Network empowered notarization to solve the problem of corporate credit risk
Use science and technology to develop inclusive finance and effectively solve the financing problems of small and micro enterprises
□ Reporter Chen Lei
General Secretary Xi Jinping pointed out at a recent entrepreneurial forum to ensure that various relief measures reach the grassroots and directly benefit market players, strengthen financial support for market players, and develop inclusive finance.
Prior to this, Premier Li Keqiang pointed out when presiding over a symposium of economic situation experts and entrepreneurs that modern technology should be used to develop inclusive finance and effectively increase the amount of credit.
It is worth noting that since the outbreak of the new crown pneumonia epidemic, the Party Central Committee, the State Council, and the China Banking and Insurance Regulatory Commission have repeatedly requested the financial sector to simplify the process during the epidemic prevention and anti-epidemic period, shorten the decision-making chain, implement contactless services, and effectively solve the normalization of epidemic prevention and control. The problems of "short, small, frequent, urgent, and scattered" corporate financing have allowed the bottom and end of the economy to be moistened by the rain of financial services.
Experts interviewed by reporters from the "Rules of Law Daily" believe that as financial inclusion in our country enters a deeper stage, how to fully release the potential of this financial service model while actively preventing the credit risks that may arise thereafter has become A "multiple equation" that decision-makers and financial institutions are eager to solve.
Potential credit risk remains high
Dilemma in the development of inclusive finance
Currently, my country's economy maintains a stable recovery trend, but in the post-epidemic phase, the economy will face more tests.
A set of research data provided by Huaan Foresight Investment Consultants shows that in the first quarter of this year, the total operating income of A-share private listed companies fell by about 8.6% year-on-year, and the total net profit fell sharply by 28.7% year-on-year. Concomitantly, the risk of corporate debt default has increased simultaneously: in the first quarter of this year, the total interest coverage of A-share private listed companies fell to 2.88 times, of which more than 40% of companies were in a state of loss.
"Once the above-mentioned risks are exposed, it will ultimately be reflected in the non-performing rate of financial institutions." Huaan Foresight Investment Consultants believes that next, we must pay special attention to corporate credit risks and their impact on the real economy.
On the one hand, the potential credit risks of many companies, including listed companies, remain high, and on the other hand, the desire of the majority of companies for bank credit support is increasing day by day. Inclusive finance has indeed entered a dilemma in many places.
During the interview, the head of the Inclusive Finance Division of China Construction Bank stated that small and micro enterprises have small business scales and weak anti-risk capabilities. There are generally lack of information and credit problems, difficult customer identification, credit evaluation, and risk control. . "CCB has also been plagued by risk issues in its operations in the past, and the non-performing loan ratio was as high as 7% to 8%."
The relevant person in charge of China Construction Bank believes that when the bank implements the national development inclusive finance strategy and vigorously develops online financing services for small and micro enterprises, there are also problems due to the geographical dispersion of borrowers, small amounts, and large numbers of transactions. Financial risks such as borrowing but not repaying.
On August 25, Li Junfeng, director of the Inclusive Finance Department of the China Banking and Insurance Regulatory Commission, gave a figure that as of the end of June this year, the balance of loans to inclusive small and micro enterprises nationwide was 13.73 trillion yuan, a year-on-year increase of 28.4%. The number of households with loans was 23.633 million, an increase of 2.514 million from the beginning of the year. The interest rate of loans issued to small and micro enterprises in the first half of this year was 5.94%.
"How commercial banks do well in the risk management of small and micro enterprises has always been a challenging issue." Professor Guo Tianyong, director of the China Banking Research Center of the Central University of Finance and Economics, said in an interview with a reporter from the Rule of Law Daily.
In Guo Tianyong’s view, the “non-performing loan ratio” has always been a knot of banking institutions. If the knot of mutual trust between banks and enterprises cannot be resolved efficiently with the help of safe and reliable modern technology, the coverage of financial services and financial services It will be difficult to increase the frequency of use, and the actual effect of financial inclusion in the post-epidemic phase will also be greatly reduced.
Explore the network-enhanced notarization model
Solve the problem of difficult financing and expensive financing
From a realistic point of view, in the face of the financing difficulties of small and micro enterprises, many large banks do have the ambivalence of "unwilling to do, not to do, and dare not to do".
But there are exceptions. Tian Guoli, Chairman of China Construction Bank, recently attended the Asian Inclusive Finance Ecological Construction and Digital Development Online Roundtable, and said that China Construction Bank established inclusive finance as a bank-wide development strategy in 2018. Through big data mining, Artificial intelligence and cloud computing have enabled financial technology to empower inclusive finance, which has produced a fission effect on business models and processes.
The head of the Inclusive Finance Business Unit of China Construction Bank told the reporter of the Rule of Law Daily that as of May this year, the implementation of China Construction Bank’s inclusive finance development strategy has reached its second anniversary, and the growth rate of inclusive finance loans has exceeded the scheduled progress and increased year-on-year. The speed reached 55.4%. In fact, this proportion exceeds the quantitative target of "Inclusive small and micro enterprise loans growth faster than 40%" set for China Construction Bank in this year's Government Work Report.
What makes China Construction Bank dare to innovate boldly in the implementation of inclusive finance?
In Tian Guoli's view, the development of inclusive finance and the promotion of fair and effective allocation of financial resources should become the consensus of all parties to resolve the plight of small and micro enterprises and support the development of small and micro enterprises. The solution of this problem is the foundation and foundation of the country's long-term stability.
According to reports, in the past, China Construction Bank added only 10 billion to 20 billion yuan in loans to small and micro enterprises each year, with less than 10,000 new loan customers, and a non-performing loan ratio of 7% to 8%. In 2018 and 2019, China Construction Bank's new small and micro enterprise loans exceeded 200 billion yuan and 300 billion yuan respectively. In March 2020, China Construction Bank became the country's first inclusive small and micro enterprise loan balance to exceed one trillion yuan of commercial banks, and the new model's NPL ratio was controlled within 1%.
The Industrial and Commercial Bank of China has also tasted the sweetness of the "inclusive finance online small and micro lending + network-enforced notarization" model in practice.
It is understood that in November 2019, the Industrial and Commercial Bank of China applied for online notarization for its inclusive finance "quick loan operation" business. Judging from the actual operation in the past year, this model has played an important role in serving the development of the financial industry, preventing Internet financial disputes, and preventing financial risks. It has solved the problem of difficult and expensive financing for a large number of small and micro enterprises. No overdue breach of contract occurred.
Combination of blockchain and strong notarization
Create a good inclusive financial ecology
The exploration of China Construction Bank and Industrial and Commercial Bank of China in the field of inclusive finance has become a typical case of “elephant can dance” recognized by the market. Behind this is the cross-validation of multi-dimensional information such as combined market supervision, taxation, and electricity. Small and micro enterprises conduct three-dimensional holographic portraits, collect all kinds of information at the same time, and establish a negative list.
"As long as small and micro enterprises are not on the negative list, they can approve loans. The scale effect is achieved, and the non-performing rate is better controlled." Tian Guoli said.
"In essence, this is to use the network strong notarization system to provide online synchronization services for the network loan business, and to improve the judicial effectiveness of the network strong notarization electronic deposit certificate by introducing blockchain technology." A blockchain technology expert told the "Rules of Law Daily" "reporter.
The blockchain technology expert introduced that based on the significant features of blockchain technology that are unforgeable, traces throughout the process, collective maintenance, traceability, and openness and transparency, if major financial institutions actively rely on smart blockchains, they will respond Access to the notary office, Internet court, CA center and other consensus nodes with national credibility can form an efficient and credible credit-enhancing alliance, and it is entirely possible to effectively reduce credit risk. “This will help open up It lies in the knot of mutual trust between financial institutions and enterprises."
The reporter of the Rule of Law Daily noted that although various financial institutions have been actively solving the global problem of financing difficulties and high financing for small and micro enterprises in recent years, the ecological construction of inclusive finance still has a long way to go. .
In June 2019, the Supreme People's Court issued the "Opinions of the Supreme People's Court on Deepening Implementation Reform and Improving a Long-term Mechanism for Solving Enforcement Difficulties", which mentions the need to increase the application of new technologies represented by blockchain technology in the implementation business. And transformation.
In this regard, industry professionals believe that if the blockchain is combined with strong notarization, the "dual trust" of technical trust and notarization can be integrated, which will reduce financial disputes, prevent financial risks, maintain financial order, and create good financial credit. The ecology has practical significance.
At present, China Construction Bank has explored the combination of inclusive finance and blockchain technology in Beijing, Tianjin, Henan, Zhejiang, Guangdong and other places, and has provided clear ideas for solving the "multiple equation".
Related to this, at the end of June this year, Wenzhou City, Zhejiang Province launched the "Fuqiang Notarization Online Platform". Through pilot work in Shui'an Rural Commercial Bank, the implementation of a financial disputes and strong notarization online management model was used to prevent and resolve financial issues from the source. risk.
"The core of the restructuring of the financial regulatory framework is the legalization of regulatory technology." Li Aijun, dean of the Internet Finance Law Institute of China University of Political Science and Law, believes that the subversive changes of financial technology to the traditional model of inclusive finance are the general trend.
In Li Aijun's view, the network strong notarization can realize the pre-prevention of financial disputes, the management and control of loans, and the relief of post-loan disputes. Its innovative application has extremely important judicial sample value for the sound development of inclusive finance.