Increasing quantity and amount of private loansSince the macro-control, as commercial banks tightened lending to private enterprises in Beijing, many enterprises had to turn to high interest rates, borrowing, then, Beijing the number and amount of loans is growing.
Fudan University of Wenzhou private finance scholar Zhang had made a deep study, one of the very interesting: when tightening macroeconomic situation, Wenzhou private lending interest rate will rise relax the macro situation, Wenzhou private lending interest rates will decline. In this context, private enterprises still increases by borrowing money, and continue to show an upward trend. According to the survey, in Guangdong, Fujian, Zhejiang private economy developed area, the private finance to raise about one-third of the State-owned bank.
since the second half of last year, private enterprises to enter the field of heavy industry on a large scale, and invested heavily in order to complete the transformation. Private enterprises are started with textile or service, are not familiar with the field of heavy industry and lack of experience in operation of the Fund, and lack of knowledge of macro-control, many private enterprises can struggle, and some are even halfway. In order to get through this stage, financing of private enterprises in difficult circumstances, had to choose private lending. Thus, private lending and private finance to renewed prosperity.
private lending "prosperity" caught the attention of people, managers, financiers worry: because private finance is outside the scope of official financial regulatory financial behavior and financial behavior is, in the absence of any external audits and external risk-sharing mechanism of environment------private finance risk management there is great uncertainty and risk.
in addition, private lending and private finance is often formed through the lending or long or short capital chain, if the one of the links fails, the whole chain will break down.
at present, the macro-control measures have taken stage result, the Central Bank for macroeconomic regulation and control policy, with a focus on minor changes have taken place, the next step will perform a regulated approach to maintain pressure, limited support. First half is over, now is in a transitional moment. Walk in the credit funds of no small number of civil society, will no doubt have negative impact on the ongoing macro-control------this will greatly reduce the macro-control efforts and results. And the medium and long run, once these problems with business credit, follow civil non-performing assets, or private provision for bad debts. Civil bad lack basic legal participation and Government Regulation. Once a number of capital chain rupture, a complex folk financial crisis probably was inevitable, and may even trigger a local social unrest.
so, must guard against resurgence of macro-control of private credit, and the risks it implied. People's Bank of China Deputy Governor Guo Shuqing said, pay attention to governmental financing fund in vitro cycle. People's Bank of China Xie ping, the Secretary for financial stability at the 2004 China International Conference in Finance's talk about the current problems in rural financial reform in China also said that rural nongovernmental credit acts as a natural financial contractual arrangement, it is impossible to eliminate, but it was a spontaneous action, destructive on formal financial arrangements. That show that senior executives have noticed that the problem of private finance.
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