Performance and harm of lack of financial credit
The lack of financial credit has destroyed the order, fairness and competitiveness of the financial market to a certain extent, which has caused many adverse effects on the financial development environment. China's financial industry is not worse than its international counterparts in establishing rules and regulations. What is lacking is a credit environment and credit culture that is understood, supported and finally implemented.
(A) lack of financial credit performance
_ There is a big gap between financial service commitment and actual work. Due to the lack of modern financial service awareness and credit marketing concept in some financial institutions and poor service awareness in some grassroots outlets, there is a big gap between financial services and commitments.
Second, the awareness of standardized and steady operation is relatively weak. In order to avoid auditing, finance and taxation and the supervision of the People's Bank of China, a few financial institutions artificially forged and tampered with accounting vouchers and account books, artificially adjusted accounting statements, and falsely reported and concealed their business performance, resulting in distortion of accounting information. In order to show their political achievements, individual financial institutions provide inaccurate data on assets and liabilities.
Third, a few institutions cannot strictly implement national policies. For example, a few commercial financial institutions' grassroots outlets are lax in settlement discipline, and they delay payment or refuse to pay without reason after the bill expires, which leads to the breach of bank acceptance bills. At the same time, credit funds illegally entered the stock market. Individual financial institutions arbitrarily relaxed conditions and illegally accepted and discounted commercial bills issued by enterprises without real trade background, resulting in some funds flowing into the stock market in violation of regulations.
(B) the reasons for the lack of financial credit
The more important reason for the lack of financial credit comes from the defects of the financial system. The development of finance needs a perfect financial credit system, and the mutual giving of credit needs the protection of corresponding laws and systems. This guarantee is embodied in the fact that when a person who doesn't keep his word harms the interests of others, he is punished more than his income. However, due to the imperfect credit system in China, breach of contract cannot be punished, and sometimes the cost is very small. This is equivalent to encouraging dishonest behavior.
The lack of basic credit management system in the financial field is also one of the reasons for the lack of integrity. Financial enterprises in China rarely set up special credit management departments or personnel, which easily leads to frequent defaults due to improper credit granting and lack of management of performance plans by credit granting enterprises, and they are deceived due to lack of understanding of the credit status of cooperative customers. At present, China's personal credit information is basically blank.
There is a general lack of basic credit risk control and management systems within enterprises. Credit management within an enterprise is an important part of financial management, including the management of accounts receivable and commodity sales, the investigation of the credit status of major customers, credit collection and management. This is a bridge between the financial department and various business departments, and it is also an effective mechanism for enterprises to screen customers and keep long-term contact with honest customers. However, there is a general lack of a sound credit risk management system within enterprises in China, which leads to the inability to perform contracts due to improper credit granting, and frequent incidents of default by credit granting enterprises due to lack of performance plan management; Due to the lack of understanding of customers' credit status, many enterprises have been deceived repeatedly, resulting in a large number of economic disputes and transaction losses. At the same time, due to the incomplete reform of the property right system of state-owned enterprises and the irregular internal governance structure, it is difficult to truly establish an enterprise credit management system.
The pace of credit legislation is slow. Due to the lack of a sound credit system and information circulation, even if the debtor has a bad record in Bank A, it will not affect his access to financing in Bank B. In this way, the benefits of debtor's default are often higher than the cost of default. At present, a large number of evaded bank debts are related to this. In contrast, the default rate of western developed countries with relatively perfect credit information systems is low. The lack of a perfect credit information system has seriously affected the operating costs of commercial institutions. From the perspective of financial practice, China's commercial banks lack effective means to assess the risk of customers, especially individual customers, which has become a "bottleneck" for the further healthy development of credit business. Taking personal consumption loans as an example, China Merchants Bank's personal consumption loans account for about 65,438+02% of the total loans, which is already a high proportion in China's banking industry, but there is still a big gap compared with the proportion of 40% to 60% in developed countries in Europe and America. Under the premise of imperfect credit system, commercial banks in China can't fully grasp the borrowers' credit, and it will consume a lot of retail business to examine the lenders' credit one by one. Therefore, in quite a few cases, the interest income of loans is not enough to make up for the operating costs of enterprises.
(C) the harm of lack of financial credit
Lack of credit will increase financial risks. Credit is the basic way of credit. Due to the poor social credit environment, enterprises maliciously defraud loans and evade bank debts everywhere, which leads to the high non-performing loans of banks in China. The evasion of debts not only highlights the operational risks of banks in operating special commodities, but also makes the relationship between banks and enterprises tense and the capital chain between banks and enterprises broken.
The lack of credit leads to the decline of social atmosphere. The financial industry is directly or indirectly related to all aspects of society. The disorder of financial credit order not only has adverse effects on financial and economic life, but also has a series of adverse effects on social security and stability. The lack of financial credit increases the production cost and investment risk of enterprises, improves the uncertainty of investment expectation, makes enterprises lack confidence in the future development of social economy, and also weakens the investment confidence of enterprises and individuals, leading to the decline of investment and insufficient effective demand, thus forming a bottleneck constraint on the development of the whole national economy. The lack of financial credit has also plunged the lives of ordinary people into chaos, thus directly affecting the stability of the whole society and even leading to the occurrence of the whole economic crisis.
Thoughts on Perfecting the Financial Credit System
(1) The banking industry should strictly regulate its operations and take the lead in maintaining the credit order.
First, efforts should be made to improve service quality and establish and improve the integrity financial service system. With the transformation of banks into modern enterprises, on the one hand, banks, as enterprises, should also "honor contracts and keep promises" and make promises that must be fulfilled; On the other hand, it is necessary to improve the quality and level of banking services. The second is to establish a clean government management assessment system. The establishment of credit system requires banks to correct their management consciousness and behavior, abandon unreasonable assessment systems and indicators based on scale and total amount, strive to eliminate all kinds of factors that induce counterfeiting, and adhere to the principle of combining legal operation with steady operation. The third is to establish a disciplinary mechanism for dishonesty and a gain mechanism for trustworthiness. On the one hand, banks should continue to take disciplinary measures against enterprises that evade debts according to law, and strengthen compulsory compensation on the basis of implementing creditor's rights. On the other hand, by vigorously supporting the development of trustworthy enterprises, the credit awareness of enterprises and the whole society can be improved. The fourth is to establish an internal control system and work and business processes with risk prevention as the main content. This includes the authorized credit system for loans and foreign transaction payment, the distribution of financial results and the accounting system aimed at preventing risks. , and all business processes should be under the supervision of the system. Fifth, banks should play an important role in the credit system. It is necessary to speed up the pace and intensity of reform, introduce competition mechanism and bankruptcy mechanism, carry out joint-stock system reform, and clarify the subject of property rights and their powers and responsibilities; Deepen the reform of corporate governance structure of banks; After improving the internal governance structure, it will be listed in batches, and the internal incentive mechanism and risk restraint mechanism of banks will be strengthened by using the capital market to promote the development and growth of commercial banks as soon as possible in a good credit environment.
(2) Strengthen the external supervision of the central bank and enhance its service function.
First, strengthen the risk supervision of the People's Bank of China. We must strictly improve the regulatory laws and regulations to avoid institutional defects as much as possible. Strictly supervise according to law, strictly enforce the law, and those who violate the law will be prosecuted. Strict market access for institutions, the establishment of a set of institutional assessment system, the business volume, cost, economic benefits, capital or working capital, internal control system, the qualification of the main person in charge and other factors into this system, strengthen institutional business supervision, establish an equal competition mechanism, so that institutions can operate and develop legally and steadily within the prescribed business scope. Second, continue to play the role of the joint meeting of financial creditor's rights, severely crack down on all kinds of malicious evasion of bank debts, adhere to the system of regularly reporting the credit status of loan enterprises in the system, and strengthen supervision over the credit status of enterprises. Third, continue to intensify the pilot work of commercial acceptance bills, reconstruct a good relationship between banks and enterprises, let more enterprises fully realize that "credit is wealth" and "credit is intangible assets", and truly establish a win-win situation between banks and enterprises. Fourth, improve and enhance the functions of the bank credit registration and consultation system. Further improve the scientific and technological content of the credit information system, and constantly optimize and improve the system functions. Establish enterprise and personal credit information system. Supervise commercial banks to lend with loan cards and further establish and improve the repayment record system. Further enrich the information of borrowing enterprises, actively provide information services for financial institutions, and strengthen risk warning through internal notification.
(C) pay attention to practical results and improve the internal control mechanism of rural credit cooperatives
First, we should further establish and improve the credit management system and methods, establish strict examination and approval system and supervision and restriction mechanism, prevent the occurrence of "human loan" and "intervention loan", and effectively improve the quality of credit assets; Second, we should establish a risk early warning and forecasting system to effectively prevent and resolve financial risks, prevent financial turmoil, ensure the security and stability of rural economy and finance, establish the "credit" brand of rural credit cooperatives, and be a trustworthy model of rural credit environment; The third is to establish a high-quality service system that provides all-round services for the rural economy, properly handle the relationship between supporting local economic development and preventing financial risks, rebuild good credit relations with the government, enterprises and relevant departments in an active and effective credit operation, and jointly promote the fundamental improvement of the rural credit environment.
(4) Formulating, amending and perfecting the Law on Financial Credit Behavior.
Financial credit behavior law is a series of laws and regulations that regulate the behavior of market participants in the process of financial credit transactions, including social credit investigation law before credit transactions, credit control law during credit transactions and punishment law for dishonesty after credit transactions are completed.
Credit information law. Specifically, it is to establish enterprise credit system and personal credit system. Due to information asymmetry, financial institutions do not know the credit status of their counterparties in transactions, so they need the credit information of relevant enterprises and individuals to make decisions. The credit system of enterprises and individuals helps to reduce transaction costs, promote cooperation between banks and enterprises, and provide a good foundation for the establishment and improvement of the credit system of the whole country. At present, China's laws and regulations on credit information of enterprises and individuals are scattered in different departmental laws. It involves more than ten departments such as industry and commerce, public security, taxation, insurance, banks and courts. Therefore, there is an urgent need for a unified credit law to standardize the scope, procedures, dissemination methods, objects and time limit of credit information collection and investigation. In addition, we should also pay attention to the protection of enterprises, business secrets and personal privacy that may be touched in the credit investigation activities.
Credit control law. Credit transactions often involve time intervals, so it is easy to produce contract fraud, unfair competition and other behaviors. The purpose of credit control law is to warn and control possible illegal acts in the transaction process and plug loopholes from the source of the system. It is particularly noteworthy that with the rapid development of information technology, economic exchanges and financial transactions are more extensive, which accelerates the allocation and flow of resources and elements. The online virtual market conducts transactions by building relationships in virtual spaces. On the Internet, the financial credit relationship is being established in a wider scope, breaking through the geographical restrictions and gradually becoming a widely accepted code of conduct. Because the identities of the two parties in the virtual trading space are vague, the relationship between the trading subjects is multidimensional. Therefore, to prevent network financial fraud, it is urgent to institutionalize and legalize network financial credit management. At the same time, because network dispute is a new legal phenomenon, intellectual property law, tax law and advertising law also need to be revised and improved accordingly. It is necessary to establish online credit data and effective information transmission of trading behavior, so that financial institutions can know who has credit and who does not, and decide who to support and restrict according to this information.
Law on disciplinary action against dishonesty. Establishing a punishment mechanism for untrustworthy enterprises and individuals is a key link in the chain of financial credit system. The most effective measure to restrain all interest-oriented "economic man" is to seize the word "profit". Only through the interest-oriented incentive and restraint mechanism can the trustworthy behavior of enterprises and individuals be fundamentally activated. The disciplinary mechanism of dishonesty is essentially to increase the cost of dishonesty, so that market players can consciously choose to keep their promises after rational measurement. China's punishment for dishonesty has not yet formed a system. We should establish a whole set of disciplinary system for dishonesty as soon as possible, improve the evaluation mechanism of officials' performance, link the evaluation of officials' performance with the behavior of enterprises' evasion of debts and dishonesty, and fundamentally block the "interest-driven" of local performance evaluation.
In addition, it is necessary to improve the social supervision network and strengthen the social supervision of bank credit. Mainly to establish a reporting system to encourage all sectors of society to report violations of national financial policies. Strengthen information disclosure, improve transparency and strengthen market constraints. Give full play to the role of accounting, auditing firms and credit evaluation institutions, and entrust them to audit, inspect and evaluate financial institutions.