National Council for Social Security Fund, Tentative Measures for the Administration of Investment of the National Social Security Fund by Means of Trust Loans (2016 Revision)

(1) having net assets of not less than Rmb15 billion;

(2) the credit rating of a large enterprise serving as guarantor for an NSSF trust loan project not being lower than that of the debtor;

(3) the entire amount secured by one large enterprise not accounting for more than 50% of its net assets; and

(4) if the security is provided by the debtor's parent or de facto controller, the large enterprise's net assets not being less than 1.5 times those of the debtor (Article 9).

Related legislation: PRC Trust Law

Promulgated: September 20 2016

Effective: as of date of promulgation

Main contents: A trust company entrusted to manage trust assets of the National Social Security Fund (NSSF) shall have paid-in capital of not less than Rmb1.2 billion and audited net assets as at the end of the previous year of not less than Rmb3 billion (Article 7).

Large enterprises that provide security for NSSF trust loan projects shall satisfy the following conditions:

(1) having net assets of not less than Rmb15 billion;

(2) the credit rating of a large enterprise serving as guarantor for an NSSF trust loan project not being lower than that of the debtor;

(3) the entire amount secured by one large enterprise not accounting for more than 50% of its net assets; and

(4) if the security is provided by the debtor's parent or de facto controller, the large enterprise's net assets not being less than 1.5 times those of the debtor (Article 9).

Related legislation: PRC Trust Law