The Company Law stipulates that external guarantees that must be approved by the shareholders' meeting include:
(1) Any guarantee provided by the listed company and its holding subsidiaries after the total external guarantee reaches or exceeds 50% of the latest audited "net assets";
(2) Any guarantee provided by the listed company after the total amount of external guarantee reaches or exceeds 30% of the latest audited "total assets";
(3) Guarantee provided for the secured object whose asset-liability ratio exceeds 70% after borrowing;
(4) A single guarantee with an amount exceeding 10% of the latest audited net assets;
(5) Guarantees provided by listed companies to shareholders, actual controllers and their related parties.
The rest of the guarantee depends on whether there are provisions in the company's articles of association.
If it is not stipulated that it can be authorized by the board of directors at this ratio, it can be guaranteed externally.
Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.