In order to advance the implementation of the Shanghai Agreement and promote the co-operative relations among institutions in the same trade, after thorough discussion, all subscribers of this agreement agreed to establish a broader and more effective alliance on the basis of the Shanghai Agreement. All the cooperative parties expressed their willingness to jointly promote the healthy development of Chinese guarantee business with equal status, common purpose and concepts, creditworthy behaviors and cooperative principles. The subscribers of the Agreement therefore established the China Guarantee Alliance and concluded the Alliance through the allied announcement.

China Guarantee Alliance comprises mainly of specialized guarantee institutions in China. It also welcomes intermediate service providers relevant to the guarantee business. The Alliance pursues the principle of openness, independence and self-discipline.

China Guarantee Alliance is established on the basis of the Shanghai Agreement. It shall abide by the principles, regulations regarding rights and obligations stated in Shanghai Agreement and be dedicated to the development of China’s Credit Culture. China Guarantee Alliance shall promote extensive business co-operation and exchanges of all areas so as to facilitate mutual development.

China Guarantee Alliance shall promote international co-operation and communication; enhance the dissemination of professional knowledge and on-line information within the Alliance.

China Guaranty Forum, China Guaranty Net and China Guaranty Forum (the periodical) will be the communication platform for all members of the Alliance.

China Guarantee Alliance will refer to further discussions and set about the establishment of all the basic operating regulations.