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The author:(作者)aaapublished in(发表于) 2014/12/10 8:32:30 Wenzhou gold modified 3 years still bothered： registration of private lending difficult landing
"Financial · capital" Wenzhou reforms nearly three years, the core problem still
High financing rates and low rate of registration of private lending, P2P NET loan to run frequent
The China economic weekly reporter Lao Jiadi | Reporting from Shanghai
In March 2012, a "child" financial consultation was launched with a bang. Lying on the operating table, private capital on the banks of the oujiang River, is the boiling, the financial industry the most "grass roots" of Wenzhou. At that time, because the near-collapse of the financing chain, Wenzhou model accepts the parties view as a whole, from decision-making to local entrepreneurs, without no hurry out of the reality of the prescription.
In March 2012, the State Council decided to establish the financial integrated reform experimental zone, Wenzhou City, Zhejiang Province, and then financial reform experimental zone in Wenzhou had been born close to 1000 days, the original fanfare seemed to be getting the extremists. Not only did not have heavy news to stimulate the market for a long time, the a-share "Wenzhou plate" empty for some time, was a native of Wenzhou's financial reform think tank experts to "don't know", "no research" as grounds for refusing to accept an interview with the China economic weekly.
For financial reform process moves to the Middle, outside view also contains a pessimistic judgment, considered its relationship with the public and local Government's expectations gap. Zhu Ning Vice President of Shanghai Jiao Tong University Institute of advanced financial research to Wenzhou several times over the past three years, admitted to reporters he also feel: "more lively at first, in the past year, Wenzhou and social impact of reforms, has weakened. ”
However, the Mayor of Wenzhou Chen Biao said the reforms in public a few days ago, "evaluation than lay in the industry". According to press reports, in Wenzhou locally, formerly addicted to borrowing under the line private finance has set his sights on popular Internet financial, low-key for a new adventure.
Under the financing costs facing difficult
"Among the three issues that year haunt in Wenzhou, including civil investment channel is obstructed and the boss runaway problem as a whole, but most important is the question of financing, financing your, this issue continues to haunt in Wenzhou, and Wenzhou as the representative of the southeastern economy. "Zhu Ning says.
According to Wenzhou Finance Office monitoring data released this week ending November 24 to November 28, and comprehensive index of Wenzhou private lending for an annualized rate of 20.2%, still higher than the national comprehensive index 19.53% for the number of private lending.
Wenzhou Finance Office Director Zhang Zhenyu said, Wenzhou small and medium enterprises, since financial reform, financing and financing has not been fundamentally resolved your issues can only be eased.
Financial circles in Wenzhou also accepted the judgment. Wenzhou Hui asset management, risk management director Wang told the China economic weekly: "originally introduced by the implementation of certain policies and landing does not reach an ideal situation, the reforms proposed to the objectives envisaged and actually reached are still lags behind. ”
Corporate finance most of which is compounded by the city's banks to tighten their purse strings. Figures from the year 2014 Wenzhou City only 6.424 billion yuan of new bank loans in the first half. 2012 highest monthly 11.445 billion trillion yuan in new loans, nearly twice times the number was added six months of this year.
Wenzhou Promotion Association for SME dewen told the China economic weekly, Wenzhou financial institutions loans, credit conditions remain severe, "corporate finance as a whole is still very difficult, tense capital. ”
"This is because Wenzhou prices fell have too more, has continuous more than 30 multiple months declined, Bank aspects of General award letter in reduced, zhiqian Bank financing of body volume about is 500 billion, but currently real estate shrink 30% Hou on is equal to playing has 70 percent, this part liquidity itself also needs relies on gold modified to promoted, so Bank on enterprise funds of circulation and reduced funds cost and no up to too big of role. "Wang explained.
One unwilling to named of Wenzhou a Industry Association head is on reporter added, to he of observation, this and reform mainline enough clear exists associated, "initially proposed gold modified of background is 2011 continuous exposure out of civil borrowing crisis, we are looks forward to eventually can through reform guide civil capital better to for small enterprise service, but last of reform programme gradually looks at Yu more broad, and more macro of financial policy field, core target became fuzzy has, hard concentrated policy resources to charge most important of financing difficult problem. ”
Registration of private lending to fall
Wenzhou gold changed, faded concept of passionate partying begin detailed depth tour. As the reform gradually into the Sham Shui Po District, seems to have changed this meat love grab market attention, small town qualities in a high profile in the past.
Reporter noticed a detail in an interview: the start of the reform, Wenzhou basic academics and Government departments on the media is "smiley face to talk" State, along with the deepening of the reform, would be transformed into a relatively cautious attitude after half a year, compared with two years ago and last year several interviews and interview contact difficulties this year were significantly larger.
"Now I don't study this, don't know about this thing", "my identity is too sensitive, it is not convenient", and "Wenzhou, you would do well to ask experts in the field, we do not judge ourselves"-last year I interviewed several of Wenzhou local observers have answered.
According to Zhu Ning's summary, Wenzhou driven in almost three years of financial reform measures can be divided into three levels: the first, set up a small loan company focusing on SME financing, led by financial institutions; the second is led by the Central Bank, different banks for small and micro enterprises and problems of enterprise financial assistance or debt restructuring; the third is development of emerging investment and financing channels such as Internet banking.
Reporters noted, registration of Wenzhou private lending services center is iconic institutions fall into the first category, because the dawn mission was supposed to improve the transparency of lending and so has gathered multiple eyes. However, the operating result seemed ideal for nearly three years.
"Based on publicly available data can be worked out, now up to 90% private financing is not included in the registration system, in the financing of registered, nearly half are not registered financing purposes. "Ye Tan, a financial commentator says.
Journalist access to Wenzhou Finance Office figures show, from April 26, 2012 registration service center was established to the end of February 2014 Wenzhou private lending, lending a total of 2.35 billion yuan in registered; on March 1 this year so far after the introduction of the Wenzhou private finance and Administration Ordinance, registered private financing of about $ 7.2 billion yuan.
First combined is less than 10 billion yuan, according to data provided by Mr Zhou, the current lending market size of about 80 billion yuan, which means that only 10% of private lending select active registrations.
And according to related requirements, "single pen borrowing amount 3 million Yuan above of", and "cumulative borrowing amount 10 million Yuan above of", and "single pen borrowing amount 2 million Yuan above discontent 3 million Yuan or cumulative borrowing amount 5 million Yuan above discontent 10 million Yuan, and involving of lent people cumulative 30 people above of", must to platform registration, but real Executive landing of effect apparently cannot was satisfaction.
Reporters learned that as early as in the reforms for half a year, the registration of private lending services model will be copied to the 7 counties, because the business model is not clear, run effect is uneven.
"Borrowing money is private, I have money to lend, or wanted to borrow money, why should I register? "I wish I was registered, the Inland Revenue Department will check, that no one look up a correct? "Despite nearly three years of a break-in period, such thoughts in Wen still occupy large proportions.
"Webify" Internet banking is still difficult industry woes
However, even if the overall effect of weaker-than-expected, Wenzhou native financial salvation never stops. Yan Yi pan is one of smell-sensitive people. He owned ABA Director of Finance Committee, Wenzhou, Wenzhou City Municipal Audit Bureau titles such as special Auditors, set up private lending in public platforms, started earlier than the Government: in 2010, he was found in routine cases of economic agents borrowing potential crisis to set up the "Wenzhou private lending network".
"Some time ago, global Internet Conference held in Wuzhen, said everyone in my circle of friends, held in Wenzhou, why not? Get the ' jealous ' feeling. "As one of the earliest step in Wenzhou in Internet financial, Yan Yipan seem a bit" jealous ".
In his view, the city's new financial model already has a certain amount of Internet infrastructure. Reporters learned from the Wenzhou Finance Office has been lodged with the Office of finance own P2P network loan companies reach 70, Wenzhou, larger loans, loan evaluation data, such as Wen very top. From January to November 5th, "Wenzhou credits" trading volume nearly 9.1 billion yuan; "Wen crediting" volume of over 1.8 billion yuan, ranked 20, sanshin thaw, Ding credit data also indicate ranking in the country is among the best.
But it's also rather embarrassing reality is, P2P and many other places have sprung up brutal growth of industries like Wenzhou P2P has failed to get rid of Robin Hood figure, even in October and November played "run Vanguard" role.
On November 4, Ryan "urban loans" announced its closure, Wenzhou, became in October "thaw Yi of wealth" and "General gold" and "wantong Fortune" after the fourth failed loan company of Wenzhou P2P network. It is reported that the October 3 financial benefits boss lost wealth, lost a total of about 30 million Yuan on October 8 pass Gold's official website announced a halt, total incoming 26.86 million Yuan (lending the borrower fails to repay investors); October 15 wantong withdrawals hardship to wealth, the boss lost, always be subject to 27.5 million dollars – which has left many investors talk about "Wenzhou platform" color change.
"At first everyone was crowding around, Wenzhou, a P2P platform for very high input costs, staff and venue cost not less than 1 million a year, plus promotion costs, total spending not less than 2 million dollars a year. "Analysis of Yan Yipan told the China economic weekly, high cost of P2P revenue comes mainly from the loan intermediation income, so there were not operating.
Indeed, while Wenzhou P2P ecology is showing signs of gradual improvement, such as P2P has also set up in Wenzhou, Wenzhou currently connect investors and financial discipline Committee Oversight Committee, but the discipline and integrity of the platform alone is clearly not enough.
And financing, financing your problem is similar to P2P now of the populist era of Wenzhou is only a microcosm of the nation, not on its own can cure. It is worth mentioning that, a P2P platform itself is in question has joined the Wenzhou Internet financial member of the discipline Committee, the industry's regulatory vacuum is the real culprit.
"Internet banking, on the whole, are part of a private finance, we must first designate regulators, CBRC, banks, telecommunications are now however, access conditions have not been set. "Zhou stressed to reporters.
China economic weekly
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