Break through the "blocking point" of capital flow, help hundreds of millions of market players to overcome difficulties

  The current "blocking point" of capital flow: First, it is difficult for small and medium-sized enterprises to finance, and second, the core enterprises occupy the funds of upstream and downstream small and medium-sized enterprises.


  Xiong Yibin, who opened a hotel in Beijing, is currently running around for rent. During the two sessions, the government work report "encourage various owners to reduce or reduce rents and give policy support", let him see hope.

  Previously, only one of the restaurants he managed was back in business. In the past, the lively scene of the meal was gone, and the monthly rent pressure of nearly 200,000 yuan made them breathless. He very much hoped that the government would introduce some specific measures to make the landlord willing to reduce part of the rent.

  Affected by the new coronary pneumonia epidemic, many companies are in trouble. To this end, the government work report stated that "to protect employment and people's livelihood, we must stabilize hundreds of millions of market players and try our best to help enterprises, especially small, medium and micro enterprises, and individual industrial and commercial households overcome difficulties," which gives hope to SMEs in trouble. .

Set up a bail-out fund to ease the financial pressure on SMEs

  The signed order was cancelled, the outgoing goods were rejected by the customer, and the sales payment due was postponed ... Under the epidemic, the various conditions encountered by the enterprise finally pointed to a result-tight cash flow.

  In early February, Fang Yan, deputy chairman of the National People ’s Congress and vice president of the Shaanxi Provincial Lawyers Association, and her team members combed the documents issued by 52 provinces, municipalities, and regions across the country to support SMEs, and found that some provinces, municipalities, and regions mainly adopted downward adjustments in financing Loan interest rates, controlling integrated financing costs, or both are ways to reduce the financing costs of SMEs. For example, if the loan rate drops by 10 percentage points or the comprehensive financing cost is reduced by 0.5 percentage points, she feels that the reduction may have a limited stimulating effect on solving the problem of expensive financing for SMEs.

  In response to the financial difficulties of small and medium-sized enterprises, Fang Yan and other representatives proposed that a "Small and Medium-sized Enterprises Rescue Fund" should be established. Ouyang Zehua, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and the Sichuan Provincial Financial Supervision Administration, suggested that finances at all levels can be appropriately inclined to allocate available funds for capital injection, broaden the source of funds for temporary relief funds, and increase funds for state-owned enterprises and collective enterprises On the supply side, the non-governmental contribution of the temporary bail-out fund should be fully discounted by the finance.

  He believes that if the bail-out fund is of the inclusive nature of financial contributions, the standards must be strictly controlled to avoid adverse selection and moral hazard. The supervisory authority can issue a guiding opinion to clarify some basic principles and investment areas, and each provincial level should formulate standards according to its own situation. "Who should be rescued, what should be rescued, how to be rescued, the standard of rescue, and the combination of related tools should be disclosed as much as possible."

Some core enterprises occupy the funds of upstream and downstream SMEs

  Yang Liping, chief inspector of the China Banking and Insurance Regulatory Commission, pointed out that there is a need for a stable capital flow behind the resumption of industrial chain production, but there are currently two "blocking points" in the capital flow: one is that SMEs are difficult to finance and the other is occupied by core enterprises. Funds for small and medium-sized enterprises in the upstream and downstream.

  In response to the problem that core enterprises owe funds to upstream companies, Yang Liping believes that it is necessary to support the development of core enterprises in the industrial chain. Affected by the epidemic, core enterprises may encounter financial problems. They should encourage banks to increase liquidity support, support enterprises to issue bonds, and help stabilize their production and operations. When the core enterprise has the funds, if the upstream supplier has already delivered the goods to him, the core enterprise must pay the payment in cash or in real-time payment. "You can't pay for the payment with only one bill, or you can delay or postpone the payment. "

  Regarding downstream distributors, Yang Liping pointed out that after the core enterprises get the funds through the credit support provided by the bank, it is necessary to reduce the proportion of the advance payment to the downstream enterprises. "(Enterprise) has already received the money and can operate normally. Is n’t the advance payment not to make people pay 100% of the cash before delivery, which is a buffer for the cash flow and capital chain of downstream enterprises. "

  During the investigation, Jiang Liping, a member of the National Committee of the Chinese People's Political Consultative Conference and chairman of the Hubei Provincial Committee of the Taiwan League of Nations, learned that in 2019, an industrial enterprise in Hubei adopted the model of accounts receivable financing through docking with the People's Bank's account receivable financing service platform Distribute RMB 85.44 million of online receivables for upstream suppliers, which makes supplier funds return and the company's supply chain is more stable.

  "The advantage of this model is that companies do not need to use collateral assets to finance. Banks evaluate more the stability of production and operation of core companies and the stability of orders." In response to the increase in some companies' arrears during the epidemic, Jiang Liping believes that this This model is based on the premise of stable and healthy production, which is conducive to corporate financing and supply chain stability.

  China Youth Daily · China Youth Daily reporter Ning Di Source: China Youth Daily