Sample Research Report on Financial Market
In the society under our eyes, reports are not new to us, and its a certain skill in writing. So what kind of report is effective? The following is my carefully organized research report sample on the financial market, welcome to share.
Financial market research report 1
First, the current situation of the rural financial system
China's rural financial market, the actual total supply of financial resources is less than the actual total demand, the rural financial gap rate than the 57.8% in 1998 has declined, but to the end of 2002, the rural financial gap is still as high as However, by the end of 2002, the rural financial gap was still as high as 493.18 billion yuan, and the supply and demand could not be equalized.
(a) The great merger of financial institutions has led to the hollowing out of the rural financial system
Since the end of the 1990s, in order to meet the challenges of domestic and foreign banks, commercial banks, especially agricultural banks, have significantly accelerated the pace of building modern commercial banks. Operating a clear shift towards commercialization, it began to withdraw a large number of institutional outlets located in townships and tilted its lending towards large customers. This has not only led to a disruption of their financial services in the countryside, but has also resulted in a large amount of rural capital being diverted to the cities, making the role of commercial finance in supporting the rural economy weaker by the day. In fact, the rural financial sector is also a promising world, the rural financial market should not become a commercial financial dumping ground.
(B) the rural financial services function is weakened, financial products and services a single
First of all, although China has been operating for more than a decade of agricultural policy banks, but at this stage of the Agricultural Development Bank is backed by a single source of funding channels. The burden of non-performing assets heavy baggage, data show that the agricultural bank's non-performing loan ratio is higher than the level of non-performing loans of state-owned banks in the same period. At the present stage of China's rural areas, the most important loan demanders are, poor households, micro and small enterprises and leading enterprises. Improvement of infrastructure, promote agricultural extension and promote rural industrialization and urbanization and the resulting financial needs are urgent.
Secondly, there are major flaws in the system of rural credit unions. In recent years, the deposit and loan ratios of rural credit unions have always been lower than the average deposit and loan ratios of financial institutions nationwide (see Table 1). Moreover, the non-performing loan ratio of rural credit unions has been higher than that of other rural financial institutions in the same period. According to the statistics of Xianning City Central Branch of the People's Bank of China, before the replacement of the special central bank bills in the third quarter of 20xx, the non-performing loans of Xianning Rural Credit Union reached 362.83 million yuan, with a non-performing rate of 17.81%, and the balance of the non-performing loans still reached 104.57 million yuan, with a non-performing rate of 5.88%, after the replacement of the bills. As of the end of the second quarter of 20xx, non-performing loans rose again to 2012.09 million yuan, an increase of 96.72 million yuan from the time of replacement, and the non-performing rate was 9.28%, an increase of 3.4 percentage points from the time of replacement.
The deviation in the allocation of rural credit funds has caused the non-performing loans of rural credit unions to rise rather than fall. Although rural cooperative finance has achieved milestones through reforms in recent years, the operating conditions and asset quality of many rural credit unions have greatly improved. However, in order to strive for greater advantages in the future competitive field of rural finance, the reform of rural cooperative finance must also be in-depth.
4. Excessive and insufficient supervision and management of rural finance coexist. Borrowing in the total financing of the financier accounted for a disproportionately large proportion of the total financing, reaching more than 70%, the loan varieties are too single.
Again, the trend in recent years has shown that rural deposits account for the largest proportion of total financial resources compared to other resources. Securities and futures and foreign exchange and other capital market tentacles have not been extended to the countryside at all. Agricultural stocks and bonds account for only about 0.7% of total financial resources, and existing rural financial institutions cannot meet the growing consumer demand of farmers (see Table 2).
In short, the shrinking of the rural financial system and the lack of rural financial support for the three rural areas are not conducive to the harmonious development of urban and rural economies, and these will become a serious obstacle to the sustainable development of China's economy in the future.
Second, for the development of rural financial industry, put forward a few suggestions
(a) vigorously develop the rural economy, to achieve the overall balance of rural financial supply and financial demand
The economy determines the financial, there is no active market, the core role of the financial difficult to fully release. The insufficient transaction demand of rural economic subjects and the supply-based financial inhibition of the *** same role, ultimately leading to the phenomenon of lagging rural financial services. The problem of lagging rural financial services can only be fundamentally solved by creating more demand in supply and providing more supply in demand.
(B) the development of microfinance business, to make up for the rural financial loopholes
Rural areas have the most active soil of private lending, both farmers and rural economic organizations, are inseparable from the private lending, with the stable and sustained development of the economy in the past few years, the scale of the private private financing in the 8000-10,000 billion, completely uncontrollable state, it increases the probability of financial risk. It increases the probability of financial risks, only the private financial behavior into the normative track, in order to promote its healthy development. China's rural private finance is completely rooted in the rural soil, so the rural private finance should not simply take the suppression of the practice, which will make the private capital to low productivity self-financing.
We can't talk about rural finance without mentioning Yunus, the Bangladeshi banker who won the Nobel Peace Prize last year. He founded the Grameen Rural Bank, which specializes in providing microcredit without collateral to poor farmers, a model that has made an outstanding contribution to the development of global rural finance. China's rural microfinance business can learn from Yunus' model, which has been recognized by the international financial market. The development of rural private finance, on the one hand, to relax the entry threshold of banking financial institutions in rural areas, the development of village banks, loan companies and other new financial institutions. The Federal Bank of New York on the United States bank business situation research also shows that: the smaller the size of the bank, its small loans accounted for a greater proportion of the total loans, there have been a lot of overseas funds to enter the rural financial market. This is a major innovation in the development of rural finance, which can effectively promote competition in the existing financial services in rural areas and change the exclusive monopoly of rural credit unions. On the other hand, it is necessary to categorize and guide the various kinds of private finance, and to restrict and ban abnormal private financial activities. In this way, private finance can really become a useful supplement to institutional finance.
(C) so that agricultural policy banks to better serve the rural
1, the Agricultural Development Bank from a simple food bank into a truly comprehensive agricultural policy banks. Some data show that after the 1990s, the Industrial Bank of Korea focused on expanding the investment banking business, underwriting bonds, asset securitization and venture capital business, the formation of funds in the restructuring of enterprises and participation in the transformation of the privatization of the key role played by the policy banks to become a successful example of the market-oriented operation.
2. Allow the Agricultural Development Bank to gradually carry out intermediate and off-balance-sheet financial businesses such as consulting, project financing, and corporate mergers and acquisitions in addition to credit. In order to enhance its profitability and develop its sustainable development capability.
3. Establish and improve the risk management mechanism of loans and follow the basic principles of safe management of credit assets.
4. Developing financial investment varieties suitable for rural areas so as to balance the total amount of rural financial resources.
(1) carry out physical and real estate-based assets for mortgage business. At present, the system of agricultural banks and rural credit unions around the world can not adapt to the actual needs of agricultural insurance has not been pushed, the farmers need to produce and live in the loan is more difficult to ensure that the source of funds for agriculture and rural expansion of reproduction is difficult. Although agricultural banks and rural credit unions have vigorously launched microcredit operations for agricultural production materials, they have not yet been able to solve the problem at its root. The Government can start a rural housing mortgage business, and through the establishment and improvement of a mechanism for evaluating and mortgaging rural housing, the majority of farmers will be able to create conditions for financial institutions to increase their support for agricultural credit on the basis of the principle of legality and voluntariness. The establishment of a rural mortgage system requires: first, the state to develop a rural housing property registration system, based on clear property rights, the majority of farmers to issue home ownership certificates; second, the central bank to develop rural housing mortgage principles, policies and measures.
(2) To encourage the introduction of foreign rural finance in the financial varieties designed specifically for agriculture, the establishment of a moderately competitive rural financial market system. Adapt to the needs of agricultural and rural economic development, encourage various types of guarantee institutions for farmers and rural small and medium-sized enterprises to create an effective form of guarantee and ways; promote various types of financial institutions to vigorously develop the bulk agricultural futures market, to cultivate a certain number of institutional investors, expanding the trading scale of the futures market for agricultural products and liquidity, and to promote the healthy development of order agriculture; encourage the innovation of agricultural insurance products, and development of order agriculture The company also encourages insurance companies to explore the rural market and vigorously develop rural life insurance and property insurance.
Three, outlook
The Premier in the six tasks to speed up the reform of the financial system in the narrative of a **** there are 476 words, while the rural financial accounted for 193 words, visible in the future development of the financial industry in the rural financial will become a new bright spot. The new rural financial system is fundamentally different from the traditional system, which is determined by the trend of agricultural development. The demand for funds by modern rural economic agents is time-urgent and frequent, and the scale of funds is relatively small. The existing business processes of large financial institutions are simply not able to meet this need.
March 20, China Postal Savings Bank was officially inaugurated to farmers as the main object of service of the Postal Savings micro-business "good borrowing and good return" also began to be fully implemented in the country; March 16, with the establishment of the first in ethnic minority areas specializing in "three rural" loan business company opened. On March 16, with the opening of the first loan company specializing in "three rural areas" established in ethnic minority areas, China has 10 new rural financial institutions approved for opening. This is an innovation in deepening China's rural financial reform, which means that the rural financial market is officially open to all types of capital. They will provide convenient and fast financial services for customers in rural areas where the coverage of financial institutions is low and competition is insufficient to meet the continuously growing demand for capital in China's "three rural".
Accompanied by the formation of the Postal Savings Bank, Agricultural Bank of China and Agricultural Development Bank of China have also begun to re-emphasize the rural financial market; in accordance with the ideas of the CBRC, the reform of rural credit cooperatives to the county-level legal entity as a unit to maintain a long-term and stable pace of development; in particular, the village banks and rural cooperative banks in the beginning of the establishment of a pilot in the early xx, the entire rural financial market from the institution began to enter the Spring and Autumn era.
In short, in the different stages of rural market development, the relevant financial institutions should think about the problem from a deeper level. The process of reforming the rural financial industry and its inherent laws of development is a brand new challenge for both modern regulators and practitioners in China.
Financial market research report 2In accordance with the requirements of the municipal party committee and the municipal government, in April, our committee has deployed specialists to set up a research group on the development of small and medium-sized micro-enterprises and small and micro-enterprises financing to the cities (districts), key townships and townships, parks, as well as key enterprises to carry out investigative visits. The situation is reported as follows:
First, the city's small and micro-enterprise financing overall
1, small and micro-enterprise credit support has declined, and the gap between the needs of the development of enterprises than the gap is very far. 20xx at the end of the first quarter of the city's banking financial institutions, the balance of small and micro-enterprise loan 107.902 billion yuan, a decline of 463 million yuan, a decrease over the beginning of the year. 463 million yuan, year-on-year increase of 5.203 billion yuan, a decline of 0.43%, lower than the average increase in loans 4.91 percentage points, the overall increase in small and micro-enterprise loans did not complete the "not less than the same period last year, the increase is not less than the average increase in all loans," the goal.
2, small and micro-enterprise financing needs, private financing is exceptionally active. According to statistics, in the city of small and medium-sized enterprises in the financing structure, the enterprise's own and private funds and other endogenous financing accounted for about 60%. In the case of seeking loans, many small and medium-sized enterprises have turned to private financing, find ways to finance from, financial management companies, pawnshops and other institutions, and even at the expense of borrowing "usury, loan". Many small and medium-sized enterprises due to rising costs, lack of brand, lack of innovation and other reasons, the enterprise's profits are getting thinner and thinner, the industry is not profitable, they are out of the industry, to join the private investment industry.
Second, the current small and micro-enterprise financing of the main problems
1, small and micro-enterprise loan demand to meet the degree of low, narrow financing channels, a single model. The survey shows that only about 2.8% of industrial small businesses in Taizhou and the bank credit relationship, meaning that 100 small businesses in less than 3 successful loans from the bank, 97% of small business production and operation of the funds required by the way through the self-financing and private loans. At present, in addition to their own internal accumulation, external financing for the development of small enterprises is mainly dependent on loans from financial institutions. Banks provide small businesses with loans basically focused on working capital loans, rarely provide medium- and long-term credit, small businesses rely on friends and relatives to borrow or private financing for medium- and long-term development. In addition to the above channels, the surveyed enterprises have almost no other mature financing channels to obtain the much-needed development funds.
2. The cost of financing remains high. According to the survey, the problem of "expensive financing" is universal. From the point of view of private financing, microfinance companies are generally lending interest rates for the basic bank lending rate of 2-3 times, some higher, the enterprise actually have to pay an annual interest rate of 15-18%. Usually, the Internet financial products more than 20% annual interest rate, illegal private financing institutions, "usury, loan" annual interest rate of 30% or even 50% or more. From the credit financing point of view, although the city's various types of banking and financial institutions continue to innovate small business financial products, but small businesses from the banking and financial institutions to obtain funds 'cost is still very high, the overall cost of funds are generally between 8-13%. In addition, the survey found that some banks have forced additional additional business such as promissory notes, funds, insurance, etc., increasing the burden on enterprises. The comprehensive cost of loans for some enterprises was measured at 15-20%. We have selected four representative banks to measure the cost of enterprise financing. The measurement is based on an enterprise loan of 1 million yuan for a one-year period of mortgage (property and land) loans. (Benchmark interest rate of 6% per annum)
3, the financing gap is large, three types of small business financing is more difficult, part of the industry is affected by credit policy. At present, the city's large-scale enterprise financing oversupply, medium-sized enterprise financing scale is also more than the general business, the real loan is difficult, the gap is large small enterprises. Estimated according to the sales ratio method (external financing needs = increase in assets - natural increase in liabilities - increase in retained earnings), the city's small and medium-sized enterprises external financing needs of 120 billion yuan, the gap is still very large. According to the survey, the enterprises that can not borrow from the bank are mainly concentrated in three categories of enterprises: the first category, start-up enterprises, lack of collateral. The second category, the enterprise operation quality is not good. There is no core technology, no orders, the downward trend of enterprises is obvious. The third category, the national industrial policy restricts the development of, such as high energy consumption and high pollution. The city's traditional chemical, textile, stainless steel industry, due to high energy consumption and high emissions, become the national control credit industry. In the town of Xinghua Dinan sampling survey of 63 enterprises in 51 enterprises in urgent need of loans, accounting for 81% of the total number of enterprises, an average of 32 million yuan per enterprise financing needs.
4, the guarantee institutions and the bank cooperation is not good, the bank draw loan pressure loan phenomenon is prominent. Since last year, some of the state-owned and joint-stock commercial banks, to improve the access threshold of the cooperative guarantee company. Some only cooperate with state-owned guarantee companies above the municipal level, and some even suspend all cooperation with the guarantee company. Some banks have arbitrarily stopped guarantee business in the absence of defaults by guarantee companies, and some banks do not recognize the rating grades recommended by the People's Bank of China and the economic and credit departments in the cooperation between banks and guarantee companies. Some do not consult with the guarantee company, unilaterally reduce the magnification of the agreement, resulting in poor cooperation between guarantee institutions, especially private guarantee institutions and banks. Some commercial bank credit staff in order to make timely repayment of the enterprise commitment to renew the loan, to be repaid by the enterprise after the loan is no longer, resulting in many enterprises in capital constraints, at any time there is the possibility of breaking the chain.
In summary, in recent years, the city's small business financing environment in general continues to improve, various types of financial industry institutions, small business products have been strengthened, small and medium-sized enterprise credit guarantee institutions from the number, quality has also been improved, but the small business financing problem has not been fundamentally resolved. Cracking the small business financing problem is the economic and financial theory to explore the eternal subject, is a hot issue of concern to all sectors of society, is a difficult and long-term task, the city's small business financing work there is a lot of work to do.
Three, the next step in the work of the intention and recommendations
In accordance with the urban linkage, smooth the main road, improve the platform, multi-pronged thinking, we propose to carry out the work in the following ten areas, to alleviate the difficulties of urban small and medium-sized enterprises financing.
One is to carry out special inspection activities. Municipal Banking Supervision Bureau to lead the organization of banking financial institutions, "seven forbidden" special inspection, prohibit the deposit and loan linkage, prohibit unreasonable charges, prohibit the sale of financial products, and strictly prevent the misappropriation of loan funds or outflow. Municipal Finance Office, Economic and Information Commission, Commerce Bureau, respectively, small loan companies, guarantee companies, pawnbrokers and other industries to carry out special inspections of business norms, reduce financing costs, and effectively guard against the risks that may be triggered by the private capital, and actively play a positive role in solving the small and medium-sized enterprises, in particular small and micro-enterprises in the financing of the positive role.
The second is to improve the total amount of credit for small and micro enterprises. City People's Bank of China, the banking supervision department should seriously implement the People's Bank of China "on the opening of small re-lending to support the expansion of small and micro-enterprise credit injection notice" and the CBRC "on the 20xx small and micro-enterprise financial services work of the guiding opinions", increase the assessment, guidance, and supervise the commercial banks to increase the small and micro-enterprise credit investment, small and micro-enterprise loans, to achieve the "two not less than", to reverse the small and micro-enterprise loans, to achieve the "two not less than". The company's main business is to provide a wide range of financial services to small and medium-sized enterprises (SMEs), and to provide a wide range of financial services to SMEs.
Third, the establishment of urban small and medium-sized enterprise financing working capital. The districts financed by the municipal finance to give appropriate funding, in the districts to set up urban small and medium-sized enterprise financing working capital. Small and medium-sized enterprise financing working capital in accordance with the principle of government supervision, closed operation, independent accounting, for urban small and medium-sized enterprises to provide loan emergency bridge services.
Fourth, the organization of silver docking activities. Carry out a series of "financing services into the park, into the township, into the enterprise" activities, to the new commercial banks into Taizhou as the main body, make full use of the new commercial banks to expand the market enthusiasm and loan indicators, in-depth business services, financing services by focusing on the focus on the point of attention, from **** credit to the personalized service changes.
Fifth, the preparation of Taizhou "financial supermarket". Municipal Finance Office, Municipal People's Bank, Municipal Economic and Information Commission, Municipal Banking Supervision Bureau and other departments, *** with the establishment of urban small and medium-sized enterprise financing supermarkets, inviting industry, agriculture, China, construction, delivery and other banking financial institutions, financial guarantee companies, small loan companies, intermediary institutions stationed in the supermarkets, bimonthly market open once for the small and medium-sized enterprises to carry out financing docking services.
Sixth, strengthen the construction of the guarantee system. Promote the bank to strengthen cooperation, the organization of banks and guarantee companies to carry out thematic cooperation and exchange activities, guide the bank to preferential policies to the credit rating, risk control ability of the guarantee company tilt, reduce the access threshold of private guarantee companies. Actively make the single registered capital of large state-owned guarantee companies, improve the efficiency of using guarantee funds, and increase the magnification of guarantees. Actively guide financial and well-known enterprise funds to invest in the guarantee industry and increase the strength of state-owned backbone guarantee companies. The introduction of tax relief policies, the city's key backbone of the guarantee company's income tax local retained portion of the full refund.
Seven is to increase the enterprise listing, overseas financing efforts. To strengthen the publicity of the work of enterprise listing, overseas financing, and guide enterprises to change their mindset. To do a good job of mining and cultivation of resources to be listed, and constantly enrich the adjustment of the resource base of enterprises to be listed, the foundation of a good, high efficiency, good prospects for the development of enterprises in accordance with the requirements of the listing of the screening, to prepare for the listing of enterprises. Increase the training for enterprises to be listed. Organize the chairman and general manager of the enterprises to be listed to the overseas listed companies to study on-site, learn the experience and practices of advanced regions and specific ways to solve problems. Actively invite brokerage firms and other intermediaries to intervene to help listed companies to solve the technical problems encountered in the listing process.
Eight is to build a unified loan financing platform. City Economic and Information Commission to lead the application to the Export-Import Bank of China, in Hailing, Gao Gang, Jiangyan District, the establishment of a unified loan platform, the urban financial *** with the funding in accordance with the ratio of 1:10 to obtain the Provincial Export-Import Bank of small and medium-sized credit. The districts respectively choose a state-owned companies and agent banks as a unified loan business operating platform, the unified loan funds at a lower cost of loans issued to urban SMEs.
Nine is to further broaden the financing channels. Explore the development of enterprise technology patent rights, industrial property rights and other non-physical assets mortgage. To help enterprises through the pawn, equipment leasing and other channels for financing. Guide enterprises through asset reorganization, capital operation and other ways to carry out cross-regional, cross-industry, cross-ownership mergers and acquisitions, and promote capital flows and capital agglomeration.
Ten is to carry out financial services publicity activities. Municipal Economic and Information Commission of the joint banking supervision, taxation and other departments, the organization of the city's commercial banks, guarantee companies, in-depth characteristics of the park, industrial parks to carry out "send policy into the park" activities, publicity, promotion of small and medium-sized micro-enterprises featured financial products, industrial policies and support policies, to help enterprises to improve the level of policy, to broaden the knowledge of financing.
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