Can a subsidiary provide a guarantee for the parent company?

Of course.

According to Article 16 of the Company Law of People's Republic of China (PRC), the resolution of a company to invest in other enterprises or provide guarantees for others shall be decided by the board of directors or the shareholders' meeting in accordance with the provisions of the articles of association. The articles of association limit the total amount of investment or guarantee or the amount of individual investment or guarantee, so it shall not exceed the prescribed limit. Where a company provides a guarantee for the company's shareholders or actual controllers, it must be resolved by the shareholders' meeting or the shareholders' meeting.