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Wenzhou'S New Model Or Saving China

2012/2/23 14:26:00 8

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Finance

When the industry is lagging behind and rigid, once the government begins to tighten money and credit, private SMEs can only choose usury to survive.

And real estate and government infrastructure can "occupy" the main.

credit

For many years, China's investment in "building cities and building houses" has cost 60-70% funds.

In 2011, there appeared a rare phenomenon of "competing for Huang Shiren" in China's financial history.

In 2011, it can be called China's usury year. So far, there have been many "private lending crashes".

Fujian

Guangdong

Henan

And so on, Guarantee Corporation appeared "crash crisis".

In 2012, Yang Bai Lao, who was forced to borrow money from usury, would be forced to make a choice.

The outcome will be Huang Shiren and Yang Bai Lao who are victims of this financial chaos.

In fact, behind the financial chaos is the backwardness of China's financial structure.

For example, at present, there are only 182 commercial banks in China, compared with 10000 in the United States, 2000 in Germany, more than 1100 in France, and over 400 in the United Kingdom and Spain, and even 590 in Ireland.

This also explains why Chinese banks earned more than 1 trillion last year, with a per capita income of more than 550 thousand yuan, while at the same time, only 3-5 yuan per capita in the real economy.

Finance

The backwardness of the pattern is also reflected in the fact that more than 85% of China's economic operation comes from bank credit, and the proportion of direct financing and equity financing is very low.

The proportion of bank credit funds, stock market financing and bond financing is extremely uncoordinated, which is also the biggest obstacle to the development of China's real economy.

The experience of China's reform and development in the past 30 years tells us that reform is always carried out in crisis.

Negative events are always the first driving force for reform, and the proactive reform will complete the whole process of reform.

Since 1995, there has been no major reform in the financial field, resulting in the accumulation of problems. Now, the financial sector must be changed.

The cost of active reform is less than that of passive reform, but the thoroughness of active reform is often less than passive reform under the forced mechanism.

But if the financial reform is bypassed, the cost will be far beyond the cost of financial reform.

Therefore, this year's introduction of the lender regulations and the general plan of Wenzhou comprehensive financial reform pilot area is very likely.

The introduction of the regulations and the plan will accelerate the trend of China's financial disintermediation.

The "good days" of banks are coming to an end, and the real economy and entrepreneurship will be delayed for many years.

At that time, bank credit funds, stock market and medium-term market will jointly support the development of China's real economy.

The new financial structure will be three parts of the stock market, bond market and bank credit, which will completely change the situation that China's economic operation funds are mainly based on bank credit.

The interest rate marketization that is widely concerned will also be "readily solved".

We see that the India financial industry, which is very similar to China's financial structure, has fully liberalized interest rate control in December last year, and realized the marketization of interest rates.

In fact, since last October, China has been debating and debating whether Wenzhou should be saved.

After the promulgation of the regulations and the plan, this discussion and debate will become a false proposition, and the true proposition will be how to save China in Wenzhou's new model.

We look forward to this day, and we believe that the day will come.