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Wenzhou money War: 60 billion government loan-guarantee stable demand

   This year, SMEs in Wenzhou, private loans debt crisis triggered by the intensified and Wenzhou, the local government has already taken positive steps to support SME credit. ratchet tie dowm Wenzhou City Finance Office, according to relevant sources, the end of September, Wenzhou City, Zhejiang Province, the government submitted to "require the applicant on the loan and then asked the Financial Stability", by the provincial government to come forward and apply for financial stability to the People's Bank of refinancing $ 60 billion. period of one year, specifically to support the banking institutions in Wenzhou financing to increase the size of enterprises in difficulty, to prevent systemic risks and safeguarding the local financial stability. Yesterday, Bank of Ningbo,booster cables said an additional 1 billion yuan of special funds, the more the economy with wind and rain and Ou, and closely aligned with the industry in Wenzhou.

   Finance for SMEs in the soil for good

    It is understood that the beginning of the third quarter of Ningbo Bank began to apply for special credit to the head office to help the economy in Wenzhou has so far approved 74 million yuan of credit scale, into the real economy. To consistently practice the Bank of Ningbo "and the total growth of SMEs" philosophy has always been, in the fourth quarter, the bank guarantee in addition to the general credit of the Wenzhou branch allocation of resources, but will continue an additional 1 billion yuan of special credit funds, the full support small enterprises in Wenzhou.

    tow rope Ningbo Bank Yufeng Ying said that as long as the SMEs to focus on core business, in line with national industrial policy and credit policy, Bank of Ningbo will cooperate with efforts to find the right contacts, to provide a good incubator for SMEs to finance the soil. Zhejiang police recently released to the community early warning information to alert the public to guard against the risk of illegal fund-raising.

    Feeding Lyon 150 billion bad debt credit

    Recent civil usury funds strand breaks leading to the case of some SMEs have burst, causing the market for Chinese bank asset quality concerns about the potential risks. In this regard, the gold company in the recent report estimated that as of mid-2011, China's private lending balance of 3.8 trillion yuan, an increase of 38% of the total size of the shadow banking system China 33%, equivalent to total bank 7% of the loan. According to the findings of the central bank branch in Wenzhou, private lending of gold is estimated that about 30% -40% use of bank loans.

    It is understood that the private lending CLSA research report has revealed that the total outstanding loans of Wenzhou people may be as high as 800 billion yuan to 10,000 yuan, as some local companies began to go bankrupt this year, an estimated 10% -15% of the outstanding loans will will become bad debts.

    However, the gold company that is now affecting the market for private loans are too pessimistic. "The current average interest rate of Wenzhou private credit roughly 24% -25%, 50% -60% rate of private credit is not more than an estimated non-performing loans to small business banking will rise 155 billion yuan, equivalent to 0.46% of total loans . breach of private lending will not lead directly to the bank's bad loans rose. "

    Scholars: private living space by squeezing

    People set off for the mainland's "speculation money" in the wind, China Europe International Business School of Economics and professor of finance at the micro-Bo Xiaonian said recently, not only rich in Wenzhou to financial, emerged over the Mainland this trend.

    Xiaonian that speculation is only a superficial phenomenon, reflecting the lack of investment opportunities in the real economy, more and more difficult for industrial operations. He pointed out that the reason behind this is the country back. Survival of the private economy is increasingly being squeezed, no way out of funds, so the flock looks easy money financial.

    Wenzhou Ji comprehensive reform pilot area to build financial

    As the huge area of ??Wenzhou private capital and private economic characteristics, the local government has been interested in creating comprehensive financial reform pilot area of ??Wenzhou. Premier Wen Jiabao's recent research on the occasion of Wenzhou, Zhejiang Province, Wenzhou City, two levels of government again draw. Wen Jiabao have given a positive response, accompanied by officials to give prompt attention to the scene, "you can study it further."

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