129724942012738094_78This year's national financial work Conference made clear, it is necessary to adhere to the requirements of financial services to the real economy, ensuring that money into the real economy, an effective solution to financing the real economy, financing your problem.
Judging from China's current economic and financial market development, financial services entity will become the future of China's financial reform and development in the past. Financial and economic transformation shouldPositive interaction between the financial sector and service in the real economy is rooted in the real economy must be aligned with the real economy, through the changing concept of financial sector development, facilitating the financial industry's own rapid development, accelerate the pace of industrial restructuring can be achieved.
Financial macro-control means, and resource allocation, financing tools. Strengthen finance management mode transferType, efficiency of optimizing the allocation of financial resources, conducive to the promotion of changes in the pattern of growth in consumption, investment and exports balancing, push forward independent innovation, and accelerate economic restructuring, which is also a key point of China's transformation of mode of economic development. At the same time, facing the financial industry's development is inseparable from its economic environment and conditions. Change the mode of economic development is essentially a profound economic transformation, Will have a profound impact on the economic environment, which have a significant new demands on financial sector.
For example, around the optimization and upgrading of industrial structure, improve people's livelihood, expanding consumer, SME development, and energy-saving emission reduction and new energy development, rural economic development, regional economic coordination and development, will have significant new financial demands. This will promote financial services implementation is keyChanges: first, the financial sector is shifting from mainly serves big business services large enterprises and small businesses, focused on strengthening financial support for small and medium enterprises to reduce enterprises ' financial squeeze for small and medium enterprises. Two main service is the financial sector from manufacturing towards agriculture, manufacturing and services, focused on strengthening the support for agriculture and services, and promote industrial transferType.
Micro-financial service small breakthrough in the transition from a global perspective, little micro-enterprise loans for any proposition that is an intricate and obscure financial system. Small micro-enterprises operating conditions of the high risk of conflict with the prudence principle for bank lending significantly, both developed and developing countries, the small number of micro-enterprises to obtain loans from financial institutionsAre subject to considerable restrictions.
According to the China industry and commerce, according to the statistics, 90% of the enterprise-scale enterprises in China do not have any borrowing and banks occurred, and micro-enterprises in the 95% does not have any borrowing and banks occurred. Chinese small difficulties special in micro-enterprise credit is also due in credit squeeze small and medium-sized micro-business is often the first whenRush being squeezed out of the object.
Because: first, financial pricing mechanism disorders result in insufficient financial support for SMEs.
2011, the volume control tool, stable and tight monetary conditions conducive to large enterprises taking advantage of credit conditions. At the same time, overall lower interest rates, could not reflect the actual cost of funds, makes large-Small businesses cannot be reflected at the Fund use efficiency differences.
Second, traditional bank mortgage credit lead to insufficient light small micro-enterprise support assets.
Existing system of bank financing used to capital-intensive, heavy assets of industrial enterprises, enterprises need to have sufficient assets mortgaged to get loans from the Bank. Small and micro-enterprises oftenFocused on the flow of trade, service industries and other light industry assets, it is difficult to obtain bank credit. In the process of economic transformation, industrial upgrading is important content of China's economy is shifting from extensive input of traditional manufacturing industries rely on resource intensive one or two, and three industrial coordination development of a balanced industrial structure, common trait was shifted from heavy asset coexistence of important assets, from-Steering intangible assets and tangible assets exist side by side.
For banks in the absence of collateral risk screening, pricing power is a huge test, banks began to differentiate differences in starting points. Small micro-enterprise credit object light as assets, while its risk characteristics can fully reflect the difference in the interest rates are undoubtedly banks seek transformationTo the breach.
For the banks, service small micro-enterprises is also in the context of current capital constraints, continually enhance practical choice.
Past in order to boot, to extension of expansion as the main characteristics of the traditional business model of excessive consumption of capital consumption, unsustainable, thus forcing banks to readjust the structure of business and a revenue model, towards capital savings in diversified business model. 《Commercial Bank's capital management approach provides that SME loan under the weighting method for 75% the preferential risk weighting, under the IRB approach retail loans apply mutatis mutandis in terms of regulatory capital requirements.
For face larger capital shortfall of banking, services small micro enterprises there are obviously practical significance of reducing capital consumption. Number of joint-stock banks and city commercial banksHave made positive explorations.
For example, Minsheng Bank is located in the "small micro-enterprise Bank", from commercial loans through the small micro-financial 2, innovative small micro-enterprise risk management instruments, and has set up a clothing, jade, aquatic products, stone, tea and other characteristics of the professional branch. By the end of 2011, Minsheng Bank small micro-enterprise loans had reached 240$ 0
tor Warzone Commendation power leveling, loans to households up to 140,000, support the 1.5 million people in employment, becoming a small micro-enterprises in China and the world's largest financial services institutions. Risk pricing guide small micro-banking services in small companies with small size, income instability, weak risk-resistant ability, high loan default rates, lack of features such as eligible collateral, as risk-averse banksCosts and higher risk premiums to their loans.
From the financial institution's costs, risks and benefits of matching perspective, loans to small and medium enterprises is inconsistent with the big banks the best market practices. Which is why small micro-enterprise financing, financing more expensive. Particularly in the credit resource allocation under strained conditions, credit rationing to operational risk is relatively small,Negotiating capacity high inclined, make bank loans more appetite for large State-owned enterprises, large companies supported by credit advantages more obvious, small micro-enterprise credit squeeze pressures facing was tougher. To improve credit availability for small micro-enterprise, there are several optional ways: first, improve the financial service system, to develop a multi-level credit market to developSmaller financial institutions.
Small and medium-sized banks and SMEs has a natural connection
tor commendation power leveling, able to offer our small micro-enterprise "tailor-made" service.
Second, let the price of money "to market fluctuation," that under the "income covers risk" principle, reflect the banks in small micro-enterprise risks and costs incurred in the provision of credit. Third, improving small micro-enterprise credit risk tolerance,Regulators in Allowance For Doubtful Accounts tax deduction, pretax write-off of bad loans and provide matching incentives, raising the enthusiasm for this kind of business.
At present, the small micro-enterprise credit service gradually optimizing the financial regulatory environment, including requirements for SME loan growth, poor rate differentiation, including evaluation, special financial bond issuance. Financial systemPerfect and small financial institution-building is a long-term process of gradual, is currently the most direct and effective way will undoubtedly play in credit risk pricing in the allocation of resources basic effect, promote the supply and demand of financial incentive-compatible as possible. Although this may appear as small and medium enterprises financing costs rise, and profits growth, however, runs from the economy as a wholePoint of view
the old republic Warzone Commendation power leveling, the credit risk pricing guide Bank configuration should be the most efficient.
Experience from abroad, if the Bank on the financing of large corporations than to do wholesale business, the Bank to finance small and medium enterprises is a retail business. Due to SME requirements for each loan amount, but each loan origination process, to maintain the link, such as surveys,Assessment, supervision, and other similar units of transaction cost increase in Bank lending, so for the same amount of loan, Bank on loans to large companies, the unit cost much. Making SMEs ' demand will make it a small amount of funds financing interest rate on the scale of funds financing rates average by more than 2 to 4%. This is just from the operational costsPoint of view, coupled with the small business relative to the large companies more vulnerable to the impact of economic fluctuations, high degree of uncertainty, the risk is far greater, micro-enterprises undertaken by the small risk premium is obviously higher. For the first time the media buzz "Bank profits high", want to see more banks in providing credit to small micro-enterprise support's exposure, as well as the gradual rejection of collateral creditTo identifying and managing risks in credit credit cost. For example, Minsheng banking service launched the small micro-finance to enhance small micro-Enterprise Edition 2, planned three years to establish a 100-150 professional branches, for small micro-enterprise for a specific industry group providing financial services, innovative small micro-enterprise credit risk management instruments, gradually increase the guarantees, credit and other non-mortgageShare of the credit structure, and so on. If just pegged banks ' profits, forcing down small use of administrative means of micro-enterprise financing cost, rational choice for the Bank clearly is to select high margin of safety of large enterprises, small micro-enterprises had to turn to more expensive private lending money, in fact, contrary to the cost of risk pricing rules endPrincipal.
Reduce the small micro-financing costs in the long term, improving the availability of small micro-enterprise credit, lower financing costs for small and medium enterprises, you should try to reduce the negative externalities of banking risk, prevention and control. First, we must make good use of the proactive financial policy, perfect small micro-enterprise finance and taxation supporting measures to effectively reduce SME tax burdens, further implement the pre-taxProvisioning, write-off of bad loans and other financial institutions to support the small micro-enterprises preferential fiscal and tax policies, and to encourage local governments to establish a small micro-enterprise risk compensation fund, reducing the risk of Bank small micro-enterprise loan costs. Second, to guide Bank small micro-enterprises to financial services standards, lower pricing and management costs, encourage banks to set up different types of business units and specializedOperation and increase the intensity of innovation on the risk prevention and control, promotion, patents and other personal property inventory, accounts receivable or interest in collateral, lower the threshold for small micro-enterprise loans, reduction of small micro-enterprise financing costs.
Last to continue deepening the financial system, promote rational competition of financial markets, providing more choices for small micro-enterprise financing. (The author is in the State Council's development researchResearch fellow, China Banking Association Chief Economist) "author: BA shusong" (Editor: Chen Jun)
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