Shenzhen Small Shoe Enterprises Financing Difficult To Push Policy Innovation

At the end of last year, Jun Du Li's boss ran a road incident and opened up the corner of Shenzhen folk credit.

The annual interest rate for loans is up to 60%.

Shenzhen banking regulatory bureau has released the three quarter of 2011, Shenzhen SME operation and financial services index shows that by the domestic and international economic situation and macroeconomic regulation and control, Shenzhen small and medium-sized enterprises' survival and development pressure has increased significantly, the confidence index of enterprises has also declined for the first time, and the investment intention of enterprises has declined slightly.

At the same time, loans are still the primary demand of enterprises, and the financing gap of SMEs is still expanding.

The data also show that the industry monitored by Shenzhen banking regulatory bureau has

The high cost of labor and production directly leads to the lack of money for small and medium-sized enterprises.

Lining, vice chairman of the Shenzhen municipal CPPCC and vice chairman of the Futian District CPPCC, has long been concerned about the development of small and medium-sized enterprises. He said that from August 2010 to July 2011, raw material prices for production increased by 60% to 70%, the cost of financing rose by 40% to 50%, and wage costs rose by 30% to 40%, giving SMEs a heavy burden.

With the extreme shortage of market capital, the financing cost of SMEs is rising steadily.

Last year, the annual interest rate of bank loans in Shenzhen was around 12%. If we look for non banking institutions, the cost will be increased by about 20% per annum.

Similar to the situation in Wenzhou, private lending in Shenzhen is also growing brutally under the tight market funds. Short term loans ranging from 4 to 5 cents per month are not uncommon. This interest rate has far exceeded the high voltage line that the regulatory authorities stipulate that the loan interest rate should not exceed 4 times interest rate on bank loans during the same period.

According to Lining observation, the cost of funds used by small and medium-sized enterprises in Shenzhen is very high. From the loan of some small loan companies and Guarantee Corporation, the monthly interest rate is 3 points, the high is 5 points, and some annual interest rates even exceed 60%.

Policy turn

From a borderland town to a modern metropolis, Shenzhen's economic development is largely benefited by policy dividends.

The large enterprises that have grown and developed in Shenzhen feel deeply about the relaxed environment created by policy advantages.

However, the policy environment faced by SMEs in Shenzhen does not seem to be optimistic.

The survey report on the development of small and medium-sized enterprises in Shenzhen, released in 2010, pointed out that many preferential policies were launched in the Yangtze River Delta, the Bohai Bay Area (Tianjin Binhai New Area), Shanghai Pudong New Area, Changsha Zhuzhou Xiangtan comprehensive reform pilot area, and Wuhan urban agglomeration comprehensive reform pilot area.

Many local enterprises in Shenzhen reflect that the support policy of the government mostly implements "support is money", which is contrary to the marketization path of "support is to set up" (building and improving the development environment of the target).

And "giving money" is always "selective", such as objective sales according to object sales, tax amount and other objective achievements, which leads to "the richer the richer, the poorer the poorer."

In the current round of financial reform and innovation, the policies adopted by the Shenzhen government seem to have shifted, and they have deliberately avoided "giving money directly".

Most of the main quantitative objectives of Shenzhen's latest opinions on strengthening and improving financial services to support the development of the real economy (hereinafter referred to as "opinions") are mostly to guide private capital to provide financing for small and medium-sized enterprises from the policy level, and to reduce the threshold for small and medium-sized enterprises to raise funds, for example, the balance of small business loans is not less than 210 billion yuan, and the increment is not less than 38 billion yuan.

The quality of SMEs is not good enough.

Statistics released by Shenzhen Finance Office show that in the end of 2011, the balance of foreign currency deposits of Shenzhen financial institutions was 2 trillion and 510 billion yuan, an increase of 14.39% over the same period last year.

Among them, SME Loans Balance of 439 billion 400 million yuan, an increase of 17% over the same period.

Overall, Shenzhen's financial savings and loans grew steadily last year, and loans for small and medium-sized enterprises increased rapidly.

In fact, compared with many other cities in China, Shenzhen's banking resources are very abundant, and banks are fiercely competitive, competing for innovation of small business credit products, and basically forming a credit product system covering individual businesses, micro enterprises and various levels of SMEs.

The rapid development of Guarantee Corporation, investment companies, financial companies and small loan companies has also kept the financing channels of small and medium-sized enterprises smooth.

The industry believes that Shenzhen SME financing difficulties also have their own reasons, many companies have not maintained a good record of integrity and financial history, such as arrears of wages, no payment of social security, financial chaos is common, objectively brought obstacles to themselves, especially in contact with banks is even more difficult.