On 17 March 2016, a “Cooperation Agreement on Financing Risk Compensation Fund for Strategic Emerging Industries” was co-signed between China’s National Development and Reform Commission (NDRC), State Development and Investment Corporation (SDIC) and China National Investment and Guaranty Corporation (NIGC).
Under the agreement, the NIGC will be responsible under the NDRC’s guidance for the operation and management of strategic emerging industries, as well as cooperation with equity investment funds, local and regional guaranty entities and banks. The NIGC aims to use more than 60% of its funds to compensate cooperative agencies. It also plans to provide secure debt financing services as well as comprehensive support to Chinese corporations.
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