Legal basis: Article 683 of the Civil Law of People's Republic of China (PRC), an organ as a legal person may not act as a guarantor, unless it is approved by the State Council to use loans from foreign governments or international economic organizations for lending.
A legal person not for profit or an unincorporated organization for public welfare may not act as a guarantor.
Article 684 of the Civil Code of People's Republic of China (PRC) generally includes the type and amount of the principal creditor's rights to be secured, the time limit for the debtor to perform the debt, the way, scope and period of the guarantee, etc.