60 Billion Refinancing Or Stranding AOKANG Is Expected To Intervene In The Reorganization Of Xintai

Hu Fulin, the spectacle king of the United States, chose to "live in seclusion" after returning to Wenzhou.

In October 11th, Xintai group was located.

In the Wenzhou municipal government, the people's Bank of China and the banking regulatory bureau, the reorganization of Xintai has become a hot topic of discussion.

"There is no timetable for the specific arrangements for restructuring."

A head of the Wenzhou branch of a state-owned commercial bank, which has a contractual relationship with Xintai, told reporters that the relevant parties had contacted AOKANG group, a leading enterprise in Wenzhou.

According to a press survey, the Wenzhou branch of Bank of China is the largest creditor of Xintai group and has a loan amount of 200 million yuan in Xintai.

"Our loan is secured by Xintai plant, which is a priority in the disposal of claims."

The people concerned said.

The bank also borrowed money for five or six other "run" owners, but it is not clear whether the value of their collateral is sufficient.

Although there is no sign of production in Xintai's factory in Ouhai, a staff member of the company confidently told reporters that "Hu Fulin has returned, and Xintai will soon be able to return to work."

But for restructuring and resumption, a person in charge of Wenzhou bank is not optimistic. "At present, Xintai 2 billion will not be willing to enter the reorganization if there is no additional concession."

According to the source, the Bank of Wenzhou does not have many loans in Xintai.

The heads of the state-owned companies have different views on restructuring. "Xintai's assets in solar energy are still very high quality, and the orders for their glasses production are coming to next year."

He said that the Ouhai district government and the Federation of industry and commerce were responsible for taking the lead in doing the reorganization of Xintai, and are contacting some large enterprises in Wenzhou. "As far as I know, AOKANG shoe industry is currently in contact."

On the one hand, it actively mediates for the reorganization of Xintai group. On the other hand, the Wenzhou municipal government and the financial supervision department urgently mobilize all kinds of funds to help the high quality small and medium enterprises with loan crisis.

One of the hearsay is that the Wenzhou municipal government submitted to the Zhejiang provincial government "request for financial stability reloan". The provincial government came forward and applied to the people's Bank of China to apply for financial stability reloan of 60 billion yuan, with a term of 1 years, which is specifically used to support Wenzhou bank institutions to increase the financing scale for difficult enterprises.

But in another media, the news was reprimanded by Wenzhou municipal Banking Regulatory Bureau as "virtual."

In October 11th, the Wenzhou Banking Regulatory Bureau told reporters that the bureau had not denied the application for "60 billion yuan refinancing", but it had neither admitted nor denied it.

Moreover, applying for refinancing is not the responsibility of the CBRC. It should belong to the Central Bank of Wenzhou.

The press release will be released later to explain the matter.

A person familiar with the matter said that before Wen's visit to Wenzhou, two documents had been drawn up by relevant parties. One of them was to apply for 60 billion yuan refinancing to the people's Bank of China in order to maintain financial stability. The other is to increase the amount of loans to SMEs in Wenzhou.

How did the amount of the 60 billion reloan be measured? The source said that it was mainly the sum of the amount of the notes that were not held by the banks of Wenzhou, including the acceptance of bills of exchange.

These bills are to be sent to the central bank in exchange for 60 billion yuan refinancing.

"The problem now is that the 60 billion yuan refinancing is equivalent to printing 60 billion yuan bills. If the base money is added to the monetary multiplier, the amount will be very large."

He said, "this is in conflict with the current tighter central bank monetary policy".

Therefore, he has little confidence in the approval of the 60 billion yuan re loan. "Recently, the government has not talked about this matter. It may be stranded."

At present, dredging the debt problem of banks and enterprises has become the focus of Wenzhou finance office.

Wenzhou has set up a financial coordination unit, so far it has solved 3 debt crisis of banks and enterprises, involving 19 banks, with a total loan of 1 billion 300 million yuan.