New Billion Loan &Nbsp; Emergency Rush To Wenzhou

"The Wenzhou municipal government needs more than 100 billion yuan of bank funds to alleviate the crisis."

In October 10th, a senior bank executive who had just participated in the government working conference revealed that the 100 billion yuan does not include the 60 billion yuan refinancing request from the Zhejiang provincial government to the people's Bank.

During the "eleven" period, Premier Wen Jiabao of the State Council took 13 ministries and commissions officials to Wenzhou to investigate, and the local government's follow-up "rescue operation" started immediately.

"Capital entry is the top priority."

A participant in private lending in Wenzhou

Urgent mobilization of various funds

On the morning of October 10th, the Wenzhou central sub branch of the people's Bank of China (hereinafter referred to as "the middle branch of Wenzhou") held a conference on financial stability, which mainly conveyed Premier Wen Jiabao's research speech.

Zhou Songshan, vice president of the Wenzhou branch of the people's Bank of China, said that the amount of loans that Wenzhou banks can lend to SMEs is between 30 billion and 40 billion yuan.

The day before, the Wenzhou municipal government convened a meeting of local financial system officials and bank governors.

After the meeting, the Wenzhou branch decided to apply for a new loan of 9 hundred million to the higher authorities.

The Bank of Wenzhou also applied to the bank for about 2 billion of the credit scale, which was submitted to the higher authorities for approval by the Wenzhou branch.

The third step is led by the Wenzhou finance office. The banking regulatory bureau and the Bank of China cooperate with each other to adjust the credit lines of different regions of the banks.

The Wenzhou private capital investment service center has allocated 200 million yuan from its Hongkong marine industry fund as a restructuring guidance fund, which has been launched.

Such funds have gathered some overseas Chinese capital which flows back from Europe and America.

"200 million yuan is only a scale of a guided fund, which will lead other enterprises and funds to participate in mutual assistance. According to the investment ratio of 10% to 30%, it will drive private capital from 600 million yuan to 1 billion 800 million yuan."

Huang Weijian, the actual controller of Wenzhou private capital investment service center, told this newspaper.

The service center also encourages registered member enterprises to support Wenzhou's high-quality manufacturing enterprises facing temporary financial difficulties through capital injection, equity investment, acquisition and reorganization.

In addition, private mutual aid is also a major market.

Wenzhou Lucheng District Federation of industry and Commerce set up a "temporary loan fund for small and medium enterprises to pfer loans". The funds needed come from three small loan companies in Lucheng. The amount of 300 million to 600 million yuan has been launched into the market.

New 100 billion loan scale

News from authoritative sources shows that the Wenzhou banking regulatory bureau, after obtaining the consent of the Zhejiang banking regulatory bureau, relaxed the bank's loan to loan ratio (the ratio of bills to total loans), and the ratio of ticket to loan increased from 30% to 50%, representing an increase of 100 billion of credit scale.

{page_break}

Zhang Yourong, director of the Wenzhou banking regulatory bureau, said at the financial stability working conference held by the Banking Regulatory Commission before October that it was necessary to avoid the credit adjustment or credit policy adjustment to Wenzhou in October, although the amount of 100 billion was difficult, but banks still had to fight for it.

It is hoped that the bank's investment in small businesses will still be lower than the growth rate of all bank loans, which requires real loans to be paid in real time and credit funds to enter the real economy.

Zhang Zhenyu, director of Wenzhou financial affairs office, said he hoped that the banking industry would continue to increase its support for SMEs and strive to achieve the goal of 100 billion of new loans.

At the same time, we should strive to return interest rates to benchmark interest rates.

But big banks feel this way.

A number of state-owned bankers in Wenzhou told our reporter that increasing the loan quota was quite difficult because the increment of loans was determined according to the loan to deposit ratio in the region.

"At present, it is difficult for us to give more quotas.

But interest rates and loan structure have begun to adjust.

It has been reported that at the end of September, 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 for a financial reloan of 60 billion yuan for a period of 1 years, which is specifically used to support Wenzhou bank institutions to increase the financing scale of difficult enterprises, prevent systemic risks and maintain local financial stability.

In response, a financial regulator said that there was indeed such application, which is now coming from the provincial government.