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Guizhou's first private lending service center opens

By Li Jun ( chinadaily.com.cn)

Updated: 2014-02-28

The Guizhou Private Lending Service Center was set up on Monday. It is the first and only center authorized by the government to provide private lending service, establishing financing standards that are systematic and public.

The lending center would bring in intermediary organizations to provide services of registration, notarization and asset appraisal. The center will act as a platform for the two sides of a lending transaction. Meanwhile, the center also helps investors choose safe channels and projects, and entrepreneurs find legal sources of funding.

There is abundant private capital, strong credit demand and an active financial market in the capital city, Guiyang, which helps promote the development of Zhongguancun Science Park there. The municipal government issued related policies last year, launching pilot projects offering private lending services.

The government-authorized private lending center can effectively gather private capital and lead more funds to support the construction of the science park, according to Wang Yuxiang, deputy mayor of Guiyang.

Wang hopes the center can better energize the city's folk capital and bring in funds from developed places to help more small companies access capital, thereby propelling the development of Guiyang.

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