The Healthy Development Of Textile Enterprises Is Inseparable From Financial Support. The Central Bank Responds To Enterprise Concerns.

The pformation and development of textile industry is inseparable from financial support.

In this year's national two meetings, representatives of the representatives of the textile enterprises around the innovation of small loan companies, increasing the financing supply of regular financial channels and reducing the cost of "upside down" for large and medium-sized enterprises.

Facing the concerns of enterprises, the people's Bank of China has also responded to financial reform and other issues: solving the financing difficulties of private enterprises and small and micro enterprises is expensive and requires a long and persistent effort.

What does the business need to say?

In recent years, in order to solve the problem of high financing cost and heavy burden on the financing of small and micro enterprises, the regulatory authorities have implemented a series of policies.

However, outstanding problems such as the pressure of repayment after the first loan repayment still exist.

Feng Lizhao, a representative of the National People's Congress and a truck operator in the weaving workshop of hengming branch of Polytron Technologies Inc in North Ming, Changshan, Shijiazhuang, has brought the voice and expectation from the front line.

"The liquidity of Chinese enterprises mainly depends on short-term loans from banks.

When the working capital loan is mature, enterprises with financing needs must repay before they can refinance.

In order to repay, enterprises must first raise a sum of money, and even borrow high interest funds through private lending, which will bring great pressure to the enterprises.

In the case of enterprises with short-term loans of around 3 billion yuan, the average monthly bank loan is about 300 million yuan, that is to say, enterprises must prepare 300 million yuan of funds to cope with the "reverse loan", otherwise there will be no repayment of the loan maturity. The 300 million yuan fund is calculated at the benchmark interest rate, and it is also about 15 million yuan in 1 years. This is tight for capital, and the labor-intensive enterprises with low profit level are undoubtedly worse.

In addition, under the influence of bank loan approval authority and risk control, the period from application to bank loan is short to 1 to 2 months, long months.

The minimum needed liquidity of enterprises is taken away, and funds are seriously "bleeding" and "broken", which affect normal production and operation.

In the case of untimely loans, there will be persistent financial constraints and even capital chain breakage.

Feng Lizhao suggested that enterprises that are relatively competitive in their normal operation and products and services market should learn from the practice of supporting small and micro enterprises, and implement "no repayment of loans" to reduce the hidden financing costs brought to enterprises by borrowing new and old businesses.

Chen Lifen, chairman of the National People's Congress and chairman of Jiangsu Sunshine Group Co., Ltd. will focus on how finance can promote the coordinated development of the real economy and the virtual economy.

She pointed out that enterprises engaged in the real economy felt more and more difficult to do business, and there was widespread financing problem.

The average cost of financing is around 10%, and the interest rate of private lending is as high as 3~5 or even higher than the legal interest rate.

The United States, Europe and Japan have implemented ultra-low interest rates, and the average cost of financing is no more than 2%.

Financial institutions should make more loans available to the real economy and small and medium enterprises, especially in the medium and long term loans.

Since the Wenzhou financial comprehensive reform pilot area was approved in 2012, Wenzhou has achieved remarkable results in alleviating the "more than 2 dilemmas" problem and promoting the entities of financial services. "Wenzhou sample" has attracted wide attention.

At the two sessions this year, Qiu Guang, chairman of the National People's Congress and chairman of Wenzhou Semir apparel Limited by Share Ltd, while introducing the experience of Wenzhou, suggested that the State Council coordinate the relevant ministries and commissions of the state to support the deepening of the comprehensive financial reform in Wenzhou, take the lead of the people's Bank of China, and promote the deepening of Wenzhou's comprehensive financial reform to serve the private economy.

Central bank governor Yi Gang: strengthening support for small and micro enterprises and private enterprises

In response to a series of problems such as difficulty in financing, in March 10th, at the press conference of the two session of the thirteen National People's Congress, the president of the people's Bank of China, Chen Yulu, vice president of the people's Bank of China, vice governor and Pan Gongsheng, director of the State Administration of foreign exchange, responded by Vice President Fan Yi Fei, including specific measures to increase loans, develop bond financing, set up support tools for equity financing of private enterprises, and stabilize and promote equity financing of private enterprises.

Yi Gang said that in 2019, the people's Bank of China will continue to implement prudent monetary policy in accordance with the requirements of the Party Central Committee and the State Council to prevent and defuse financial risks, better serve the real economy and promote high-quality development.

He further explained that "the connotation of prudent monetary policy has not changed, but its structure will be more optimized, and it will further strengthen its support for small and micro enterprises and private enterprises."

Yi Gang said that in the small and micro enterprises and private enterprises actually feel the financing costs, especially in the lending rate, in addition to risk-free interest rates, mainly because of the relatively high risk premium, so the real interest rate of loans is high, mainly how to solve the problem of higher risk premium.

"There are mainly two ways to solve this problem," he said. "The first way is to reform the interest rate marketization.

We should eliminate some monopoly factors in the interest rate decision process through the reform, make more accurate risk pricing, and reduce the risk premium by more competition.

The second way is structural reform of supply side.

It can improve the pparency of information, improve the bankruptcy system, improve the efficiency of law enforcement, and reduce the rate of fees. These supply side structural reforms can reduce the actual paction costs and reduce the risk premium.

So we will work very hard to promote the reduction of real interest rates through reform.

Speaking of solving the problem of asymmetric information on the micro level of financial market, Chen Yulu said that our current credit reporting system is a "two wheel drive" development mode of "government + market".

The government drive is mainly based on the national credit information basic database, which is charged by the people's Bank Credit Information Center. At present, the database has access to credit information data of more than 3500 banks and other financial institutions, 990 million credit information of natural persons, credit information of about 26000000 enterprises and other legal organizations. On the market drive, there are 125 enterprise credit agencies and 97 credit rating agencies in the market, of which 80% are private capital investment.

Chen Yulu hopes that the market credit rating agencies will be able to upgrade rapidly in terms of innovation and competitiveness, so that the market for credit reporting services will become stronger and bigger.

This year, loans for small and micro enterprises of large state-owned commercial banks will increase by more than 30%.

How to make more enterprises enjoy the benefits brought by policies?

Pan Gongsheng said that in supporting the financing process of small and micro enterprises and private enterprises, we should pay attention to market rules, adhere to precise support, and select private enterprises that conform to the direction of national industrial development, and whose main business is relatively concentrated in the real economy, advanced technology, products with market and temporary difficulties, so as to prevent blind support, surprise loans and enhance the ability to control and control future financial risks.

Representative voice

Qiu Guang, chairman of the National People's Congress, chairman of Wenzhou Semir apparel and Limited by Share Ltd, innovating financial services and private economy

1., we should further promote the regulation and guidance of private capital.

We should innovate the development path of private financial organizations such as small loan companies, private capital management companies, and rural mutual funds, and guide the standardization of private capital.

We should encourage private capital to enter the financial field in the form of pferable equity, merger and reorganization.

We should improve and deepen the implementation of the regulations on the management of private financing in Wenzhou, and deepen the mechanism of private lending registration and filing.

We should explore the functions of private lending service centers to increase credit services, improve wealth management and financial information service intermediaries.

Expand the application of the "Wenzhou index" and explore the establishment of a dynamic monitoring system for private financing.

To strengthen and strengthen the Wenzhou civil and commercial bank, continue to promote business, service, process and management innovation, strive to carry out loan and linkage business pilot, create small and micro banks and industry chain bank benchmark, provide a "Wenzhou sample" for the pilot of the national private banks.

2., we should further innovate the private sector of financial services.

We should improve the pricing mechanism of deposit and loan interest rates, and integrate the two pricing systems of deposit and loan interest rates and financial market interest rates, eliminate the dual track system of capital prices, and finally achieve the full market pricing of deposit and loan interest rates, so as to provide experience for the promotion of the whole country.

Build a credit evaluation system for small and micro enterprises, and promote credit products such as "credit and loan".

We should make full use of the rich capital advantages of overseas Wenzhou people to attract overseas funds to support the development of Wenzhou's local private economy.

We should deepen the construction of the "Trinity" farmer cooperation system, deepen the mode of farmers' assets entrusted to escrow financing, promote the reform of the right, empowerment and living rights, improve the supporting system of asset valuation, government credit enhancement, credit rating, risk supplement and slow release mechanism, and improve the ability and level of financial services for "three rural issues".

3., we should further improve the handling mechanism of private enterprises' financial risks.

We should deepen the pilot reform of bankruptcy cases and improve the cooperative handling mechanism of bankruptcy courts.

We will continue to strengthen the construction of bankruptcy trustees and improve the system of credit recovery for judicial bankruptcy reorganization enterprises.

We should explore the establishment of a loan guarantee registration system to fully reflect the amount of guarantee and actual solvency of enterprises, enhance the pparency of guarantor's external guarantee, and restrict the excessive guarantee financing of enterprises and banks.

We should guide private enterprises to standardize their governance, standardize their financial affairs and standardize their operation so as to promote private enterprises to become bigger and stronger through capital market.

We should actively guide private enterprises to participate in the support plan for bond financing, and earnestly explore ways for private enterprises to "resolve potential risks".

4., we should further strengthen non-governmental financial supervision and coordination.

We should clarify the boundary of local financial supervision, centralization and decentralization of scattered local financial formats, and form a unified local financial work system with centralized management.

We should improve the coordination mechanism of local financial supervision, strengthen the cooperation of the central financial management departments and local financial management departments, and build effective models of local financial supervision suitable for the new era.

We should actively explore the application of block chain, big data and cloud computing technology in preventing and fighting potential financial risks. We should use the financial technology such as block chain to create a platform for monitoring, warning and preventing and controlling private financing risks, so as to promote early identification, early warning, early detection and early disposal of risks, so as to build a local financial risk prevention and control base line.

Chen Lifen, chairman of the National People's Congress and chairman of Jiangsu Sunshine Group Co., Ltd.: increasing the financing supply of formal financial channels

1., we should promote financial reform and strengthen financial supervision.

We should strengthen supervision over non banking financial institutions, pay close attention to the solvency and liquidity of non banking financial institutions, improve the financial strength of non banking financial institutions, strengthen supervision and management of the actual controllers of non banking financial institutions, and promote the appropriate coordinated development of China's virtual economy and real economy.

"Internet + finance" is included in the financial supervision system, and it is possible to induce speculative behavior of financial derivatives, especially financial innovative products, to minimize financial risks, to keep pace with the pace of innovation, to promote the reform and innovation of traditional financial formats, and to coordinate the development of virtual economy and real economy.

We should improve the regulatory standards and regulatory quality of the banking, certification, insurance and trust industries, clarify the regulatory responsibilities and rules for cross financial businesses and financial holding companies, and combat speculative activities in financial markets.

2. guiding funds to the real economy.

We should encourage capital to return to the real economy, implement tax and fee reform, reduce the burden on the real economy enterprises, and create an environment where the return on investment in the real economy is not significantly lower than that in the virtual economy.

Financial institutions should make more loans available to the real economy and small and medium enterprises, especially in the medium and long term loans.

The corresponding policy target is set up for the financial institutions of private enterprises, and the proportion of private enterprises' loans to new company loans keeps a moderate growth.

3., solve the problem of expensive financing in real economy.

We should further reduce interest rates, reduce the cost of bank liabilities, create Inclusive Finance, guide the increase of the financing supply of formal financial channels, replace the high priced funds such as private lending, and reduce the financing cost of the real economy.

The government strengthens supervision over banking industry, supervises the banking industry to take measures to reduce the financing cost and financing cost of enterprises, strengthens the function of banking service enterprises, maximizes the financing to the enterprises, and avoids excessive profits with enterprises.

Further reducing the interest rate difference between bank deposits and loans.

Relax access conditions, promote private finance to become an integral part of the multi-level financing system, and reduce the price of funds through competition.

Feng Lizhao, a deputy to the National People's Congress and Shijiazhuang Changshan North Ming science and technology Hengsheng branch weaving weaving truck: to reduce the "down loan" cost of large and medium-sized enterprises

1., enterprises that are more competitive in normal operation and product and service market should learn from the practice of supporting small and micro enterprises, and implement "no repayment and renewal of loans", so as to reduce the hidden financing cost for enterprises.

No loan repayment is also a practice in developed countries and regions.

In the Taiwan area of China, for those companies operating normally and with stable cash flow, if the loan still needs money after the expiration of the loan, the bank will borrow the new old or extended period, and will not let the enterprise fund "break the file".

They allow enterprises to borrow new and old, and do not pay attention to loans.

In some places, the CBRC will not repay loans to enterprises or even state-owned enterprises that are in trouble.

We need to conscientiously implement the policy requirements of the CBRC on "renewal loan", "revolving loan" and "annual examination system".

Private enterprises, which have good market prospects and good faith management, but have temporary difficulties, continue to lend and not lend money.

We should extend the loan without repayment, and reduce the burden of enterprises by installment repayment.

In May 2017, the Heilongjiang banking regulatory bureau said at a regular news conference of the banking industry that the enterprises with temporary difficulties in production and operation were able to stabilize loans and increase loans, and to innovate the use of policies such as loan repayment and loan renewal.

2., we should strengthen the construction of banking process system, speed up the sorting out of the loan approval process, appropriately decentralization of some loan approval authority, appropriately reduce the examination and approval threshold, enhance the efficiency of enterprise loan approval, and solve the slow loan financing of enterprises.