Wenzhou: Small And Medium Enterprises Failed To "Get Together" To Close Down

In May 20th, the CBRC investigation team arrived at a low key.

Behind it, due to tight credit, Wenzhou Jiangnan leather, Portman, three flag group 3 well-known enterprises chain problems, the boss fled or is on the verge of bankruptcy, will Wenzhou economy to the cusp.

The rumor that "Wenzhou's economy has made great achievements and tens of billions of usury has run away" is endless.

However, a joint report issued by the Zhejiang and Wenzhou banking regulatory bureaus of May issued by the reporters concluded that the current prudent monetary policy is right for.

The report also pointed out that, at the end of the first quarter of this year, the proportion of the three funds of Wenzhou's enterprises operating capital, bank loans and private lending was 56:28:16, and the proportion of private lending increased by 6 percentage points over the same period last year.

Some enterprises fail normal

"Wenzhou's economy has made great achievements, and tens of billions of usury have run away."

Recently, a post circulated on a website has aroused great concern.

Net stickers said that 7 owners fled this year and 70 fled indirectly in Wenzhou.

This

Similar rumors about Wenzhou's financing ecological crisis have gradually increased, and the government has attached great importance to it.

"The main content of this survey is about the impact of macroeconomic regulation and control on the real economy."

In May 23rd, the banking regulatory system told reporters that the area of the investigation was locked in Wenzhou.

However, official research reports believe that "facts" are much more optimistic.

A report jointly issued by the Zhejiang and Wenzhou two levels of Banking Supervision Bureau in May revealed that Zhejiang banking regulatory bureau and Wenzhou Banking Supervision Bureau attached great importance to the rapid development of the special investigation team and in-depth understanding of the specific circumstances.

The survey involved part of the economic and trade, industry and commerce, development and Reform Commission, banking supervision system, Wenzhou finance office and other departments.

The report shows that, according to the Wenzhou industrial and commercial system survey, the current steady monetary policy has produced certain pressure on enterprise financing, but it does not fundamentally affect the overall development pattern of Wenzhou enterprises as a whole, and there is no phenomenon of centralized collapse of enterprises.

Statistics from Wenzhou Administration for Industry and Commerce showed that at the end of the first quarter, the number of private enterprises in the city was 534, down 14.56% from the same period last year.

However, the total number of registered private enterprises in the city has reached a record high of 73 thousand and 200 yuan, with a registered capital of 206 billion 310 million 960 thousand yuan, an increase of 15.11% and 28.37% over the same period last year.

In the survey, the head of the relevant departments of the Wenzhou Municipal Development and Reform Commission also said that at present, some enterprises are less affected by macroeconomic regulation and control policies, and more often are caused by poor management.

And in the process of industrial pformation and upgrading, some enterprises are eliminated, which is a normal phenomenon.

"Some polluting enterprises such as leather and steelmaking that do not comply with environmental requirements must be closed according to regulations, and some industries must be eliminated because of excess capacity, and should not be simply interpreted as a precursor to Wenzhou's economic crisis."

According to the survey report.

According to the Wenzhou Municipal Economic and Trade Commission's survey of orders for 855 key monitoring enterprises in the end of March, there are more than 90% enterprises holding production orders, of which 23.9% of the handheld orders can be produced for more than three months, accounting for 69.2% of the production within two months.

"In fact, in recent years, Wenzhou's industrial economy has been increasing structural readjustment, and the pace of pformation and upgrading has accelerated noticeably."

Wenzhou officials believe.

The data to be corroborated is that in 2009, the industrial added value in the region was 116 billion 366 million yuan, an increase of 6.1% over the same period last year. But after entering 2010, the industrial economy of the whole city has been picking up more and more rapidly, and the annual industrial added value has reached 138 billion 931 million yuan, an increase of 12.7% over the same period last year, an increase over the previous year.

At the end of the first quarter of this year, Wenzhou's industrial economy showed strong rebound and became the main driving force for the city's economic growth. In the first quarter, the industrial added value was 28 billion 100 million yuan, an increase of 16.9% over the same period last year, and the growth rate increased by 20.4 percentage points compared with the same period last year, contributing 51.9% to the city's economic growth.

Increase of private lending ratio

The official report also believes that bank credit funds are still strongly supporting SMEs.

At the end of the first quarter, the balance of loans in Wenzhou was 579 billion 199 million yuan, an increase of 19.2% over the same period last year, an increase of 27 billion 531 million yuan compared with the beginning of the year, and the increment was only less than 2009, compared with the same period in 2010, ranking third in history.

At the same time, the banking institutions under the jurisdiction are based on the good financial ecological environment in Wenzhou, and strive for credit funds actively, and focus on limited credit funds to small businesses.

The report quoted the Wenzhou banking regulatory sub Bureau statistics, as at the end of 3, the balance of small business loans in the city was 137 billion 799 million yuan, accounting for 23.79% of total loans, 1.55 percentage points higher than the same period last year, an increase of 9 billion 700 million yuan over the beginning of the year, accounting for 35.23% of the city's loan increments, a 8.02 percentage point increase over the same period last year, an increase of 7.5% over the beginning of the year, and 2.6 percentage points higher than that of all loans.

In addition, combined with the characteristics of Wenzhou's economy, a large number of small business owners also obtained credit support through personal business loans.

According to the monitoring statistics of Wenzhou banking regulatory bureau, the following 5 million loans issued by the city's individual industrial and commercial households and individual business loans totaled 106 thousand and 500 yuan as of the end of 3, the balance was 117 billion 756 million yuan, an increase of 7 billion 426 million yuan compared with the beginning of the year, an increase of 6.7% over the beginning of the year, which was higher than that of the total loan growth rate by 1.8 percentage points.

"Private lending and bank capital have been rising in the direction of capital flows, and private lending has become more active after the tightening of the formal financial system."

However, the report acknowledges that private lending is becoming more active.

The results of a sample survey of 350 enterprises by the Wenzhou finance office showed that at the end of the first quarter of this year, the proportion of the three funds of self financing, bank loans and private lending was 56:28:16, and the proportion of bank loans decreased by 2 percentage points compared with the same period last year. The proportion of private lending increased by 6 percentage points over the same period last year.

Under the influence of the central bank's frequent increase in benchmark interest rates, the interest rate of private lending has indeed risen.

According to the monitoring data of Wenzhou Banking Supervision Bureau, the annual interest rates of private lending in Wenzhou reached 1-3, 17.29%, 18.09% and 18.46% respectively in June.

In addition, according to the monitoring caliber of the Wenzhou central sub branch of the people's Bank of China (increasing the financing intermediaries), the comprehensive annual interest rates of private lending in Wenzhou in 1-3 were 23.01%, 24.14% and 24.81% respectively, rising by 11.91% in the single quarter, 8 percentage points higher than the previous quarter.

"Annual interest rate of more than 4 points, or even more than a corner, are not the needs of normal production and operation, some are the needs of real estate enterprises to continue the capital chain, some are the needs of underground casinos to borrow gambling debts and so on."

Wenzhou financial regulatory authorities believe that.