04 March 2024
On 4 March 2024, the Ministry of Commerce issued the “Guiding Opinions on Promoting the High-Quality Development of the Catering Industry” (“the Opinions”). The Opinions aims to expand investment and financing channels, encourage financial institutions to improve their risk pricing capabilities and provide credit loans to catering businesses. The Opinions also emphasized the role of trademark pledge and encourages financial institutions to expand intellectual property pledge financing. In addition, the Opinions encouraged industry associations and organizations to leverage the role in organizing and establishing a communication and cooperation mechanism between banks and enterprises in order to facilitate the financing activities for catering businesses. Meanwhile, the Opinions also supports eligible catering enterprises to go public and issue credit bonds domestically and internationally, utilizing multi-level capital markets for financing.