Private Lending Capital Chain Suddenly Broke Into The Fatal Chain Of Corporate Bosses.

　　 Wenzhou The explosion of private lending has caused Premier Wen Jiabao's high concern and went to Wenzhou to ask why. It is understood that the five factors, such as tight money, single financing channels, diminished industrial profits, narrowing the investment field and gambling breeding, are interlocking into Wenzhou folk. To loan The craziness of the private lending bubble is even more disillusioned. Because of this, the sudden break of the chain of private lending has become the fatal chain of business owners.

　 Factor 1: monetary tightening aggravates financing pressure

Since October last year, the central bank has made 3 consecutive rounds. Increase interest With the help of several tightening measures such as raising the deposit reserve ratio and so on, aiming at restraining inflation and inflation, the financing of SMEs in Wenzhou has brought great pressure. It is even more difficult for enterprises to obtain loans from banks, especially small and medium-sized enterprises. Even if they can get loans, their financing costs are very high.

It is understood that the actual cost of loans for SMEs in Wenzhou is nearly 2 times that of the bank's benchmark interest rate. Because banks usually implement the policy of floating 30% to 50% of benchmark interest rates, plus deposit returns, buying related financial products, paying financial intermediation fees, and so on, the cost of loans naturally rises.

Factor two: less financing channels, but only by usury.

According to a sample survey of 350 enterprises by the Wenzhou Municipal Commission of credit, the proportion of the funds in the operation of the enterprises at the end of the first quarter of this year was 56:28:16, and the proportion of the three banks in their own funds, bank loans and private lending was 56:28:16. The bank loans decreased by 2 percentage points over the same period last year, 4 percentage points lower than the beginning of the year, while the proportion of private lending increased by 6 percentage points and 4 percentage points in the same period.

Meanwhile, according to a sample survey of 105 small and medium-sized enterprises in Ouhai District of Wenzhou, 90 of them have raised capital through private lending, and private lending has become one of the main sources of funds for SMEs in Wenzhou. However, the annual interest rate of private lending can reach as high as 180%, and the risk is very high. {page_break}

　　 Factor three: small profits in industry, not enough to repay interest.

With the increase of raw material prices, the rise of labor costs and the high cost of financing, small and medium-sized enterprises in the manufacturing sector are at a very low profit. According to statistics from relevant agencies, labor costs have risen by more than 30% since the beginning of this year, and inflation has brought strong momentum in raw material prices. As a result, the annual gross profit margin of most small and medium enterprises has not exceeded 10%, and now generally lingers between 3% and 5%. However, at present, the monthly interest rate of bank lending has exceeded 1 points, and the interest rate of private lending has also exceeded the highest historical value. The average monthly interest rate is 3 to 6 points, while the high interest rate reaches 1 cents and 5 cents.

　 Factor four: narrow investment in the field of investment and lending blindly

Due to the sluggish property market in the mainland, the areas of mining, coal, cotton and other fry are also in poor condition, so the private lending market has become the preferred substitute for Wenzhou's private capital following the property market. The statistics of the Wenzhou central sub branch of the people's Bank of China show that Wenzhou's private capital exceeds 600 billion yuan, and its annual growth rate is 14%. Among them, the capital involved in private lending is about 110 billion yuan, which accounts for about 20% of the city's bank loans.

From the source of private lending funds, it mainly comes from idle funds of private entrepreneurs and ordinary families, including funds for local production and living balances in Wenzhou, investment backflow funds from overseas Wenzhou people, and funds returned by overseas Chinese in Wenzhou. Preliminary estimates show that 30% of the funds from local enterprises and other economic entities account for 20% of the local residents, 20% from all over the country and around the world. Some of these funds may indirectly flow into the private lending market through personal loans from banks.

　 Factor five: boss gamble gives birth to liabilities and escapes

In the area of Jiangsu and Zhejiang, the gambling phenomenon of business owners is very common. In addition to gambling in recent years, such as business owners gathering frequently and going to Macao and other places, the Internet gambling in the mainland has recently emerged. According to sources, online gambling is more common in Wenzhou and in the outside world. It has created an intermediary for the livelihood of the society, and has led to the direct liabilities of the business owners. Finally, it has involved the private lending chain, and has become a catalyst for the breakup of the private lending chain.