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The Ministry of Finance has issued a notice on the implementation of a special guarantee plan for private investment. It mentioned further reducing the guarantee fee. The central government will support the Rongdan Fund in reducing the re-guarantee fee and provide a fee reduction subsidy. The re-guarantee fee of the Rongdan Fund will be halved, and the reduction will be passed on to the direct guarantee institutions, effectively reducing the actual guarantee fee borne by private enterprises. The guarantee fee rate for direct guarantee institutions must not exceed 1%.