Recently, Shandong Provincial Housing Urban and Rural Construction Department, the Provincial Development and Reform Commission, Shandong Insurance Regulatory Bureau, Qingdao Insurance Regulatory Bureau jointly issued "on the development of housing construction and municipal projects bid guarantee insurance work (trial)", clear housing construction and municipal project bidders can voluntarily choose the bid security deposit, insurance guarantee, bank guarantee in any form as a bid guarantee, no unit in the bidding activities for any reason to refuse or restrict the use.

       According to reports, the General Office of the State Council on the clean-up of the standard construction of the field of margin notice retained the bidding, performance, quality, migrant workers wages four types of security deposit. In 2017, Shandong Province's housing construction and municipal engineering areas of four types of margin payment of 35.482 billion yuan, in the form of bank guarantees to pay 4.258 billion yuan, the rest are cash guarantee, occupying a large amount of working capital of enterprises. On the basis of drawing on the advanced experience of Zhejiang, Anhui, Sichuan and other provinces, shandong Province's Housing and Urban-Rural Construction Department, in-depth study with the departments of development reform, insurance supervision and related insurance institutions, decided to implement bid guarantee insurance in the field of housing construction and municipal engineering, and then promote replication to other types such as performance, quality and wages of migrant workers.