Industry Hollowing Out &Nbsp; Wenzhou Billions Of Capital Is Like A Cage Animal.

The author recently went to Wenzhou to investigate and understand that when Wenzhou small and medium enterprises felt "bad money", Wenzhou's private capital was withdrawn from the field for various reasons, showing the anxiety of "rich and no place to spend". Wenzhou development and Reform Commission policy research personages said that this kind of contradiction is because at present the Wenzhou industry foundation is weak, the factor support insufficiency creates. The phenomenon of "going to the manufacturing industry" and "industry hollowing out" is more serious, which has caused great trouble to the industrial upgrading of Wenzhou in 12th Five-Year. At the same time, plenty of private floating capital seems to be confused and restless. How to form a positive interaction between enterprises and private capital is worthy of in-depth study by the Wenzhou municipal government.

Constraints on development factors, lack of confidence in multi industry investment

Although Wenzhou is one of the most active areas of private economy in China, after many years of development, the industrial base has always been characterized by "low end, scattered and weak", and has lost its original competitive advantage. In response, the Wenzhou development and Reform Commission policy research personage accepted the author's interview to be worried.

For many labor-intensive enterprises with low technology content in Wenzhou, labor shortage is the main factor that restricts its development. According to a commissioned worker, a large clothing factory in Wenzhou had to recruit 1000 workers earlier this year. Although the wages provided were not low, only 100 people were recruited at the end. Coincidentally, another jeans factory originally planned to recruit 400 workers, and finally recruited 100 people. In the case of order saturation, production capacity is seriously insufficient. This person believes that at present, many enterprises in Wenzhou stop half stoppage of the real reason is. Labor shortage Rather than market demand.

After the exchange rate reform, the appreciation of RMB has entered an accelerated channel, which has become another major problem for export oriented enterprises. Wenzhou economic and Trade Commission monitoring showed that in the first 3 months of this year, the sales value of 35 export oriented enterprises such as glasses, lighters, pens, locks and so on decreased by 7% compared with the same period last year, and the profit dropped by 30% over the same period last year. At the same time, the order amount of these enterprises is decreasing, and the average amount of single orders is 16.7% lower than that of the same period last year. These enterprises accounted for more than 1/4 of the loss, and only 30% of the enterprises' profits continued to grow. The average profit margin of the industry is 3.1%, and the profit margins exceed 5% of the enterprises are less than 10.

In addition, foreign trade enterprises accounted for 4 of the total number of enterprises in Wenzhou. With the increase in the number of "anti-dumping" and "special safeguard" cases in recent years, trade barriers have also increased significantly. Under such a severe situation, the willingness of Wenzhou entrepreneurs to do business has been getting lower and lower.

Since 2003, entrepreneurs in Wenzhou have had a serious lack of confidence in the expansion of the real economy. More industry will be used as a financing platform and borrow private lending to participate in the speculation of resource commodities and real estate. Many bosses have doubled their capital in their hands, while the companies in their hands still maintain their scale many years ago, forming the so-called "industrial hollowing out". {page_break}

　 Limited resources, local industrial environment is not ideal.

Wenzhou development and Reform Commission sources said that in addition to the lack of confidence in the owners themselves, Wenzhou's industrial development environment is not ideal is the cause of the current "hollow industry" key factors. First of all, Wenzhou has less industrial land and a gap of 40 thousand mu. Secondly, the cost is higher. Taking the land of the Industrial Development Zone as an example, the current government auction price is 650 thousand yuan / mu, although the price is not low, there are still a large number of enterprises can not get the land, and after the market speculation, it can reach 2 million 400 thousand yuan / mu. So the operators pay more attention to the speculation rather than the factory building. And companies that continue to do business are also there. financial crisis During the period of relocation, the proportion reached 12% at that time.

In addition, although Wenzhou has entered the national strategic plan of the Yangtze River Delta regional planning and the West Coast Economic Zone Development Plan in recent years, but in the view of Wenzhou's economic researchers, Wenzhou is only in the radiation zone of the relevant planning, and the resources available are limited, so it is difficult to really play the role of promoting the large-scale industrial upgrading of Wenzhou. Wenzhou is also doing some work in an attempt to build a bridge between emerging industrial projects and Wenzhou capital, hoping that Wenzhou capital can serve the adjustment of local industrial structure and economic transformation.

Private capital is complex and lacks investment direction.

Despite the poor industrial development, the strength of Wenzhou's private capital is very strong due to its earlier accumulation and years of operation. From the relevant departments and trade associations in Wenzhou, I learned that last year, the relationship between Wenzhou and banks was more than 530 billion yuan, the scale of private lending was over 100 billion yuan, and the profits of the financial industry from Wenzhou were as high as 12 billion 800 million yuan. At present, the scale of private capital in Wenzhou is between 6000 and 800 billion yuan. With the integration of resource commodities and the increase in the regulation and control of the property market, private capital has returned to Wenzhou recently.

It is understood that the form of private capital in Wenzhou is complex. Some of them concentrate on the real estate and fry resources, while others enter social financing and private equity funds. According to statistics, there are about more than 400 investment guarantee institutions in Wenzhou and thousands of private lending institutions. Because the State adopts Monetary tightening Policy, small and medium-sized enterprises have to finance through private lending. Private interest rates have improved substantially in recent months. Besides Lishui, Wenzhou is already the highest rate of private lending in Zhejiang province.

There are large financial risks in private lending. There are not only related transactions among enterprises, illegal borrowing and lending, arbitrarily increasing interest rates and so on. The most important thing is that excessive interest may eventually lead to the chain breaking of funds by borrowing enterprises, thus implying more enterprises and individuals. For the private lending industry, the risk is also increasing due to the low profit margins of SMEs in the long run. For a long time, banks in Wenzhou have kept a good record of risk control. It is precisely because the active private lending market has taken some risks for banks. However, once it gets out of control, its harm can not be underestimated.

"Moreover, it is impossible for all private capital to engage in social lending." People who know about Wenzhou's economy say that there is a large number of Wenzhou private capital, which is full of devaluation and anxiety because of lack of investment direction.