Follow Up Of "Running Tide": Zhejiang's 100 Billion Capital Pfusion Of Small And Micro Enterprises

Zhejiang government level for folk

In November 6th, the Zhejiang provincial government issued a new policy on small loan companies, which included some suggestions on further promoting the reform and development of microfinance companies, and moderately relaxed the adjustment of access conditions, sources of funds, and standardized management of small loan companies.

Zhejiang province finance office latest statistics show that as of the end of September, Zhejiang province has opened 170 small loan companies issued.

Zhejiang finance office information shows that small loan companies have been more active since the year. The flexibility of their lending methods is mainly reflected in the fact that most of the small loan companies have reduced their lending speed from the original 3 working days to 1-2 days now.

Some small loan companies even accepted the same day.

Statistics show that in the three quarter, the total amount and number of loans granted by small loan companies in the whole province were nearly doubled compared with the two quarter, with a growth rate of 84% and 81.3% respectively.

Survived the three quarter

In November 5th, the Wenzhou municipal government held a news conference to inform Wenzhou of the stable economic and financial order. This is also the first phase of the Wenzhou municipal government's work on credit crisis and entrepreneurs' running events.

Officials say the financial order in Wenzhou is basically stable, and the economic operation and social situation are generally stable.

"In fact, as early as October 20th, when Wenzhou submitted to the State Council a report on the implementation of the prime minister's speech, he hoped that the policy would allow small loan companies to be pformed into rural banks and allow small loan companies to raise funds to a number of banking financial institutions.

This is what Wenzhou wants to do in the size of small and medium-sized loan companies and absorb all kinds of funds.

A researcher from the Zhejiang Academy of Social Sciences said.

In November 6th, one of the highlights of the Zhejiang provincial government's introduction of small loan companies was to relax the entry requirements of small loan companies.

The upper limit of the proportion of the first shareholder of the small loan company and its related shareholders will be expanded to 30%, but no other small loan companies in the county should be allowed to participate in the small loan company.

At the same time, Zhejiang encourages management and business backbone to join small loan companies, allowing eligible enterprises to initiate small loan companies in less developed counties.

The test of the source of funds for small loan companies approved by the state in Wenzhou has also been responded to in the new deal of the small loan company of the Zhejiang provincial government. The new deal stipulates that small loan companies can independently select several banks to raise funds. After approval by the relevant functional departments at the municipal level, they can make loans to the main legal person shareholders, and, after approval, may also make capital swap between small loan companies within the scope of this Municipality.

Second, we must steadily expand direct financing channels.

Excellent small loan companies can cooperate with banks and local financial assets trading platform to carry out assets pfer and other businesses. The scale of repurchase assets pfer business can not exceed 50% of the net capital of small loan companies, and encourage qualified small loan companies to list and raise capital through domestic and foreign capital markets.

Controlled interest rate

Zhuge Jun, a professor of the Party School of Wenzhou Municipal Committee, told the newspaper that according to the information it possessed, compared with Shanghai and Fujian, the number of small loan companies in Zhejiang and the pace of development were at the forefront, and the practice of Wenzhou's small loan companies took the lead in Zhejiang.

"At present, there are 22 small loan companies in Wenzhou, and their operation is in good condition. In 2011, there are nearly 30 pilot projects for small loan companies. If the Zhejiang provincial government agrees to expand the scope of the pilot projects, the small loan companies in Wenzhou will be able to collect more than 10 billion yuan of private capital in 2011."

Zhuge Jun said.

According to our understanding, as of the end of October 2011, Zhejiang province has approved the establishment of 210 small loan companies, including 170 open businesses, with a total registered capital of 34 billion 500 million yuan, which is second only to Jiangsu in the whole country. 30 listed companies or listed parent companies share small loan companies in the whole country, the highest proportion in the country.

Zhejiang financial office information shows that the small loan companies in Zhejiang province have accumulated loans to more than 16 loan customers, 293 billion 630 million yuan, and the total loan amount ranks second in the country. In the past three years, the small loan companies in the province have absorbed nearly 35 billion yuan of private capital.

Statistics show that the average annual interest rate of small loan companies in the first three quarters of this year is 17% to 18%.

This interest rate for small and micro enterprises, the pressure is not small.

At the same time, Zhejiang has set up a red line for small loan companies. Small and dispersed businesses have also set up "three strictly prohibit" red lines. "Three strictly prohibits" that is, it is strictly prohibited to increase loan interest rates in disguised form, strictly prohibit off account operations, and strictly prohibit loan capital flows to the bubble industry and private lending market.