Beijing Guohua Culture & Technology Financing Guarantee Co. Ltd., a subsidiary of Beijing State-owned Assets Management Co. Ltd., has provided over 90 million yuan (US$12.6 million) in financing guarantee to support 32 small and medium-sized cultural enterprises in Beijing this year.

As the first guarantee institution in China that focuses on the cultural and creative industry, the company provided financial support through its specialized guarantee products, with the aim of promoting Beijing's cultural industry.

Booyee Books, an online retailer of old and second-hand books in China which has been operating a physical store for over 20 years, is one of the enterprises that received financial support. After learning about its need to expand operations, Guohua Guarantee provided support through a working capital loan to help the bookstore to develop online sales channels, including creating a sales website and launching live-streaming activities.

Another receiver of financial support is Okhiwi Media, which co-produced the bilingual documentary "Panda Stories" with streaming platform Mango TV. The company received 1 million yuan of working capital loan for assisting the global outreach of the 20-episode documentary on the giant panda.

The specialized guarantee product of Guohua Guarantee can be applied for with just one click online, according to an executive of the company. The system utilizes big data, intelligent analysis, and other digital technologies to conduct automated assessments for projects under 5 million yuan, providing funds with efficiency and speed.

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