DALIAN, China, July 3 /PRNewswire-Asia/ -- China YiBai United Guarantee International Holding Inc. (Pink Sheets: CBGH; hereafter referred to as "China YiBai") staged the 2009 Chinese SMEs Investment and Financing Summit On June 27, 2009 ("Summit"), which could help SMEs develop financing.
The summit was held in the Nikko hotel in Dalian, China and was overwhelmed by the unexpected high turnout. The original 200-seat meeting room was filled with more than 300 representatives from hundreds of small businesses. This highly anticipated one-day summit featured speakers from the Tianjin Equity Exchange, Deutsche Bourse Group, Barron Partners LP Chinese Division, Chinese Domestic Private Equity and Bank of Dalian, along with officials from Dalian Municipal Financial Office to discuss various aspects of small business equity capital investing and refinancing.
The city of Dalian has more than 100,000 SMEs, which contribute 40% of the Municipal tax revenue, and 57% of the City's GDP growth. In the aftermath of the global financial crisis, Dalian SMEs have to deal with the increasing difficulty of refinancing. From January to May this year, the Treasury department of Dalian allocated 1.1 billion Yuan to help the SMEs through the finance crisis. However, SMEs still need more capital injections not only from the government, but also financial markets. Equity market capital guarantees and refinancing have opened another channel for SMEs to acquire additional funds.
Adrian Han, Managing Director of China YiBai, said, "This summit has struck at the core of the refinancing difficulties faced by SMEs, enhanced the understanding of the Equity market for the SMEs, and enlightened the vision and strategic development of the SMEs going forward. Presently, five firms have been attracted by the Summit and willing to sign the contract for financing services with China YiBai."
About China YiBai United Guarantee International Holding Inc.
Dalian YiBai Small & Medium Enterprises Guarantee Co., Ltd., as the operational subsidiary of China YiBai, is the first financial company focusing on equity mortgage loan, an innovative kind of credit guarantee in northeastern China (including Liaoning province, Jilin province and Heilongjiang province) for Chinese SMEs. Meanwhile, China YiBai is also engaged in personal property management and merger and acquisition. Additionally, China YiBai also functions as financial consultant about Domestic or overseas listing. At the same time, Dalian YiBai has acquired the qualification as sponsor and market-maker from Tianjin Equity Exchange and is specializing in financing and investment services for "two-high" and "two-non" enterprises. For additional information, please visit http://www.yibaichina.com .