Date
21 October 2017

Shanghai’s biggest financing guarantee firm launched, paper says

A government-backed financing guarantee company started operating in Shanghai on Thursday, marking the biggest of its kind in the financial hub, Xinhua news agency reported on Thursday. The start-up, jointly established by the Pudong New Area government and Shanghai Guosheng (Group) Co. Ltd., has registered capital of 800 million yuan (US$131 million), it said. The company will branch out into Shanghai’s newly established free trade zone and the Zhangjiang high-tech zone to better serve companies such as those from the high-tech and logistics sectors, according to the report.

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