In addition, the endless engineering quality problems and the "bean curd residue" project denounced by the people not only threaten people's life safety, but also cause huge losses to the national economy, and the image of China's construction industry is also damaged.
The vigorous implementation of the project guarantee system in China has undoubtedly become the "umbrella" for the people, and the payment guarantee provided in the system can effectively prevent and curb the problem of arrears in project funds. In addition, the establishment of project guarantee system also plays an important role in transferring project risks, enhancing the competitiveness of construction enterprises and establishing the credit system of construction market.
According to the analysis of the project guarantee industry research group of Prospective Industry Research Institute, the project guarantee market is a market operating credit risk, and maintaining the credit of the insured is the key to the existence of this market. The development of engineering guarantee in China started late. Facing the ubiquitous competition and legal risks in the market, whether the risk prevention is in place will determine the future development prospects of the market, so that the promises made by the market to the beneficiaries can be successfully fulfilled.
At present, there is a certain gap between the number and financial strength of China's engineering guarantee companies and the international level, and the improvement of the company's solvency is still one of the problems to be solved in the future industry development. Moreover, China's engineering guarantee companies have limited professional talent reserves, which can't meet the needs of market development, so attention should be paid to the cultivation of talents. Finally, the lack of credit records in China's engineering guarantee market, the underdevelopment of social credit industry and high moral hazard will not be conducive to the healthy and orderly development of the industry, so we should strengthen the awareness of risk prevention in this regard.
It is worth noting that although the engineering guarantee industry in China is immature, it also has its own advantages.
The Research Group of Engineering Guarantee Industry of Forward-looking Industry Research Institute pointed out that1People's Republic of China (PRC) Guarantee Law passed on June 30th, 995 drew lessons from the relatively perfect international legal system, which played an important role in promoting financing and commodity circulation in China and ensuring the realization of creditor's rights. In addition, independent accounting firms, law firms and engineering consulting industries are indispensable supporting services for a healthy engineering guarantee market. At present, the domestic related market construction has a certain market foundation, which provides a good development environment for the development of engineering guarantee.