The Textile And Garment Industry Is No Longer "Bad Money".

The first two days, reporters read from mobile phone newspaper that such a message: small and medium-sized enterprises because of the increasingly difficult financing, many owners only take property to pawn shop mortgage loans, so in recent years, Beijing pawn shops mortgage business surge. Not only businesses, but even ordinary people can feel that the threshold for bank loans is getting higher and higher. The way to buy a loan is now closed. It is said that even Wenzhou's private credit, which has always been "not bad money", has also seen tight funds. Then, how will the textile and garment industry closely related to people's livelihood experience some warmth?

The more invisible hand is, the tighter it becomes.

In fact, since last October, in order to suppress Inflation The government has begun to tighten monetary policy. So far, the benchmark interest rate has been raised 4 times and the reserve ratio of banks has been raised for the 7 time. Entering the May, the central bank's new round of raising the deposit reserve ratio is also expected by all sectors of society, because the recent foreign exchange capital is still in large-scale inflow. As for monetary instruments, in May 3rd, the central bank issued the implementation report of China's monetary policy in the first quarter of 2011, once again emphasized the view of central bank governor Zhou Xiaochuan that there is no absolute upper limit for the reserve instruments. At the same time, some financial circles analysis, the two quarter of this year may also face a rate hike.

There is no doubt that inflation expectations will not be eliminated for a day. currency Policy will not be loose. In the view of analysts, the so-called "austerity" is different in different levels. Some economists believe that the current tightening policy is actually achieved through credit rationing. Large banks and state departments do not lack funds, while the private sector which represents more efficient private sector is stretched to the limit. The financing capacity of small and medium-sized enterprises is largely squeezed out. Prior to that, Li Xunlei, chief economist of Guotai Junan Securities, estimated that the 9 increase was made. deposit The tightening rate of the reserve ratio is equal to 3 percentage points of the loan interest rate at least, and the credit of the small and medium banks is at least 30% up to the benchmark interest rate.

Business is not bad money.

If the textile and garment industry, especially the knitting industry, is judged according to the overall characteristics of the above economic areas, the business experience is undoubtedly the most tragic. Because most of the textile industry is private enterprises, the vast majority of private enterprises are small and medium-sized enterprises. However, in the interview with reporters, there is no heavy tragic atmosphere.

Knitting enterprises in Guangdong are more concentrated and one of the most active areas of industrial development. According to a senior member of the local industry association, the tight monetary policy of the central bank has limited impact on local enterprises. "Most of these enterprises in Guangdong rely on their own accumulated funds to develop, and generally do not lend to banks." This person said that this aspect has evaded the risks brought about by the adjustment of the banking policy, and there is no pressure to make profits, but on the other hand, it has also restricted the development of the enterprises. According to statistics of a SME Financing Conference held by the Guangdong Commission on credit in 2010, less than 20% of Guangdong textile and garment enterprises above Designated Size have bank loans.

Guangdong bosses do not like to use bank loans. In the eyes of the industry, there are 4 main factors. First of all, it is a difficult loan. "Enterprises that need money are generally more risky and are often hard to get through financial institutions." A business owner said. In addition, the Guangdong financial system has listed the textile and garment industry as a high risk industry. "Garment factories are especially unpopular, with simple equipment, few fixed assets, low profit margins and low solvency, so it is difficult to get loans from banks." The head of the company complained. The second factor is the textile industry, especially the clothing industry. Most enterprises are short term loans even if they are loans. The bank procedures are cumbersome and they can not keep pace with them. Third, businesses that have managed to thrive are basically not bad money. This has earned them credibility in the market, and suppliers have voluntarily extended the settlement cycle, which is even greater than the role of bank loans. Finally, in recent years, there are not many new enterprises in Guangdong's textile industry. Even the newly added enterprises have strong financial strength, and enterprises that have been operating continuously have accumulated relatively strong funds. "Guangdong textile and garment enterprises with a history of about 10 years have basically completed the primitive accumulation of capital." Guangdong textile industry association senior personage said.

Thus, there are two kinds of situations: enterprises with weak management are short of money, but can not afford loans, so they have to earn their own living. The well managed enterprises are favored by banks, and enterprises themselves do not need loans. Over the past 10 years, it has been undenying the investment in denim, making money in other fields, making money and upgrading its equipment, earning enough profits to expand its own profits, so it refused the bank's olive branch. Secondly, as the representative of the new enterprises, Wanlima group has made enough money in the leather industry and expanded its market resources. After joining the textile industry, it is basically not bad money; third, a underwear enterprise with a certain reputation in the industry, in 2007, it was said that there were hundreds of millions of yuan loans. In 2009 and 2009, because of the bank's withdrawal of loans, it affected the capital chain, and now it is difficult. But this part of the loan is not used for the development of the main business, but is used for the operation of health products and real estate. In the interview, reporters learned 3 cases: first, Guangdong Dasheng denim Weaving Co., Ltd.

Although all these materials are from Guangdong, journalists think to a certain extent is a microcosm of the national situation.

Who is under pressure?

In the eyes of professionals, if we concentrate on the main business, rather than on other industries, the enterprises themselves will earn enough money to transform themselves and upgrade their equipment. Therefore, whether in Guangdong, Fujian or in Henan, reporters can often hear such pride in their interviews with enterprises: "we basically do not have loans, all rely on their own funds in development." This can be regarded as the tradition of the industry, and can also be regarded as a steady business of an entrepreneur.

However, last year's raw materials, yarn and warp knitting industry made many enterprises uneasy. As early as the end of February this year, the director of a warp knitting garment enterprise told reporters that because of the good performance of the industry last year, many warp knitting enterprises were prepared to expand their scale and more equipment. Of course, loans were necessary to purchase equipment. This year, banks tightened their money and had to give up loans, and these enterprises had to give up their performance. "This has caused damage to equipment manufacturers or warp knitting enterprises. Of course, equipment manufacturers can resell equipment to others, but warp knitting enterprises have lost a lot of money, factories have been built, and various preparations for expansion have been made. Now the project has to be stranded."

Of course, if there is a direct impact on the tightening of monetary policy, there is also an indirect one. For example, restricting the real estate will affect the consumption of home textiles and decoration products. In addition, for upstream industries, such as spinning, weaving, dyeing and printing enterprises, because of the higher cost of equipment investment, they rely more on bank loans. Therefore, since last year, the central bank has repeatedly increased, making many enterprises feel pressure.