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Xiaoshan Textile Chemical Fiber Private Enterprises May Die In Batches.

2014/4/21 19:43:00 95

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Xiaoshan Textile And Chemical Fiber Private Enterprises

The rumors of "P > hundred enterprises or mass deaths have again drawn attention to the economic risks of Hangzhou's strong economic region, Xiaoshan and even China's individual regions.

earlier media reports said that many large enterprises in Zhejiang "mass death", similar to Xiaoshan's private enterprises and become a "credit risk zone".

survey found that the causes of financial distress in some enterprises in Xiaoshan are related to mutual insurance.

A person familiar with the matter told reporters that some mutual insurance companies had problems, and when banks looked at the risks of loans, they went to collect loans. In fact, "their own business is good, if banks do not accept it, they will not die."

"Xiaoshan's economic fundamentals are good, but individual enterprises in individual industries have problems and risks."

Li Rujiang, director of the leading group office of preventing and resolving the enterprise's capital chain risk in Xiaoshan District of Hangzhou (hereinafter referred to as the "Xiaoshan District dissolving office"), said that through all the measures, the mutual insurance chain and capital chain of Xiaoshan private enterprises have been basically stable, but the risk still exists, which requires the joint efforts of the three parties of the government, banks and enterprises.

enterprises fall into mutual insurance dilemma

since 2012, there has been news of the collapse of private enterprises in Xiaoshan. Under the mutual guarantee infection and bank loans, some key private enterprises' capital chains are getting tighter and are facing great challenges of life and death.

"risk enterprises are mainly concentrated in two industries: textile chemical fiber and steel structure."

Li Rujiang said that there are risks in individual down enterprises, and there is no danger in auto parts so far. Chemical industry and other industries are relatively stable.

as the main "back garden" of Hangzhou's manufacturing industry, Xiaoshan has formed six major industrial bases, including textile and chemical fiber, machinery and accessories, garment down, steel structure, fine chemical industry and high technology, including Zhejiang's heavyweight manufacturing enterprises such as Vientiane, Asia Pacific and electromechanical industries.

After the bankruptcy and liquidation of "P" (Jian Jie chemical fiber), mutual insurance companies have to carry on their debts, or they can carry them back. There is no problem in survival at present, but a key premise is that banks should not accept loans from them.

Li Rujiang said, "I am afraid that banks are afraid to borrow money. Now we analyze that there may be 2 enterprises in danger, and 3 enterprises are no problem."

"P", in addition to textile chemical fiber, Xiaoshan's other pillar industry is steel structure, production once occupied 30% of the national market, but now it has become a heavy disaster zone in Xiaoshan's dangerous enterprises.

a person familiar with the matter told the first Financial Daily reporter that a company named CITIC steel structure has closed down, involving 4 mutual insurance enterprises and 1 billion 200 million yuan loan.

"Now the first round of 4 enterprises can also support, the key is not to borrow loans, the second circles mutual insurance companies are not yet a problem."

the above personage said that another affected by the collapse of the natural steel structure, and now there is a dangerous steel structure enterprise in Xiaoshan.

"Back to 200 million yuan debt, the bank has borrowed 200 million yuan, now the enterprise has financial pressure."

He said, "the operation of this enterprise is in good condition, and its products are exported to over 50 countries, which sell 1 billion 500 million yuan a year and gross profit is around 150 million yuan."

according to the reporter's investigation, at present, some dangerous enterprises in Xiaoshan are not caused by their poor management, and more risks come from mutual insurance.

"Most banks have a sense of crisis for Xiaoshan enterprises."

A Xiaoshan branch of a commercial bank told reporters that if the bank did not lend money to lend money, the survival problem of the enterprise was not large. Now the most fear is that there will be trouble in the guarantee.

"Banks will give enterprises a pitional period. If hematopoietic function is insufficient, enterprises will eventually have problems."

Li Rujiang said that in the first lap mutual insurance business in Xiaoshan, there were 7 hundred enterprises involved in the first round of mutual protection enterprises, including 2 enterprises, namely, Jian Jie chemical fiber and CITIC steel structure, of which 5 had financial pressure; and in the second circles mutual insurance enterprises, there were 12 hundred top 100 enterprises.

"At present, the first lap mutual insurance business is still in good condition, but the premise is that banks should not accept their loans."

above mentioned insider also said that some mutual insurance enterprises have problems, which are related to banks' rush to loan when they see the risk of loans.

Then, the risk of the first lap mutual insurance business spread to the second circles and third circles mutual insurance companies.

What is more noteworthy is that under the influence of mutual insurance chain, the risk of manufacturing enterprises will spread to agriculture and service industries.

From the whole perspective, it has become a regional economic risk in Xiaoshan, not just a problem of industrial enterprises.

although many enterprises have encountered financial difficulties because of mutual insurance, Li Rujiang told reporters that there are risks in individual enterprises, but there is no such thing as batch deaths in Xiaoshan.

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the expansion promoted by banks /p >

Assistant to the chairman of a steel group in Xiaoshan said that at present, there are more capital intensive enterprises in Xiaoshan, and there are more mutual insurance companies, and the demand for banks is relatively large.

Once the risk of capital chain arises, mutual insurance enterprises will interact with each other and easily generate regional economic problems.

for reasons, the assistant chairman of the board said to reporters: "individual enterprises are now out of danger, which is caused by many reasons such as excessive expansion of enterprises, global market reversal, bank lending and lending."

Xiaoshan's private economy is flourishing. Last year, industrial sales amounted to 550 billion yuan, and the top 100 enterprises with a minimum sales volume of more than 500 million yuan.

In order to speed up the adjustment of economic structure, Xiaoshan encourages enterprises to diversify their development in order to cultivate large enterprises.

However, under the "4 trillion" stimulus policy, some enterprises in Xiaoshan have expanded their capacity too fast.

"at least 1/3 enterprises have investment behavior.

Some enterprises, regardless of their main businesses, engage in sideline production.

Li Rujiang said that many bosses took advantage of enterprises as a financing platform to expand their capacity and invest in other industries such as real estate. On the other hand, under the lack of diversified investment and financing channels, the source of funds was more dependent on bank loans and higher indebtedness, and the "mutual" chain of mutual expansion sharply expanded, resulting in a decline in the quality of enterprise assets and a shortened life cycle.

for example, there is a Xiaoshan a href= "http://www.91se91.com/news/index_c.asp" > chemical fiber enterprise < /a >, before 2010, bought more than 400 mu of land in Anhui, invested five hundred million or six hundred million yuan, and increased the capacity expansion of chemical fiber products.

"At that time, the chemical fiber industry was still good.

But the previous year and last year's excess capacity of chemical fiber resulted in poor sales of the company.

In addition, the company has 16 mutual insurance companies, several mutual insurance companies have fallen down, and the bank has borrowed 280 million yuan for the enterprise.

"P", a number of local reporters interviewed by reporters, said that behind this bank undoubtedly played a major role in pushing hands.

"in previous years, the bank credit policy was too loose. At that time, the bank" sent money "to the enterprise, and also needed officials to do ideological work, because banks had loan assessment indicators.

People who know about the financial situation in Xiaoshan say.

but now, some enterprises in Xiaoshan are most worried about bank lending and lending, and enterprises often involve many bank loans.

"Banks are looking at who first collectors, then the receiver is gone, and also panic."

These people said.

"P", the head of China enterprises, told reporters that the consequences of irrational investment must be borne by others.

The profits of the industry were not high. Many enterprises invested in real estate. They thought they would be able to recover money in 35 years.

government warning lending bank /p >

in the first month of the lunar new year this year, the Xiaoshan District Office was established in Xiaoshan, and more than 20 district level personnel were dispatched to work on behalf of the district and district governments to deal with the capital chain of venture enterprises.

February 14th, the Xiaoshan District Office and the District Office issued the notice on the proposal to resolve the problem of capital chain of venture enterprises. The first basic principle is to adhere to the "market economy development". It requires "persist in the survival of the fittest, classify guidance and separate disposal, encourage the development of well run enterprises, actively support enterprises with temporary difficulties, and actively bankrupt and liquidate enterprises with serious excess capacity and unable to salvage".

"for example," a href= "http://www.91se91.com/news/index_c.asp" > chemical fiber industry < /a >, there is a serious surplus of capacity, and if the enterprise is to die, we will not save it.

For the steel industry, we should eliminate one piece in principle and save one. "

Li Rujiang said that for enterprises that do not conform to the direction of industrial development, backward production capacity and serious pollution, Xiaoshan clearly put forward "to take the opportunity to eliminate".

to this end, on the basis of the above circular, Xiaoshan also issued 4 supporting documents, including the introduction of the guidance price for industrial land, and the guidance price of industrial land mortgage.

"The guidance price of industrial land is conducive to increasing the value of collateral.

As a result, enterprises guarantee less loans, mortgage loans a little more.

This is the most critical way for Xiaoshan to cut the guarantee chain. "

Li Rujiang said.

At the same time, whether banks actively cooperate with each other has become the key for enterprises to untie < a href= "http://www.91se91.com/news/index_c.asp" > capital chain < /a > P.

"now the government meets, asks the bank not to draw the loan, who draws the loan we must inform who.

If we continue to borrow money, we Xiaoshan do not want you, and you should not develop here.

A leading leader of the Xiaoshan District dissolving office told reporters that Xiaoshan would also withdraw deposits and endowment insurance funds for banks that continue to lend money.

According to the reporter, some bankers in Hangzhou have complained about this "tough approach".

for the current business crisis in Zhejiang, Chen Jianjun, a research expert in the Yangtze River Delta region and a professor at Zhejiang University, said that before the local government stepped up its efforts to support traditional enterprises and the "4 trillion" economic stimulus policy, it was only to postpone the crisis. However, the adjustment of industrial structure has not been fundamentally solved.

"by policy stimulus, it has been difficult to continue."

Wang Weian, director of the Institute of financial research and professor of economics at Zhejiang University, told our reporter that the Wenzhou market started early and the problem came out early. Now the risk of traditional enterprises has spread from Wenzhou to the whole province. This situation will spread to the central and western regions, but their situation is not as serious as that in the eastern region.

The dangerous enterprise should be poured down, and the rescue can not be saved by the government.

Chen Jianjun believes that, to minimize social pain and regional economic turmoil, the government should really face the reality, accelerate the pformation and upgrading of enterprises, train industrial workers on a large scale, and develop new industries such as equipment manufacturing.