The paper news: Former Vice President of the Bank of China: The development of commercial factoring can reduce the financing of small and medium-sized enterprises by usury
Release date: 2017-09-06
The Paper, March 31, 2017 news small and medium-sized enterprises financing difficulties, large enterprises high debt and high leverage is the current dilemma of China's economy。Some small and medium-sized enterprises even borrow "usury" financing, and finally lead to a tragedy。On March 30, Zhang Yanling, former Vice president of the Bank of China and senior researcher of Chongyang Institute for Financial Studies of Renmin University of China, spoke to the Paper news at the "Fifth China Commercial Factoring Industry Summit".thepaper.The development of commercial factoring, an innovative financing tool, can reduce the "usury" behavior of smes in financing。
今年国务院总理李克强所作的政府工作报告中强调，要疏通传导机制，促进金融资源更多流向实体经济，特别是支持“三农”和小微企业。
At this year's National Two Sessions press conference, Miao Wei, Minister of Industry and Information Technology, also said that although the problem of expensive financing of small and micro enterprises was alleviated to a certain extent last year, the problem of financing difficulties is still very prominent。Miao Wei said that the next step will be to work with the People's Bank of China to carry out a three-year special action on small and micro enterprise receivables financing, guiding large enterprises to actively confirm the amount of arrears to small and micro enterprises and facilitating small and micro enterprises to finance accounts receivable。
As Miao Wei said, many small and medium-sized enterprises have occupied a large amount of working capital by accounts receivable, resulting in a tight capital chain。Due to the relatively short establishment time and other problems, financing in traditional financial institutions such as banks is also more difficult。
How to accurately and low-cost funds to small and medium-sized enterprises, how to revitalize the rising accounts receivable to provide cash flow for enterprises, reduce the leverage ratio of enterprises, and at the same time can effectively control various risks？
The Fifth (2017) China Commercial Factoring Industry Summit and the Fourth Yujiapu Factoring Forum, held in Tianjin Binhai New Area from March 29 to 31, presented the solution，Through the development of innovative financing tools - commercial factoring，Under the premise of effectively controlling risks, it can revitalize the rising accounts receivable assets of enterprises，At the same time, we will solve the problems of difficult and expensive financing for small and medium-sized enterprises and high leverage for large enterprises，And can promote the establishment of a sound business credit system。
The so-called commercial factoring is a trade financing tool in which the enterprise transfers the receivables generated by the contract to the factoring provider, and the factoring provider provides comprehensive financial services such as receivables financing, receivables management and collection, and credit risk management。The essence of commercial factoring is financing through accounts receivable。
The Forum released the "China Commercial Factoring Industry Development Report 2016"。According to statistics, in 2016, China's commercial factoring business volume exceeded 500 billion yuan, the financing amount exceeded 100 billion yuan, and more than 100,000 small and medium-sized enterprises were served。The report pointed out that it is expected that by the end of 2017, the national commercial factoring business volume is expected to reach 800 billion yuan, and the 13th Five-Year Plan will reach a trillion-dollar scale。
Wen Zaixing, former inspector of the Department of Market Order of the Ministry of Commerce, said that according to the data released by the National Bureau of Statistics, the receivables of industrial enterprises above designated size in 2011 were 7.03 trillion yuan, reaching 12 trillion yuan by the end of 2016.6 trillion yuan, a record high, an increase of 9.6%。"A large number of accounts receivable can not be recovered in time, resulting in higher and higher corporate debt ratio, greater and greater financial risk, may also cause the company's capital chain to break, bankruptcy, and some have no way to borrow usurious loans, many tragic cases occur every year, everyone has seen.。Wen Zaixing said, "Commercial factoring enterprises have become an important means to deleverage, reduce costs, and crack the financing difficulties and expensive financing of small and medium-sized enterprises.。”
Zhang Yanling, former vice president of the Bank of China, current executive director of ICC, senior researcher of Chongyang Institute for Advanced Studies, Renmin University of China, believes that factoring business will play a great role in the development of small and medium-sized enterprises, "From a global perspective, factoring business is getting more and more attention from governments and international organizations.。At present, factoring business has adapted to the needs of China's economic restructuring to support the real economy and solve the financing difficulties of small and medium-sized enterprises. The Chinese government has also begun to take a number of measures to continuously cultivate the soil for the development of domestic factoring business。In February 2016, the central bank, the National Development and Reform Commission and other eight ministries and commissions clearly proposed to vigorously develop accounts receivable financing, that is, factoring business, in a number of opinions on financial support for stable industrial growth, structural adjustment and efficiency increase。
Han Jiaping, director and secretary-general of the Commercial Factoring Committee of China Association of Trade in Services, believes that: "Although the commercial factoring industry has become a hot investment spot in recent years，The number of commercial factoring enterprises showed explosive growth，Various innovations and highlights appear frequently，But most companies are young，It's not officially in business yet，Those that have started are also smaller businesses，The industry as a whole is still in its infancy。Han Jiaping said that according to the data provided by commercial factoring associations around the country, the commercial factoring companies that have opened in the country account for about 20% of the registered enterprises, of which 90% are still in the initial stage, and only 10% of the enterprises have entered the growth stage。
Zhang Yanling feels the same way。她说，Although the number of registered commercial factoring companies in China is currently about 6,000，However, there are only about a thousand commercial factoring companies in operation，Among them, there are only 200-300 commercial factoring companies with good business development，This means，Just over 3% of commercial factoring companies are recognized by the market。
Qu Weixi, vice president of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, believes that from the perspective of the development of the commercial factoring industry in recent years, commercial factoring enterprises still face some problems。First, the recognition of commercial factoring market is not high, and it is difficult to carry out business;Second, the strength of shareholders is not strong, bank credit is tightened, Internet finance is rectified, the New third Board is blocked, and the threshold of asset securitization is high, resulting in poor financing channels and high capital costs。Third, credit resources are insufficient, credit system is imperfect, and risk control conditions are limited。Fourth, information exchange is not smooth, hindering cooperation between enterprises;There are other problems such as talent shortage, policies and regulations need to be further improved, especially in the ability to serve small and medium-sized enterprises。
