Hubei Guarantee Group Co., Ltd., based on the local economic construction of Hubei Province, is mainly engaged in loan guarantee, bill acceptance guarantee, trade financing guarantee and other businesses
Hubei Guarantee Group Co., Ltd. (hereinafter referred to as "Hubei Guarantee Group") was established in February 2005 with a registered capital of 3.05 billion yuan, and is now a subsidiary of Hubei Liantou Holdings Co., Ltd., and was elected as the president unit of Hubei Guarantee Industry Association.
The predecessor of the Provincial Guarantee Group was the first state-owned provincial professional guarantee platform established under the direct care of the Hubei Provincial Party Committee and the Provincial Government - Hubei China Enterprise Investment Guarantee Co., Ltd. (hereinafter referred to as "China Enterprise Guarantee"). In 2012, CE Guarantee successfully introduced a strategic investment of US$50 million from Bank of China Investment Asset Management Co., Ltd., increasing the company's registered capital from RMB420 million to RMB936 million. In August 2013, CE Guarantee joined Hubei Liantou Holdings Co., Ltd. In December 2013, CE Guarantee increased its registered capital from RMB936 million to RMB2 billion. In September 2014, with the approval of the provincial government, CE Guarantee officially changed its name to Hubei Guarantee Group Co., Ltd. In December 2014, the registered capital of the Provincial Guarantee Group increased from RMB 2 billion to RMB 3 billion. In July 2015, the registered capital of the Provincial Guarantee Group increased from RMB 3 billion to RMB 3.05 billion. In July 2015, the Provincial Guarantee Group's guarantee business capabilities, risk management capabilities, innovation and development capabilities and many other core business capabilities were recognized by a number of mainstream rating agencies, and obtained AA subject credit ratings.
Since its establishment, the Provincial Guarantee Group has been adhering to the development idea of "supporting the development of small and medium-sized enterprises, building a credit guarantee system, and promoting local economic construction", and has gradually formed a bank cooperation network covering the whole province, a unique guarantee business brand, and a scientific and standardized internal management mechanism. At the same time, the Provincial Guarantee Group has established cooperative relations with all Chinese-funded banks in the province, as well as mainstream brokerages, fund companies, trust companies and asset management companies, becoming the largest and most comprehensive provincial state-owned financing guarantee platform in Hubei Province, and occupying the core and leading position in the province's guarantee system. As of the end of 2015, according to the calculation of the promotion effect on enterprises and social economy, the provincial guarantee group has increased the sales revenue of the insured enterprises by nearly 65.849 billion yuan, the new profits by nearly 5.010 billion yuan, the new tax revenue by nearly 3.653 billion yuan, and the new jobs by nearly 165,200, and achieved good economic and social benefits.
In the future, the Provincial Guarantee Group will implement the instructions of the Provincial Party Committee and the Provincial Government to "support the development of small and medium-sized enterprises, build a credit guarantee system, and promote local economic construction", and in accordance with the development strategy of "100 billion financial sector" of Liantou Group, gradually improve its capital strength, improve its governance structure, promote business transformation, consolidate its management foundation, provide guarantee, financing, equity investment and intermediary services for enterprises, and strive to build itself into a first-class comprehensive financial holding group "based in Hubei and looking at the whole country".
