Wenzhou: "Demonized" Private Lending

"Tai", "Kang" and "resistance" are Wenzhou enterprises. Sign The most favorite word in the city is a spectacular "boss running away" storm, but it makes these words look particularly harsh. "It's wise for Hu Fulin to come back in time and return to shore." Ma Jinlong, President of Wenzhou Economic Association, admitted in an interview with reporters: "the crisis has already been achieved. control "

But did Wenzhou "Hold" live in active private capital?

A cold winter in 2008

In Wenzhou, private lending is just as common as eating and drinking tea.

"It seems crazy to outsiders, but we have been used to it for a long time. Friends and relatives borrow tens of thousands of dollars. When they repay the money, they will take the initiative to add interest." Xiao Cao, a native of Wenzhou, looked at the latest hot news and was very indifferent. "We all say so: without these private capital, it is difficult to achieve Wenzhou's developed small and medium-sized enterprises." He said, "but the outside world always equals it with" usury "and says it is as bloody as the ancient Hongkong movie.

From 2009 onwards, businessmen in Wenzhou were plunged into an investment predicament of "bad year". In June 2009, Russia cracked down on "gray customs" smuggling, of which the losses reported by Wenzhou businessmen were more than 800 million dollars. Subsequently, the Shanxi coal industry hall carried out resource integration for small coal mines, and the 50 billion yuan of Wenzhou's capital life and death in Shanxi coal mine was unpredictable; then, the debt crisis occurred in Dubai, and the news of the commercial housing market of the Shang Dynasty crashed, and it was said that the total investment was about 1 billion 900 million yuan, and at least half of them were locked up. Then it continued to this year's Mid Autumn Festival before and after the boss fled the turmoil, one day in September 22nd, there are 9 bosses in Wenzhou.

"When the financial crisis happened in 2008, there was also a boss running away." In 2010, Qiu Shizhi, the chief lawyer in the ten economic years of Zhejiang and the business law firm of the times, looked at the longer term: "now is the continuation and aggravation of the year." The property market will not work, the stock market will not work, and Wenzhou's private capital will be like a beast. "

A dark stream that can't see the bottom.

800 billion yuan, Zhou Dewen, President of the Wenzhou SME Association, once estimated this "undercurrent". But in fact, no one can tell how huge the money is.

"In real terms, the private lending period in Wenzhou will not be too long, and it will be different from bank loans." A familiar Wenzhou insider told reporters: "under normal circumstances, the longest will not exceed a year, the shortest is 35 days, with the turnover of enterprises."

In Wenzhou, "Lao Gao" is not a nickname for a person with high surname, but a person who has high private loans. "Lao Gao" likes to open Porsche cayenne. "Of course," Lao Gao "is not necessarily a" usurer ". In Wenzhou, the interest of private lending is not as terrible as we all imagine. For example, a bank is a 1.5 cent interest rate. In general, if you have a good reputation, you can get a loan of 2 cents -2.5 or so. He pointed out: "but when you do not work well, 5 cents -6 interest rate is possible. I heard that the highest is 0.5 yuan, but these are not normal, and the date of the loan is usually only 35 days, and there will not be a terrible annual interest rate."

The information source of "Lao Gao" is very keen. An industrialist once revealed to our newspaper reporters that as soon as a little bit of wind is heard, business funds are tight, and soon there will be "old high" initiative approaching. But the risk of "old high" is also very high. According to people familiar with the matter, a lot of "old high" capital chains are interlinked. "Take a friend around me as an example. He paid tens of millions of yuan to another friend with a monthly salary of 2 cents, which was broken in August when loan funds were not recovered. It is said that the total amount involved is over 1 billion yuan, involving thousands of people, including not only other "Lao Gao" in the lower reaches, but also government staff.

"As long as it is within the legal limits, there is no" healthy "or" unhealthy "distinction between private capital. My view is that private capital should be stored like a reservoir and poured into dry fields. Qiu Shizhi analysis: "now there are only problems in the links." He disclosed that he had contacted some entrepreneurs, and had borrowed billions of dollars in loans, "not even a white bill". "Their relationship is not relative, nor is their good friends. They are purely trading partners."

A "good play"

As a native of Wenzhou, Qiu Shizhi especially understands the public's concern about the escaping disturbance of Wenzhou's boss. "Investment in coal, real estate, fried garlic and so on, the image of Wen Shang seems not brilliant. Now they have problems, and many people are waiting to see" good play. "

Hu Fulin's return to China hinted at the government's "launch": on the 11 day, the coordination meeting between Lucheng and Xinyang industries and Tai Heng optical enterprises in Wenzhou was held in Wenzhou. The meeting was led by Wenzhou in stabilizing and standardizing the financial order and promoting the economic transformation and development work. The meeting was designed to solve the problem of funding constraints related to the guarantee enterprises caused by "running away". At the same time, banks in Wenzhou are actively applying for credit to their superiors.

It is reported that each bank has reported that the additional credit increments index on the basis of the original amount totals 18 billion yuan, and the credit funds will be tilted to the small and micro enterprises. The finance and Taxation Bureau of Wenzhou also revealed to the media that 12 measures including the active planning and establishment of the special Fund for the emergency loan of Wenzhou urban enterprises in the scale of 200 million yuan have been promulgated recently.

Ma Jinlong said: "the crisis brought about by the storm has been almost handled. In the long run, it depends on the government. system "