Small And Medium Sized Footwear Enterprises Strained Gold Chain To Find New Financing Ways

With the increase of production and operation costs, private enterprises in Jinjiang of Fujian have generally felt the pressure of funds this year. "Financing difficulty" has become a common problem reflected by many small and medium-sized enterprises.

At present, local governments, banks and enterprises are cracking up the "bottleneck" of funds through the establishment of loan Guarantee Corporation and the innovation of financial products.

Small and medium enterprises' capital chain is tight

Since the beginning of this year, under the influence of multiple factors such as the rising cost of energy and raw materials, labor costs, the continued appreciation of the RMB and tighter monetary policy, the "capital chain" of SMEs has faced unprecedented challenges.

Wang Zhiyong, the head of Jinjiang footwear industry association, said that only a factor of exchange rate fluctuation has increased the financial cost of enterprises by 6 percentage points since the beginning of this year.

"Now banks are reluctant to lend money to SMEs. Last year, my company's liquid capital loans were 3 million yuan. After the loan was repaid at the beginning of this year, banks would not lend, and the capital chain would be tighter and tighter."

He said, "all kinds of costs are still rising. If the bank gives a buffer period, it will lend me 2 million yuan this year, even if it is 1 million yuan, and the company can take a breath."

Zhuang Yuejin, deputy director of the Jinjiang Municipal Bureau of Commerce, said that the tight monetary policy this year has reduced the sources of corporate credit funds, and some SMEs have been greatly affected by the loss of bank credit support.

According to the statistics of Jinjiang sub branch of the people's Bank of China, the balance of RMB loans of Jinjiang financial institutions was 26 billion 790 million yuan at the end of May, 270 million yuan more than the beginning of the year, and 2 billion 680 million yuan less than that of the same period last year.

Against the backdrop of monetary tightening, the way of bank credit gradually declined from inter enterprise guarantee to physical mortgage loan, and the credit line was further lowered, coupled with the pressure of domestic and international economic situation, and the speed of capital flow between enterprises slowed down.

Ding Youyi, chairman of Jinjiang WorldCom Footwear Co., Ltd., said: "the upstream enterprises have increased payment conditions, and businesses are afraid to credit. All of them require cash payment, and most of them need to be put in place within one or two months, which further aggravates the pressure of liquidity."

On the other hand, enterprises generally reflect that at present, banks do not have special loans for scientific and technological progress and technological upgrading. The majority of small and medium-sized enterprises are under the pressure of pformation. Without credit support, it is difficult to achieve "pformation" on their own strength alone.

The major local financial institutions also said that at present, there is no special quota for "science and technology loans" in the national policy, and banks are unable to operate.

Efforts to crack down on capital bottlenecks

In view of the current macroeconomic situation, local governments, banks and enterprises are actively exploring effective ways to ease the pressure on corporate finance.

In recent years, Jinjiang has made great efforts to promote the listing of enterprises and develop financing channels by landing at home and abroad.

Up to now, there are 10 domestic and foreign listed companies in Jinjiang, with a total capital raising of 6 billion 760 million yuan and a total market value of 70 billion 690 million yuan in the stock market.

In addition, 49 listed companies in the city have submitted two application materials, two have entered the guidance period, 12 have signed a cooperation agreement with the intermediaries, and 19 have started the initial stage of restructuring.

At present, the listed companies such as Anta, seven wolves, plum blossom umbrella and so on are extending a number of small and medium-sized enterprises into industrial clusters by extending the industrial chain, so as to achieve win-win development.

In June 20th of this year, under the guidance and encouragement of the Jinjiang municipal government, the company was launched by seven wolf Investment Limited. The Jinjiang municipal investment company, as the largest shareholder, and the first local small and medium enterprise Credit Guarantee Corporation founded by many companies, was formally established in Jinjiang.

The registered capital of the company is 99 million 990 thousand yuan. Since its establishment, it has signed a framework agreement on Banking and insurance cooperation with a number of financial institutions such as Jinjiang Agricultural Bank, Bank of China, China Construction Bank, Quanzhou commercial bank and so on. The three businesses of Hollywood, Xinchang and Himalaya have become the first batch of guaranteed enterprises.

The most worrying thing about bank lending is that it can not be returned. With the Guarantee corporation with strong financial strength, bank lending is naturally more reassuring.

The head of a Company limited by guarantee cooperative bank in Jinjiang said that bank insurance cooperation lowered the entry threshold for SME loans and promoted a win-win situation for all banks. The bank itself increased the amount of settlement and the return rate of funds and improved its performance.

Actively promoting financial product innovation

Jinjiang financial institutions, while speeding up the promotion of "green credit" and strict credit market access, actively innovating financial products, and guiding enterprises to use financial instruments such as bank acceptance bills, bills discounting, domestic factoring, payment and financing, and so on, to solve the financial pressure.

In the second quarter of this year, in compliance with the state's macroeconomic regulation and control policy, the short-term liquidity loan of Jinjiang branch of ICBC was significantly reduced, and private small business loans increased by nearly 150 million yuan.

In order to alleviate the impact of short-term liquidity loan reduction, ICBC customers, such as Jin Ba and Qipai, have made extensive use of bank acceptance bills to settle accounts.

By the end of 6, the Jinjiang branch of ICBC has opened up more than 570 million yuan of bank acceptance bills, more than 210 million yuan over the same period last year, and 22 million 500 thousand yuan was discounted for bills.

According to the Jinjiang branch of Bank of China, due to the continued depreciation of the US dollar, the financial cost of foreign trade enterprises has increased by 6% this year. "By using our forward settlement business, we can at least recover 3 to 4 percentage points of the exchange rate losses for our customers."

Wang Qunfeng, vice president of the Jinjiang branch of the Construction Bank, said that on the one hand, a large number of funds raised by listed companies were on the one hand, and on the other hand, a large number of small and medium-sized enterprises faced with financing difficulties.

"Therefore, we have designed a series of financial management products for listed companies to help listed companies to use their money to pform their idle funds into a source of power to support SMEs.

Banks only charge service fees from them, so that they do not occupy the scale of bank credit, nor do they have the risk of bank lending.

Survey on the survival of private enterprises in Jinjiang: the employment situation is becoming increasingly severe.

This year, Jinjiang, Fujian, which has about 900000 migrant workers, has a lot of job hopping, and many employees are reluctant to sign labor contracts.

Many enterprises believe that under the pressure of current domestic and international economic situation, the employment problem is an important factor hindering enterprises from resolving the rising cost of production and improving their ability to cope with risks.

By optimizing the employment environment, the Jinjiang municipal government and employment enterprises earnestly safeguard the legitimate rights and interests of workers and create a good system and cultural environment to alleviate the "labor shortage".

Jinjiang private enterprises survival survey: unprecedented difficulties forced pformation

Production costs are rising, exchange rate risk is increasing, trade is tight, financing is difficult and employment is hard.

Fujian Jinjiang enterprises, which are leading the development of private economy, are facing unprecedented difficulties.

"This is the worst season, this is the best year; this is the winter of despair; this is the spring of hope."

The scene depicted by Dickens in the book of Shuangcheng is applicable to today's Jinjiang enterprises. Under the severe pressure of multiple pressures, there are opportunities for upgrading industrial structure, optimizing structure and enhancing competitiveness.