Qiu Jibao, Deputy To The National People'S Congress, Should Set Up A Policy Oriented State Bank For Small And Medium Sized Enterprises.

The Central Committee held at the end of 2011

Qiu Jibao said that for a long time, financial resources were gathering to large and medium-sized enterprises, and the financing difficulties of the small and medium-sized enterprises, especially small ones, were very prominent.

We see that at present, the lending rates of many banks are up to 30%-50% on the benchmark interest rate. The total cost of some local commercial banks' loans to SMEs is around 13%.

Some banks charge management fees, consulting fees, quota establishment fees, loan commitment fees, loan arrangement fees, risk deposits, etc. in disguised form, and some banks require that part of the loan amount should be used to purchase the financial products designated by banks, so as to increase loan costs in disguised form.

Small and medium enterprises, especially small and micro enterprises, can not afford to borrow money.

This has virtually left blank points in the financial market, which are exploited by other legitimate non mainstream financial institutions and social private capital.

In view of the fact that many small and medium-sized enterprises turn to private lending, Qiu Jibao said that a large number of small and medium-sized enterprises are hard to get the support of banks. In order to survive and develop, they have to rely on private lending in the gray area.

Data show that small and medium enterprises account for less than 20% of short-term loans.

Although government departments at various levels and financial systems have made great efforts to solve the financing problems of small and medium-sized enterprises in recent years, there are not many real characteristics and economies of scale.

Institutional innovation, product innovation and efficiency of examination and approval are difficult to meet the management characteristics of SMEs.

According to a survey conducted by the National Federation of industry and commerce, more than 90% of small and medium-sized private enterprises are unable to obtain loans from banks.

In the past 3 years, nearly 62.3% of the national private enterprises and family enterprises have been financing through the form of private lending.

In May 2008, the CBRC and the people's Bank of China jointly issued the guidance on pilot projects for small loan companies. Small loan companies sprang up and grew rapidly.

It is unquestionable that small loan companies have played a positive role in supporting the demand for funds for "three rural", small and medium-sized enterprises and individual businesses.

However, in reality, small loan companies can only solve temporary problems.

Qiu Jibao represented this high interest rate as "inducing dove to quench thirst".

In his view, the CBRC and the PBC stipulate that the upper limit of the interest rate for small loans is 4 times the interest rate of the same period of the bank, and the small loan companies, which mainly pursue profit or even profiteering, are basically issuing loans at the upper limit interest rate.

This is like adding another link in the market circulation, thus increasing the burden on consumers.

Especially since 2011, under the influence of the foreign economic downturn and the adjustment of domestic macro-economic control policy, under the severe challenge and pressure, China's small and medium-sized enterprises have been rushing to the private lending market from the difficulty of obtaining credit resources from formal financial channels, which not only aggravated the scarcity of funds, but also further pushed up private interest rates, increased the debt burden and operational risks of enterprises, resulting in "financing difficulties", "financing expensive", "financing chaos" and "financing risks" for SMEs.

There are small and medium-sized enterprises' own problems, such as the lack of modern management concepts in small and medium enterprises, the lack of pparent financial information, the lack of collateral for collateral, and so on. On the other hand, it is closely related to the external environment of SMEs. For example, the role of capital market in supporting small and medium enterprises, especially small businesses, is very limited. The credit guarantee mechanism of SMEs is not sound enough, especially the conditions established by formal financial institutions. Generally speaking, enterprises with assets, scale or certain strength are the loan objects. This has a higher threshold for SMEs, and can not enter the loan management system of these financial institutions at all. Moreover, financial institutions aim at controlling risks, improving management efficiency and obtaining the maximum benefits of funds, making it difficult for SMEs to obtain loans. The reasons for this are Qiu Jibao's representative analysis from several aspects: on the one hand

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What should I do? There are always problems to be solved.

On behalf of Qiu Jibao, he put forward the proposal to set up a policy oriented bank for small and medium sized enterprises.

He said that in 1994, as a major initiative in the reform of the financial system, the state decided to set up the National Development Bank, the China Exim Bank and the Agricultural Development Bank of China. At the same time, it separated the policy functions of the four major state-owned banks and cut off the links between the basic currency and the policy business. Therefore, policy finance was established as an independent financial system in our country.

Since its establishment, the three major policy banks have played an important role in carrying out national industrial policies, supporting regional economic development, and promoting sustained and stable development of the national economy.

Some developed countries do not have policy banks serving large projects or big enterprises. Instead, there are policy financial institutions specialized in serving small and medium-sized enterprises.

Community banks in the United States, savings banks in Germany, small and medium enterprises in Japan, and small and medium sized enterprises in Korea have many advantages such as low operating costs, flexible funds, specialization and so on. They are very suitable for SMEs' own characteristics and market demand.

As a developing country in Bangladesh, its established rural bank is also dedicated to entrepreneurs who are unable to obtain traditional bank loans because of poverty.

When it comes to the feasibility of establishing a policy oriented National SME bank, Qiu Jibao said, the source of funds can be allocated by the central government, local finance and the two profit of central enterprises.

Branches can be set up in counties and towns directly across provinces and municipalities.

If we consider that the cost of new institutions is too high and the time is too long, we can pform the currently widely covered Postal Savings Bank of China into a national SME bank.

The function of the bank should implement the development strategy of the country to the small and medium-sized enterprises by means of financing, not only do not chase profits, but also can not avoid the necessary losses.

As for the policy banks, how to accurately achieve the government's intentions, Qiu Jibao said that banks in the policy oriented countries still have to retain the basic attributes of banks. When implementing the government's policy intentions, they should be carried out in the form of "bank" rather than in the form of direct financial rationing; therefore, when there is credit paction, banks still have the responsibility and obligation to recover their principal and interest, which can not reflect the state policy by abandoning the principal and interest, but should be carried out through the inclination of credit investment and preferential interest rates.

In short, Qiu Jibao expressed the hope that the state should learn from the advanced experience of foreign countries as soon as possible, and promptly establish a policy oriented Bank of small and medium sized enterprises, and support SMEs by providing loans, guarantees and technical assistance to SMEs.

At the same time, the establishment of private banks, including village banks and community banks, can further relax the access conditions and sources of funds, limit their service objects and reasonable interest rates, and establish a diversified and multi-level way of financing for SMEs with other financial institutions, thus promoting the healthy and sustainable development of SMEs and the real economy in China and achieving the goal of "solving the present and basing ourselves on the future".

Brief introduction of Qiu Jibao

Qiu Jibao, the eleven National People's Congress, vice president of China International Chamber of Commerce, founder and chairman of flying group.

Born in July 1962 in Taizhou, Zhejiang, the title of senior economist.