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China National Investment, Guaranty Corp Opens Branch
A branch of China National Investment And Guaranty Corp. was opened Wednesday in Dalian, a port city in northeast China's Liaoning Province.
The sound economic development and investment climate in Dalian convinced the corporation to open its third branch here, company president Liu Xinlai said.
Xia Deren, vice-mayor of Dalian, said the newly-opened branch will help perfect the financial system of the city.
The Dalian Branch will offer some 20 warranties for a range of purposes, including trading contracts, mortgages, real estate, automobile trading, intermediary fees, overseas study, and travel.
China National Investment and Guaranty Corp was co-founded by the Ministry of Finance and the State Economic and Trade Commission in 1993. It has branches in Beijing and Shanghai.
The Corp. has undertaken more than 500 guaranty projects with 2. 2 billion yuan (US$ 265 million) secured. Its assets came to 1.7 billion yuan (US$ 205 million) by the end of last year.
As the country's first guaranty company, it has also established a guarantee fund of 800 million yuan for medium-sized and small businesses in China.
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