Bank Support &Nbsp; Wenzhou Debt Crisis

By setting up a special group and setting up a support fund, the Wenzhou boss's "running wind", the "closing down tide" of enterprises, and the frequent occurrence of debtors' jumping building were basically controlled.

With the support of local banks, some of the "running" bosses have begun to return home to "save themselves", and the danger of Wenzhou's corporate debt is turning the corner.

Debt crisis in Wenzhou is turning around.

The local government has many means to "rescue the market", and the owner's "running wind", the "closing tide" of enterprises, and the debtor's "jumping building" have basically been controlled.

According to Xinhua news agency, the recent situation of Wenzhou City, which was in a state of panic, was gradually stabilized due to the outbreak of debt crisis.

In the past half a month, with the concerted efforts of local governments, banks, enterprises and all sectors of society, the danger of Wenzhou's corporate debt is beginning to change.

Wenzhou set up a special group and set up support

At the end of September, after the crisis, Wenzhou set up a leading group to regulate private financial order and promote economic pformation and development. It is responsible for coordinating and guiding the private financial risks and the disposal of enterprises after shutting down.

The court, finance office, credit committee, and Banking Supervision joint meeting system were set up to coordinate and study the difficult and complicated problems encountered by the liaison coordination group.

Wenzhou organized 25 liaison and coordination teams to be stationed in 25 commercial banks in the whole city.

The "special activities" that these "special agents" do is: together with banks, we should thoroughly investigate the credit enterprises concerned, and solve the problems of hidden dangers, risks and risks for enterprises.

For every loan, the system of "questioning" is implemented, and the "inspector" bank does not extract capital, do not suppress loans, and does not extend loans to normal production enterprises.

The company has good business and orders, but the loan of 15 million 800 thousand yuan can not be renewed after returning to the bank. The reason is that the new guarantor has not been implemented for a while.

If it can not be renewed, enterprises will be oppressed by the high interest of private lending, and repeat the mistakes of their predecessors.

The Liaison Group has found the problem in time with the bank.

In October 13th, the Wenzhou municipal government set up a special fund of 500 million yuan as a special fund for enterprise emergency loan.

Wenzhou Municipal Finance promulgated the "17 new taxes and charges", focusing on helping enterprises to get rid of the difficulties and solve the related taxes and fees encountered in mergers and acquisitions.

"Run the road" boss to return to "save themselves"

The Wenzhou business community generally believes that the source of the capital chain breaking up of some enterprises in Wenzhou and causing the debt crisis is the exhaustion of the "capital pool" of the enterprises leading to the banks.

In order to save the market, the major banks in Wenzhou apply to their respective superiors to apply for additional credit scale, implement loan interest rate differentiation, innovate financial products, lower loan interest rates, and help SMEs in Wenzhou to break away from financial difficulties.

The banks are unified in their actions, and they will not accept loans, do not mortgage loans, do not delay loans, do not float interest, and do not sell financial products.

Wenzhou is one of the cities with the highest loan quality in China, and the rate of bad loans is only 0.37%.

In order to effectively support SMEs' financing, banks relax the assessment requirements for SMEs' non-performing loan ratio, thereby easing the tolerance of loan risks.

In general, the tolerance is relaxed to 1% - 2%.

Hu Fulin, chairman of Wenzhou Xintai group, owes about 1000000000 yuan to banks and private loans. Wenzhou branch is the largest creditor bank of the company.

At present, the bank's loan to fixed assets of Xintai group is 148 million yuan, and mobile capital is 61 million yuan, which amounts to 209 million yuan.

With the support of the provincial bank, the Wenzhou branch of the Bank of China will not take two of the original loans, and the loan period will be appropriately extended. The interest rate will be appropriately favorable and the working capital will be increased appropriately.

In the rapid reversal of the situation, from October 9th to 10, Sun Fucai, chairman of the OMI company and Hu Fulin, chairman of Xintai group, returned from the United States and other places.

After Sun Fucai came back, he formulated a plan to reorganize and reconnect the capital chain, and to rush for the reorganization of the enterprise.

Hu Fulin eats 24 hours a day and lives in the company to save himself.

It is said that the production line of glasses has been partially resumed, and it can be restored to 50% in October 20th.

In addition, we have developed a scheme to build glasses manufacturing and agent chain stores at home and abroad, and strive to realize the pformation and upgrading of labor-intensive traditional manufacturing industries.