Zhao Linzhong: Short Term Tax Cuts To Ease Financial Pressure On Smes

Moreover, the approval procedures for SME loans are relatively complex. Loan period Auditing the financial situation of small and medium-sized enterprises takes a lot of time. Many small and medium-sized enterprises are not standardized in their financial affairs, and their operating income is not accounted for by companies. Under the background of tight credit, various commercial banks are facing small and medium-sized enterprises. lending rate The interest rates of commercial banks are different now, and the floating range is basically between 20%-50%.

According to statistics, 80% of SMEs in China are short of funds, and 30% of SMEs are very nervous. Most SMEs are through self financing, private lending and underground. financing Ways to raise funds.

According to a research report on the current situation of the operation of small and medium-sized enterprises by the joint development group of the National Development Research Institute, it is shown that there is a half break production rate below 50% in the Jiangsu, Zhejiang and Zhejiang provinces. The proportion of half break production in 16%-17% is up and down, while the proportion of half break production or break production in the market is 22%, 21% and 20% respectively. One of the main reasons is the shortage of funds.

In view of the current austerity, SMEs are generally experiencing difficulties in loans and increasing operating pressure. Zhao Linzhong, chairman of the board of directors of Fu run holdings group and chairman of the company, recently expressed their views. {page_break}

　 Private lending is active. Secret worry

Zhao Linzhong said that many enterprises now feel that "loans can not be done, no loans can not be done", and want to repay loans. Substantial increase in the financing cost of the real economy has led to increasingly active private lending. High and high risk private lending lurks social worries.

The investigation report released by the joint development group of the National Development Research Institute also shows that many large and medium enterprises that can not get loans from banks have also turned to private finance market financing, which has increased demand and pushed up the interest rate of private lending, resulting in an increase in financing costs for small businesses. At present, the rate of private lending is mostly 2 to 3 monthly interest points (24% to 36% per annum), while the higher rate is 4 to 5 points (48% to 60% per annum). Such a high interest rate, squeezing profits from small businesses may eventually lead to bankruptcy of small businesses, which will disrupt the normal financing and healthy development of small businesses.

And the tension of funds is also superimposed with other factors, which makes the operation of SMEs more optimistic.

Zhao Linzhong pointed out that, on the other hand, prices of raw materials continue to rise or run at high prices, and the price of products is difficult to raise; labor costs rise and recruitment difficulties are prominent; the difficulty of labor intensive enterprises is further increased; the implementation of power restriction, environmental protection and other policies, the RMB exchange rate has been innovating repeatedly, and the risk aversion of export-oriented enterprises has been comprehensively affected by various factors, which has made the enterprises worse.

The cost of financing has risen sharply, and the real economy has made difficult profits, and the desire of enterprises to achieve transformation and upgrading through the above projects is more urgent. He is very worried about this: "the contradiction between the demand and supply of funds is increasingly intensified, which will jeopardize the safety of credit funds and affect the steady development of the economy."
 

　　 Grassroots banks compete with enterprises for profits

Zhao Linzhong also pointed out that there are some "chaos" in some grass-roots banks.

He analyzed them from two aspects: loan and deposit. He pointed out that, on the one hand, under the joint action of continuously raising the deposit reserve ratio and the dynamic management of the deposit reserve provision, the credit scale of commercial banks was unprecedentedly tense, and the scale of command credit control was set up on a monthly basis, which was closely linked with the deposit and loan. "Some banks even appear at the beginning of the month to lend money, to borrow money in the middle of the month, and to collect loans at the end of the month, which has a negative effect on the authenticity of the financial data or the validity of the statistics."

At the same time, the access threshold for credit has been greatly improved and the management after loan has been unprecedentedly strict. Various banks have raised the requirements of the borrowers' internal credit rating and guarantee conditions, resulting in increased financing difficulties for enterprises, especially small and medium-sized enterprises. Loan approval time has been greatly extended, credit approval and approval rates have declined, and demand for large loans has been overloaded.

On the other hand, as the malpractices of the assessment system of commercial banks are aggravated, in order to maintain higher performance growth, banks have issued assessment tasks at all levels, especially for the assessment of deposits and intermediary businesses. The phenomenon of creating deposits at the end of the month and the end of the month has increased.

Zhao Linzhong said, according to the enterprise, because of the imbalance between the supply and demand of funds, commercial banks are now substantially raising the interest rate and the proportion of returns. Compared with the same period last year, the rate of the comprehensive financing of one-year loans generally reached 12.3%, even higher than 15%, except the benchmark interest rate increased by 1 percentage points, the interest rate plus the return on deposit and the demand for deposit return. For this phenomenon, Zhao Linzhong believes that enterprises can only accept passively to obtain funds.

The above behavior of vice admiral Zhao Lin is called "competing with enterprises". {page_break}

Its performance is a large floating interest rate. The interest rate of commercial banks is generally increased by 10%-20% on the original basis, and the floating rate of SMEs is higher than 40%-50%. The two is to increase the rate of return on deposits of enterprises. In order to maintain a high growth rate, all banks raise the deposit increment by raising the rate of return. "Some enterprises say that they have to spend money on loans for smooth loan transfer, and the three is the difficulty in turning over loans. Most commercial banks come up to a new scale on a monthly basis and have fewer indicators, which results in an obvious extension of the loan time. Many enterprises borrow money for private lending, lending time is long, it is necessary to pay more private high interest rates, increase the cost of loan.

In fact, some experts have pointed out that the main reason that restricts the financing difficulties of SMEs is the lack of multi-level credit supply system to serve different enterprises including SMEs. At present, in the financial system of our country, the banking industry occupies more than 80% of the total amount of financing in the financial market. The financial system, which takes the big banks as the main body, promotes the banks to "support the big and small businesses" for the enterprises, and the loans are basically concentrated on the large enterprises.

In the short term, we can reduce the cost of tax hedging. In view of the above phenomenon, Zhao Linzhong suggested that, first of all, various policies should be used together instead of being used alone. For example, we can give short-term tax relief policies to enterprises affected by rising raw materials in terms of fiscal policy, so as to directly help enterprises cope with the pressure of rising costs.

Second, we should correctly handle the relationship between monetary policy and economic development. Through the adjustment and optimization of credit structure, we will support economic structural adjustment and transformation of development mode. We should increase our support for key areas of economic development and people's livelihood industries. We should give full consideration to the financing difficulties of small and medium-sized enterprises and meet the reasonable financial needs of SMEs.

Third, it is suggested that China's commercial banks should timely adjust and improve the performance appraisal mechanism for grass-roots banks according to the changes in the state's macro financial situation. While considering self interest demands and risk control, we should actively advocate the cooperation between banks and enterprises in order to promote the healthy development of the banking industry and serve the real economy better.

　 The formation of multiple financing system is fundamental.

In fact, in view of the difficulty of small and medium-sized textile and garment enterprises' loans, many new ideas have emerged in many places. For example, many local associations and professional markets actively cooperate with the financial sector to provide loans for local SMEs. For example, the cooperation between Jiuzhou Textile City and Minsheng Bank, the South China Sea World Textile City and the Nanhai city credit cooperative will facilitate the financing of small and medium-sized enterprises.

It is understood that the Nanhai city credit cooperatives credit to the South China Sea World Textile City 300 million yuan loan amount. The loan companies, the bank staff to participate in the audit, the South China Sea World Textile City to provide security. Dozens of households have applied for loans, the amount of which is 500 thousand yuan -200 yuan. In addition, in recent years, the Datang socks industry has also worked with Minsheng Bank to provide small and micro loans for the more than 100 hosiery enterprises of the association, with a guarantee amount of 3 million yuan -600 million yuan.

However, how to fundamentally solve the financing problems of SMEs needs systematic consideration and various efforts.

Some experts suggest that in order to completely reverse the financing difficulties of SMEs, it is suggested that the state set up a multi-level credit supply market consisting of large and medium-sized banks and small loan companies, financial leasing companies, pawnshops, rural cooperative banks, rural credit cooperatives and other enterprises, individuals and so on as soon as possible, so as to increase the number of small and medium-sized credit providers, and form a market structure that specialized enterprises are willing to carry out financial services according to the characteristics of small and medium-sized enterprises through market competition. First, policies and measures should be introduced to encourage existing banks to lend to SMEs. Two, we should effectively relax the entry threshold, encourage private capital to participate in the stock market, or set up various forms of small and medium-sized financial institutions. Three, we should allow eligible enterprises and individuals to engage in loan business.