creating such a company, the government aims to solve the problem of financing and credit guarantee for micro-, small- and medium-sized enterprises in Qinghai, improve Qinghai’s financial guarantee system, enhance cooperation between the banking sector and businesses and support the growth of the local economy.
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