I. China Microfinance Forum for 60 People "China Microfinance Forum for 60 People" is an unofficial and non-profit academic research institution dedicated to the theory and practice of microfinance. With a forward-looking vision and a spirit of exploration, the forum consolidates the academic foundation of microfinance in China, explores the frontier topics in the field of microfinance, promotes the reform practice of microfinance industry in China, and contributes to the development and prosperity of inclusive finance, China.
Two. Alibaba Group, Ali Microfinance Services Group, announced on March 7, 20 13 that it was preparing to establish Ali Microfinance Services Group. The main business scope of Ali Microfinance Services Group includes payment, microfinance, insurance, guarantee and other fields. Through a platform of Alibaba, help small and micro enterprises realize species diversity, provide tools for online merchants, and support online merchants to face consumers; Through the small and micro financial services group, we provide countless small enterprises and consumers with various services they need, such as funds, payment and guarantee, to support their survival and development.
Peng Lei is the CEO of Microfinance Service Group. According to media reports, the company operation of Ali Microfinance Services Group comes from four aspects. First, it owns two small loan companies in Zhejiang and Chongqing, with a total registered capital of 654.38+0.6 billion yuan; The second is to finance banks; Third, asset securitization; Fourth, it will be open to more and more banks.
Previously, Ma Yun, Chairman of the Board of Directors of Alibaba Group, had expounded the three stages of Ali's future development: platform, finance and data. At the beginning of 20 13, Alibaba group was reorganized into 25 business groups, and the platform business was basically determined.
The establishment of Ali Microfinance Services Group means the beginning of the second phase. In this system, the most important concept is "credit equals wealth", and "openness, transparency, responsibility, sharing and interaction" are the core values.
Ma Yun, Chairman of the Board of Directors of Alibaba Group, said: China does not need another financial company, but China lacks a financial service company that really focuses on serving small and micro enterprises. Some research reports show that since 20 14, the financial service demand of small and micro enterprises has changed, mainly in the double growth of financing demand and comprehensive financial service demand. Therefore, various financial institutions and financial institutions have laid out their own service models.
As a quasi-financial institution, commercial factoring has become a new way of micro-finance and financial services. Its role in effectively alleviating the financing difficulties of small and micro enterprises and supporting the development of the real economy has been understood and recognized, and a new round of accelerated development has begun. The commercial factoring mode initiated by CAD Wan Li to provide micro-financial services meets the requirements of the growth of financing and comprehensive financial services for small and micro enterprises, and also embodies its dedicated, professional, batch and standard service concept.
Key points: the service target group is positioned as small and micro enterprises with POS cash registers to serve the real economy; Batch: The application of modern information technology and big data technology reduces the deviation and tedious process of manual audit operation, reduces the service cost, processes information data in batches and provides services in batches; Standard: Make the service into a standard product. The whole service process is like a factory assembly line, and all links are executed according to standard operations to form standard services.
2. What are microfinance, microfinance and SME finance?
Microfinance: mainly refers to the activities of providing small sustainable financial products and services for small and micro enterprises and low-and middle-income classes.
Microfinance: it is a financial service system specially established for poor low-income people and micro-enterprises. Include micro-credit, savings, remittance and micro-insurance.
Small and medium-sized enterprise finance: refers to customized financing solutions launched by financial institutions for small and medium-sized enterprises. Existing enterprises raise funds to complete the project investment and construction. No matter before or after the completion of the project, there will be no new independent legal person. Debt funds such as loans are actually used for project investment, but the debtor is a company rather than a project, and the cash flow and assets of the whole company can be used to repay debts and provide guarantees; In other words, the creditor has full recourse to the debt, and even if the project fails, the company must repay the loan, so the risk of the loan is relatively low.
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3. The characteristics of microfinance
Two characteristics of microfinance:
One is for small and micro enterprises and poor or low-and middle-income groups.
Second, because of the particularity of customers, there will be financial products and services suitable for such specific target customers.
Small and micro enterprise finance has the characteristics of high risk and high return;
High risk and insufficient collateral make the financing of small and micro enterprises rely on the personal credit of business owners most of the time. In addition, the strong uncertainty of small and micro enterprises is also the main risk source of microfinance.
High-yield, in addition to the traditional risk premium, because the market is not open, the demand is far greater than the supply, and the policy premium of small loans is the source of excess income.
4. Microfinance development strategy
First, the development of micro-finance needs to formulate a more comprehensive financial development plan for small and micro enterprises and establish a multi-level and diversified financing mechanism for small and micro enterprises. We should not only pay attention to banking institutions, nor should financial support for small and micro enterprises be limited to credit.
Second, develop financial information services.
Third, formulate and improve differentiated regulatory policies.
Fourth, establish a more scientific and reasonable social risk sharing mechanism. In addition to commercial mechanism, we can also consider dispersing and compensating related risks through policy funds or securities banks. Finally, more scientific and reasonable fiscal and taxation policies should be formulated to support the financial business development of small and micro enterprises.
5. The origin and development of microfinance
Since 1970s, profound changes have taken place in microeconomics, involving many aspects, such as business philosophy, business subject, business mode and so on.
These changes have greatly expanded the development space of microfinance and brought about changes in microfinance. Specific performance in the following aspects: First, the expansion of service objects, generally refers to small and micro service objects. Everyone thinks of the poor, and many services are subsidies or financial expenditures.
Therefore, institutions engaged in such services may be * * * institutions, at least quasi * * * institutions or institutions supported by * * * funds. However, the situation has changed. Microfinance also targets individuals or small businesses that may not be poor but still cannot obtain financial services from formal channels.
This change reveals the reality that it is difficult for the formal financial system to provide sustained and competitive services to these individuals and enterprises from the grassroots level, which means that the microfinance system has broad development space and demand. This is why all countries in the world are committed to developing and supporting microfinance.
Second, diversification of financial services In the past, when it came to microfinance, it was microfinance. But now, this concept has been greatly expanded, not only loans, but also value-added services such as equity services, capital services, deposits and insurance.
Third, diversification of business entities There are many types of institutions that operate microfinance, mainly including five categories, namely commercial banks, credit cooperatives, non-profit organizations, non-bank financial institutions and village banks, which basically cover all existing financial institutions. It should be pointed out that commercial banks are still the main force in terms of asset scale and the number of customers they serve.
Fourth, financial technology innovation The financial industry itself is an information industry, especially in the development of microfinance. In addition, China's economic development also provides a rare opportunity for the development of micro-credit.
On the one hand, China has reached a new stage of scientific development of the real economy, paying more attention to people's livelihood, employment and social harmony; On the other hand, with the development of the financial industry for so many years, it is difficult for commercial banks to rely on large enterprises as under the traditional system. As far as credit is concerned, the main service targets of banks can only and should be transferred to medium-sized enterprises and small and micro enterprises.
6. What is the meaning of microfinance?
Microfinance refers to providing finance for small and micro enterprises.
Small and micro enterprises refer to enterprises smaller than small and medium-sized enterprises, such as "individual industrial and commercial households". In China, small and micro enterprises account for more than 99% of the total number of enterprises. They have played a great role in activating the market, creating jobs, increasing taxes and maintaining social stability.
However, the threshold of bank loans in China is high, and loans for small and micro enterprises are urgent, small, frequent, risky and costly. Moreover, the financial policy is not enough to support small and micro enterprises, and the financing gap of small and micro enterprises is large. Financing difficulty has always been a bottleneck restricting the development of small and micro enterprises. Since 2009, the financing policy environment for small and micro enterprises has been continuously improved, and * * * departments and more and more banking financial institutions have begun to pay attention to financial services for small and micro enterprises, such as the "Commercial Loan Link", a small and micro financial product launched by Minsheng Bank, and the proportion of loans for small and micro enterprises has been continuously increased.
China's financial supervision policy, credit business tax and income tax all give preferential treatment and support to small and micro enterprises, creating a huge space for the development of small and micro finance.