, February 6th. The National Development and Reform Commission and other departments announced on the 6th the notice on improving the bidding transaction guarantee system to further reduce the bidding transaction costs.

  Among them, it is proposed to

encourage the reduction or exemption of bid deposits for government investment projects


Before the end of March 2023, the leading departments of provincial-level bidding guidance and coordination work should work with relevant administrative supervision departments to formulate and introduce policies to encourage bidders of government-invested projects in the region to stop collecting bid deposits in a comprehensive or phased manner, or to reduce or exempt bid deposits by category Measures, and improve the supporting mechanism to protect the legitimate rights and interests of tenderers.

  In addition, the document also proposes to encourage differentiated bid bond payment.

For projects other than government-invested projects that require bidding according to law and projects that do not require bidding according to law, all localities shall formulate corresponding policies to encourage bidders to specify in the bidding documents the measures for reducing or exempting the bid bond according to the characteristics of the project and the integrity of the bidders.

Encourage bid inviters to give preferential treatment to small, medium and micro enterprises with no record of dishonesty or bidders with good credit records, reducing or exempting bid deposits


State-owned enterprises and public institutions are encouraged to formulate relevant measures for reducing and exempting bidding deposits by category.

Enterprises and public institutions that implement a centralized bidding procurement system can explore and try to implement a centralized transaction guarantee mechanism corresponding to the scope of centralized bidding procurement to avoid bidders repeatedly providing bid deposits.

(China New Finance and Economics)