The News Says That Small And Medium-Sized Enterprises Will Be Remitted For 69 Items Of Charge

In the private enterprise boss frequently "run" under the pressure, like the rain.

"The Ministry of industry and information technology has submitted a proposal on supporting policies for SMEs to the State Council in September this year, including 69 categories of fees and charges, with thousands of fees."

Close to the decision-making level, people familiar with the plan disclosed in October 12th.

On the evening of the same day, the State Council supported small and micro enterprises by CCTV news broadcast.

A source close to the financial regulatory authorities told our reporter that as inflation peaked down, monetary policy will probably be moderately fine-tuning before the end of the year. The "directional easing" approach should be adopted to relax restrictions on financing conditions and provide financing policies for agriculture, rural areas, small and medium enterprises and affordable housing.

The September CPI's two consecutive month of high downtrend announced in October 14th, coupled with the first cut in oil prices in 16 months, has received notable results from tight policies.

Many experts and insiders interviewed by reporters believe that monetary policy will shift in the four quarter, and the possibility of lowering the reserve ratio is greater.

As a barometer of the economy, the stock market also made an early response. On the 12 day, the Shanghai Composite Index rose 3.04%, 13 days up 0.78%, and the volume increased considerably compared with the previous trading days.

Boss "run away" Domino

In October 8th, Mao Guojun, his wife, Cui Lihua, and his family members who were working in the company were all missing in Shenzhen Jun Du Li Industrial Co. Ltd.

It is understood that Jun multi - company in arrears with the Longhua branch of the construction bank loans 30 million yuan, defaulting Sinochem Group far east international leasing company 17 million 280 thousand yuan, in arrears of suppliers have registered funds of about 12000000 yuan, which owed 33 million of the Guarantee Corporation, and even some usurious loans have not yet surfaced.

Coincidentally, in the private economic base of Wenzhou, frequent occurrence of the boss "run" incident.

According to incomplete statistics, since April of this year, the number of Wenzhou bosses who have run away from the capital chain has been less than 100.

In fact, Wenzhou is already in danger.

In January this year, Zhou Dewen, President of the Wenzhou SME Development Association, issued an early warning to the society: if the current policy of monetary tightening does not change, if the government fails to rescue it again, 40% of the domestic stock SMEs will halt production, suspend production or even shut down in the second half of this year.

What happened next confirmed Zhou Dewen's judgement again and again. The three famous flag group, Jiangnan leather, food chain port and Portman, Zhejiang Tianshi Electronics Co., Ltd. and other famous enterprises went bankrupt, and the boss abandoned the factory and fled.

In June this year, Zhou Dewen said in an interview with our reporter: "now there is a new round of crisis in small and medium enterprises, and it is more serious than that in 2008."

The results of the survey conducted by the National Federation of industry and Commerce for small and medium-sized enterprises in 17 provinces also coincide with those of Zhou Dewen. The results of the survey also show that the survival of SMEs is very difficult and even more difficult than the beginning of the 2008 financial crisis.

At that time, the party secretary of the National Federation of industry and Commerce and the first vice-chairman, Quan Zhu Su, even threatened: "it is estimated that by August this year, a number of enterprises began to die."

In this regard, the Ministry of industry, the Banking Regulatory Commission and other national departments have launched a wider range of research.

In May, the CBRC sent an investigation team to Wenzhou in a low-key manner, holding 5 consecutive seminars.

In June, Zhu Hongren, chief engineer of the Ministry of industry and commerce, took the lead in investigating Wenzhou.

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Small and medium enterprises "life and death line"

In Zhu Hongren's view, first, the cost of production has gone up too fast, and the raw materials have generally risen. Two, the problem of labor costs rising too fast, labor difficulties and labor shortage is very prominent.

These two "cost increases too fast" squeezed the profit margins of enterprises.

Another prominent problem is that the burden on enterprises is still heavy, and the fees related to enterprises are still too high and illegal fees still exist.

Zhu Hongren pointed out that in some areas, financial difficulties were alleviated by arbitrary charges. Some departments used their power to charge for the Department's interests, and some grass-roots law enforcement officers violated charges for personal interests.

How many unreasonable charges are there every year in the whole country? There is no public data statistics yet.

However, according to Zhou Tianyong, a central Party School professor (micro-blog), it is estimated that in addition to the regular tax payment to the various departments of the government, enterprises should pay more than 800 billion yuan for the rent seeking setup due to administrative management, examination and approval, supervision and law enforcement.

An official of the Ministry of industry and Commerce told reporters that in addition to paying taxes, enterprises should also undertake administrative and business charges, such as business sector, environmental protection department, quality supervision department, public health and safety departments, etc. the burden of enterprises is not only heavy but also very complicated.

Man Yanyun, director of the center for urban development and land policy at Lincoln Research Institute, Peking University, found that China's macro tax burden has reached 27% in 2007, reaching about 30% in 2009.

In the first 8 months of this year, China's fiscal revenue was 7 trillion and 428 billion 629 million yuan, an increase of 30.9% over the same period last year. At this rate, even if the growth rate is zero in the next 4 months, this year's fiscal revenue exceeds 10 trillion yuan, which is already a foregone conclusion, far exceeding the 8 trillion and 900 billion yuan target set at the beginning of the year and 8% growth target.

On the whole, China's macro tax burden level should be between 35% and 40% in 2011.

At the same time, monetary tightening has become the last straw to crush small and medium-sized enterprises.

Since last year, the reserve requirement ratio of banks has been raised 12 times in succession.

The reduction of credit scale has further increased the financing difficulty of small and medium-sized enterprises, especially small and micro enterprises.

According to statistics, bank credit basically covers large enterprises and 80% of medium-sized enterprises, and small businesses below scale 80% do not have bank loans. A large number of small and medium-sized enterprises solve urgent problems through private lending, borrowing interest rates have reached 50%-100%, and financing costs remain high.

In an interview with the China Times reporter, Zhou Dewen said that the profit margin of small and medium enterprises is lower than the loan interest rate, and the actual borrowing cost of enterprises has reached 100% or higher, and the profit rate is only 3%~5%.

Reporter survey found that in Wenzhou Lucheng District Portuguese Road area, many shoemaking enterprises are also locked, basically in a state of shutdown.

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"Directional loose" forming

On from October 3rd to 4th, Premier Wen Jiabao of the State Council held talks with some of the heads of enterprises in Wenzhou, Zhejiang. Zhou Dewen made a number of suggestions to the central investigation team at the scene.

He told reporters that Premier Wen asked the Ministry of Finance and the people's Bank of China to introduce relevant financial support policies for SMEs within one month.

Just after a week, the central government's policy of supporting the development of small and medium-sized enterprises in finance, finance and taxation was rushed out.

Premier Wen chaired a executive meeting of the State Council on 12 April, and studied nine financial and fiscal policies and measures to support the development of small and micro enterprises.

There are not only credit support, but also the widening of financing channels for small and micro enterprises. At the same time, commercial banks are required to clean up unreasonable charges for financial services of small and micro enterprises, and to refine the differentiated supervision policies for financial services of small and micro enterprises.

"The first thing to do is to reduce taxes."

Zhou Dewen told our reporter, "small and medium-sized enterprises are so difficult, but in the first half of this year, the tax revenue of the state has increased substantially, the tax burden has been too high, and the current tax policy has to be adjusted, which is always crying out loud."

In the nine measures announced by the State Council, it is also required to further clean up and cancel some of the charges related to enterprises.

The Ministry of industry and Commerce officials said that the state's fiscal revenue has increased significantly, and the government has huge room for tax cuts for SMEs.

At a meeting in July this year, Miao Wei, Minister of the Ministry of industry and commerce, also suggested that in the second half of the year, risk compensation, financial discount, business tax deduction and so on will be studied and taken to alleviate the difficulties of SMEs.

The nine measures of the State Council gave the market more room for imagination.

What are the good measures that will be implemented next?

Will monetary policy turn?

In October 13th, Guo Tianyong, a professor at the school of finance, Central University of Finance and Economics (micro-blog), told an interview with our reporter that the monetary policy in the future is hard to relax. But he suggested that hedge operations on lowering the reserve ratio and interest rate increase and reducing the use of quantity rationing tools with more price instruments would be beneficial to SMEs.

In fact, "directional easing" is being fermented.

According to the regulatory authorities, small financial institutions will continue to implement a low deposit reserve ratio in order to meet the requirements of small and micro enterprises credit increment and growth.

A CBRC pointed out that "the implementation of the deposit reserve ratio of 18% or lower has great attraction for those small and medium commercial banks, especially the city commercial banks, agricultural firms and rural credit cooperatives. After all, their deposit taking ability is relatively weak."

While lowering the deposit reserve ratio, the regulatory authorities have also relaxed the commercial banks' loans to small and micro enterprises in terms of the tolerance of non-performing loans, the establishment of branches, loan to deposit ratio and capital adequacy ratio.

A few days ago, Xiao Yuanqi, the two director of the CBRC supervision, said that the tolerance of small and micro enterprises' non-performing loans increased to 5% in the bank's front lecture hall.

"Among them, loans for small and micro enterprises below 5 million are not included in the calculation of loan to deposit ratio.

For small and medium-sized commercial banks, especially those with relatively high deposit and loan, they can further extend loans without increasing regulatory indicators, though the credit risk of these small and micro enterprises may be slightly higher.

The above provisions are particularly beneficial to banks specializing in the operation of small and medium-sized enterprises.

A joint-stock bank official said.