Baker & McKenzie's corporate and commercial group in Hong Kong has acted for Shenzhen Credit Orienwise, China's largest privately owned credit guarantor, on the sale of a minority stake in the company to Asian Development Bank. Partner Elsa Chan led the firm's team on the deal. ADB paid US$10m for the minority stake, a move aimed at helping small and medium-sized enterprises access credit easily. This transaction will enable SMEs in China an alternative to commercial banks for their financing needs.