The Beijing Municipal Bureau of Financial Work said that Beijing Capital Investment & Guarantee Co. Ltd and Beijing Zhongguancun Sci-Tech Guaranty Co. Ltd. had each formed alliances regarding financing guarantees, and will serve small and medium-sized enterprises. The financing guarantees refer to guarantors that allow banking and financial institutions and other creditors to withstand financial debt.

Beijing Capital Investment & Guarantee Co. Ltd is set to cooperate with 18 other financing guarantee companies, and Beijing Zhongguancun Sci-Tech Guaranty Co. Ltd. aims to cooperate with 5 financing guarantee companies and has also signed agreements with 2 asset management companies.

]The two alliances will share resources and risks, providing support and help for members. An official with the Beijing Municipal Bureau of Financial Work said that the financing guarantee business will boost the growth of small and medium-sized enterprises, resolve their financing difficulties and also contribute to the economic development of Beijing.