The document discusses the state of China's credit guarantee industry as of the end of 2008 and 2009. It notes that as of 2008 there were over 4,000 credit guarantee institutions in China with over RMB1.75 trillion guaranteed for SME loans. It estimates that by the end of 2009 there would be over 4,800 institutions with over RMB2.6 trillion guaranteed for more than 1.15 million enterprises. While the number and guarantee capital of institutions was increasing, the growth rate was slowing compared to previous years. The document examines factors supporting and hampering the industry's development.