legal ground
Article 6 of the Regulation on Supervision and Administration of Financing Guarantee Companies
The establishment of a financing guarantee company shall be approved by the supervision and administration department.
Without the approval of the supervision and administration department, no unit or individual may engage in financing guarantee business, and no unit may use the word financing guarantee in its name. Unless otherwise stipulated by the state.
Article 7
The establishment of a financing guarantee company shall comply with the provisions of the Company Law of People's Republic of China (PRC) and meet the following conditions:
(1) The shareholders have a good reputation and have no record of major violations of laws and regulations in the last three years;
(2) Its registered capital is not less than 20 million yuan, and it is paid-in monetary capital;
(3) The directors, supervisors and senior managers to be appointed are familiar with the laws and regulations related to financing guarantee business, and have the professional experience and management ability required to perform their duties;
(4) Having sound internal management systems such as business norms and risk control.