[Dow Jones] China Reform Forum and director Jiang Aiguo August 17 published an article that the current loan-sharking is spreading across the country,jordan shoes
, is due to a number of factors. To control the civil usury need to get to the root, fiscal policy the relay monetary policy to control inflation, while increasing private sector financial institutions straighten out. 2012,
, private lending in the original very popular in western Zhejiang, Shandong, Jiangsu, Inner Mongolia suddenly flourished, many towns have emerged a number of loan-sharking and civil society to raise funds based industry The security company, many people are involved, individual homes and businesses and even borrowed loan sharks to the brink of ruin. The relevant departments of the in-depth investigation showed that a number of loan-sharking activities behind clear the shadow of the bank credit funds; In some cases, banks or employees of state enterprises have even been profiteering attracted involved.
from the relevant material,ray ban
, the private borrowing rate is mostly in the 20% -50%, the majority of funds for lending from the illegal fund raising and corporate borrowing, Most of the funds flow to the manufacturing and real estate, but part of the funds into the stock, futures market, and a few into the civil gambling field.
usury in the country into a spreading, there are several reasons.
in recent years in some places the name of the legalization of private finance approved the establishment of a number of bonding companies, financial companies, farmers fund cooperatives,abercrombie and fitch
, farmers' credit unions and other institutions. Some of these institutions engaged in loan-sharking business, some loansharking and engaged in the financing business (such as the Subei SHEYANG region). It is reported that these institutions only registered in the Trade and Industry Bureau or by the agricultural population sector, local finance office for approval, not included in the central bank and the CBRC supervision. This informal, unregulated private financial legalization movement, sooner or later will give rise to greater financial risk.
the main tone of the banking reform in the past 7-8 years, their powers and centralized management. Appropriate powers, to strengthen the audit of the higher line the lower line of credit, this reform direction is right. However, the reform now completely deprived of the right of the county line credit approval practices, it is inevitable some overkill. Coastal province of large state-owned banks, for example, the highest and city branches of the right to credit approval only 700 million the county line you have no right to credit approval. Doing so will result in the banks' lack of county financial support led to the tensions of credit funds,polo ralph lauren
, and provides a comfortable financial environment for the expansion of the civil usury. third bank credit funds of the
excessive concentration in real estate and financing platform for the company,lunettes ray ban
, the former direct loans accounted for a proportion of total banking credit of up to 20%, which is also up to 26% (plus the Ministry of Railways ). This will inevitably contribute to the expansion of the virtual economy and local government investment impulse, squeezing the credit needs of the manufacturing, services, forcing the SMEs to have to turn to private lending.
Fourth, China has been implemented since early 2010,supra shoes
, credit ceilings, and 12 times in a row raised the deposit reserve ratio. The statutory reserve ratio was raised to the historical high of 21.5 percent, a full 8.5 percentage points higher than before 1990 to create a historical high. Blindly increase market supply of funds will aggravate the tension played a role in fueling the loansharking activities.
disorder in private lending tide
difficult to curb usury, SME financing problem. I think, first of all, the next phase of regulation, monetary policy should be to stabilize and calm observation-based. In response to the downward pressure on the coexistence of inflation and economic situation, fiscal policy should relay the monetary policy played a leading role. This includes enterprises,abercrombie
, especially SMEs appropriate tax cuts, lowering the export tax rebate and import tariffs, agriculture, price subsidies and CPI-linked, and the implementation of water conservancy construction and protection of the housing project. Such as prices continued to remain high, moderate interest rate increase is still necessary, should also be synchronized to reduce the deposit reserve ratio, reducing the scale of the central voting issue, in order to effectively alleviate the financial strain of. So nervous about the capital supply side, with the main tone of the prudent monetary policy is inconsistent with, more like a tight monetary policy. In the case of Sino-US interest rate spreads, we even have the need to maintain the RMB exchange rate basically stable,christian louboutin
, and the increase in price means the cost of hot money inflows.
to strengthen the cooperation of the central bank, China Banking Regulatory Commission and the Ministry of Public Security,jordan outlet
, to effectively combat illegal fund-raising, involving acts of illegal use of usury and usury areas of service delivery to pay underground banks for bank credit funds into.
to promote the economic support.
, adhere to the original real estate regulatory policy unswervingly guide prices moderate down to a further blow to investment buyers and usury demand.
with To this end, the central authorities should encourage local governments to the introduction of social capital or sell the cash source of investment projects and to repay outstanding bank loans; on the source of repayment of investment projects, local governments should also be through the sale of state-owned assets ways to resolve them. As long as the bank loanable funds to increase the difficult problem of SME borrowers will get the corresponding mitigation.
not originally included in the financial scope of regulation, involving the private sector financial institutions for deposit and loan business, it should be led by the CBRC local governments with clean up, straighten out. Meet the qualifications,ralph lauren
, management practices, not involved in illegal activities can be allowed in the financial regulatory authorities to re-register to continue to operate within prescribed limits. Regular small loan companies, the CBRC also should be appropriate to relax the requirements of its financing from the bank.
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