The capital chain is tight, small and medium-sized enterprises in Zhejiang and Guangdong have closed down, and the deposit reserve ratio has been raised for the sixth time this year. The central bank's purse is getting tighter and tighter. Is the money shortage really coming?
The report shows that small and medium-sized sanitary ware enterprises have indeed closed down in Zhejiang and Guangdong. The most interesting thing is that it has been confirmed by many parties that three well-known private enterprises in Wenzhou, Zhejiang Province closed down before, and the main reason for enterprises to flee was that they owed huge sums of money, which made small and medium-sized enterprises see the cruelty of today's market, and the discussion about "money shortage" and "bankruptcy tide" heated up sharply. According to the dean of the Research Institute of the Ministry of Commerce, the difficulty of enterprise loans has affected the normal operation of many small and medium-sized enterprises.
It is difficult for banks to borrow money, which is followed by the warming of private lending and rising interest rates. Small and medium-sized enterprises borrowed usury, and the failure of production and operation will inevitably lead to the break of the capital chain, and the bankruptcy of enterprises will become a matter of course. According to insiders, the root cause of this problem is that banks tighten credit, and the repeated increase of the deposit reserve ratio freezes a lot of funds of banks. It is understood that a large part of the funds of many private lending institutions come from banks. This year, the central bank raised the deposit reserve ratio six times in a row, and the deposit reserve ratio of large financial institutions reached a historical high of 2 1.5%, which led to the shortage of funds for banks and greatly restricted the sources of funds for private lending institutions.
As a commercial bank, profit is the foundation of their survival, which requires them to consider the cost. Small and medium-sized enterprises, due to their own nature, production scale, enterprise life, operating level, financial system and other factors, have greatly increased the risk and cost of bank lending. When interviewing the heads of relevant departments of financial institutions such as Xiamen Postal Savings and Rural Credit Cooperatives, the reporter learned that because the production, operation and management of small and medium-sized enterprises are not well monitored and the financial system is not perfect, some small and medium-sized enterprises can't even find standardized financial statements. In this case, the risk of banks is difficult to control and the cost will increase greatly. Therefore, most of them will take a more conservative attitude towards the loans of SMEs. Just like the debt flight of Wenzhou private enterprise bosses mentioned earlier, banks will be more cautious about lending to SMEs.
The increase in the deposit reserve and the tightening of the bank's money base do not mean that the bank has no money to lend, because commercial banks themselves want to make money, and lending is their due responsibility. If it makes a profit, it will definitely lend. The key problem lies in the particularity of small and medium-sized enterprises. Some small and medium-sized enterprises have insufficient assets and collateral, and banks are risky, so it is difficult to lend and raise funds. Although China advocates the comprehensive use of government subsidies, technology loans, capital markets, venture capital, issuing bonds and other ways to strengthen financing support for small and medium-sized enterprises, a perfect financing market for small and medium-sized enterprises has not yet been established.
In addition, recently, the reporter learned from the investigation and interview of sanitary ware producing areas and building materials markets all over the country that the rising costs of raw materials, labor, logistics and finance have led to the thinning of corporate profits, and many enterprises even suffered losses. Since the beginning of this year, the performance of terminal sales such as building materials market has also been very weak.
In this case, on the one hand, relatively low-end small and medium-sized enterprises, due to the increase of raw materials and labor costs, lead to higher production costs; On the other hand, the sales terminal can't support the production well, and the enterprise is bound to be unable to bear the operating pressure, so it faces the risk of bankruptcy.
The financing difficulty of small and medium-sized enterprises is a global problem, which is not unique to China. For banks, the risk of lending to small and medium-sized enterprises is very high in any country, and it is even higher in China.