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2020

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Legal Shengbang Dynamics | Our firm has signed a strategic cooperation agreement with the Guangdong Provincial Association of Small Loan Companies

On the afternoon of October 15, 2020, Mr. Xu Bei, Executive Deputy Secretary General of Guangdong Small Loan Companies Association (hereinafter referred to as "Guangdong Small Loan Association"), visited our firm and was warmly received by Lawyer Qin Jianlong, Director Wu Xiang and Senior Partner of Guangdong Legal Shengbang Law Firm (hereinafter referred to as "our firm").


On the afternoon of October 15, 2020, Mr. Xu Bei, Executive Deputy Secretary General of Guangdong Small Loan Companies Association (hereinafter referred to as "Guangdong Small Loan Association"), visited our firm and was warmly received by Lawyer Qin Jianlong, Director Wu Xiang and Senior Partner of Guangdong Legal Shengbang Law Firm (hereinafter referred to as "our firm"). The Guangdong Small Loan Association has signed a "Strategic Cooperation and Legal Advisor Service Agreement" with our institute, where both parties carry out comprehensive strategic cooperation in financial practice, legal practice, policy, theoretical research, and other aspects, jointly promoting the standardized development of the small loan company industry in Guangdong Province and improving the theoretical research level in the field of small loans.

 

 

At the beginning of the meeting, Deputy Secretary General Xu gave a detailed introduction to the current development status of the small loan industry in China and Guangdong Province, and interpreted the latest industry regulations and policies. The Guangdong Provincial Association of Small Loan Companies is a non-profit social organization voluntarily initiated and established by small loan companies and relevant economic organizations in the small loan industry in Guangdong Province. It was approved and registered by the Guangdong Provincial Department of Civil Affairs and was officially established on January 17, 2012. The association accepts the supervision, management, and business guidance of the Guangdong Provincial Department of Civil Affairs and the Guangdong Provincial Local Financial Supervision and Administration Bureau, the business supervisory unit. With the service purpose of "self-discipline, mutual assistance, and standardized development", it adheres to the Constitution, laws, regulations, and national policies, and adheres to social ethics and customs. It was awarded the 2017 Guangdong Provincial 4A Level Social Organization title.

 

 

As of August 2020, the association has 253 member units and 1 expert committee, covering 21 prefecture level cities in the province. As of August 2020, there were 389 small loan companies in the province (excluding Shenzhen), with a registered capital of about 50 billion yuan and a balance of nearly 100 billion yuan in existing loans. This has provided high-quality financing services for the development of small and medium-sized enterprises in Guangdong Province and effectively promoted the economic development of Guangdong Province. In the past 9 years since its establishment, the association has organized multiple training courses on industry supervision and risk control management, and led member units to visit excellent small loan enterprises and industry associations across the country to learn advanced experience from various regions. It has fully utilized its functions of self-discipline, rights protection, coordination, communication, publicity, service, and entrusted supervision, guided all members to regulate their operations, optimized the industry business environment, protected the legitimate rights and interests of members, and improved the overall image of the industry, Promote the healthy development of the industry.

 

 

Director Wu Xiang gave a detailed introduction to the basic situation of the law firm to Deputy Secretary General Xu: Guangdong Legal Shengbang Lawyers' Affairs is one of the earliest legal practice institutions in Guangdong, with branches in multiple cities such as Shenzhen, Dongguan, and Jiangmen. The headquarters has nearly 600 practicing lawyers, interns, and staff, making it one of the law firms with strong comprehensive strength in South China. Law firms have been promoting professional and standardized development, encouraging and guiding lawyers to delve deeper into specific fields.

 

Qin Jianlong's lawyer team has strong theoretical research level and practical experience in the field of private finance, and will represent our institute to provide professional legal services to the Guangdong Provincial Association of Small Loan Companies. The signing of a strategic cooperation agreement between the two parties will effectively promote the standardized development of the small loan company industry in our province and also enhance the professional development of our institute, "said Director Wu Xiang.

 

 

At this grand event, our firm held a training session titled "Interpretation of the 2020 New Regulations on Private Lending - Exploring How Lawyers Expand Private Financial Legal Business under the New Regulations", led by Lawyer Qin Jianlong, Senior Partner of our firm. Lawyer Qin analyzed the development and supervision of private lending from various aspects such as the development history and current situation of small loan companies, the forms of private finance, and regulatory trends. He also combined the "Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases (2020)" (hereinafter referred to as the "New Regulations on Private Lending"), "Measures for the Prohibition of Illegal Financial Institutions and Illegal Financial Business Activities" Several regulations, including the "Notice on Regulating Private Lending Behavior and Maintaining Economic and Financial Order", the "Minutes of the National Court Civil and Commercial Trial Work Conference", and the "Opinions on Several Issues Concerning Handling Criminal Cases of Illegal Lending", provide a detailed interpretation of whether small loan companies apply the new regulations on private lending, the retroactivity of the new regulations, and the effectiveness of private lending contracts There are ten difficult issues related to the intersection of criminal and civil issues in private lending, as well as special guarantees in private lending.

 

 

Finally, Lawyer Qin Jianlong vividly shared his personal experience and practical insights with the attendees from three aspects: the scope of private finance business, the lawyer's field of private finance business, and how to expand his business, and cited rich cases.

 

 

At the grand expert recruitment ceremony, Deputy Secretary General Xu Bei issued an appointment letter to Lawyer Qin Jianlong, and the Guangdong Small Loan Company Association officially hired Lawyer Qin Jianlong as a member of the Third Council Expert Committee.

 

Deputy Secretary General Xu Bei stated that the appointment of him as an expert consultant is highly anticipated within the Small Loan Association, and we look forward to better communication, progress, and win-win cooperation between the two sides in the future.