Ten Questions and Ten Answers 丨 Nine on the current economic situation: How to broaden the cash flow tight financing channels

Ji Wenlei, a trainee of Zhejiang News Client, Ji Wenlei

The current economic situation is extremely complicated, and the "triple pressure" superimposed "two major variables", unstable and uncertain factors significantly increased. How to think about the current economic trend, how to open the stuck card, how to help market entities more powerful ... In response to some hot issues in the current economic operation, reporters and experts and scholars who have long been concerned about Zhejiang economy for a long time have been discussed.

Resistance to weak risks and expensive financing are expensive, which is a common problem of small and medium -sized enterprises. Especially since this year, the downward pressure on the economy has increased, and the operational difficulties of small and medium -sized enterprises and tight funds have led to the increase in phased repayment pressure and insufficient "hematopoietic" ability.

How does the financial "living water" accurately "drip irrigation" small and medium -sized enterprises? The reporter interviewed Jin Xuejun, Executive Dean of the Provincial Special Expert and Executive Dean of the Public Policy Research Institute of Zhejiang University.

Reporter: What are the financial bailout policies?

Jin Xuejun: At this stage, banks have major financial resources. From the perspective of bank attributes, they are sensitive to risks and prefer strong asset mortgage and short -term credit. For the main body of the bailout market, financial institutions and related aspects can also start from the following 3 points.

The first is to do a good job of innovative measures. For example, in order to reduce the dependence on real estate mortgages, banks actively promote the financing business of real estate and rights pledge of inventory, accounts receivable, intellectual property rights, and further expand the financing channels of enterprises. However, if these businesses really land, all kinds of pledges must be "valuable and cities", so supporting measures such as fair prices and mature monetization channels recognized by third parties are essential; If the queue is "an accident, the guarantor must bear full responsibility and easily cause the guarantee chain problem. This requires the government, enterprises and banks to cooperate to promote the development of a dispersed combined guarantee mechanism.

The second is to optimize the financing structure. At present, the financial system depends on the indirect financing led by banks, and the period of use is relatively short, which leads to a higher cost of financing in the real economy, and the risk of capital chain and guarantee chain has increased. Therefore, financial institutions should expand the proportion of credit loans and medium- and long -term loans; promote the increase in the proportion of direct financing, especially corporate equity financing, often connect with physical projects, the income risk chain is clear, the period of use is longer, and capital can be increased. , Reduce liability ratio.

The third is to do a good job in the collaboration of financial resources. The demand for market entities is diverse. This requires financial institutions to do a good job of product innovation and product portfolio. In addition to credit business, it is necessary to promote the development of institutions such as investment, leasing, insurance, trust, etc. Provide targeted products and services, and form a financial industry chain that can provide enterprises with full industry chain services from the perspective of society.

Reporter: Under the premise of market laws, how to increase the wishes of financial institutions to serve small and micro enterprises?

Jin Xuejun: The number of small and micro enterprises is large and distributed, and the corresponding financial services cost is high. This is an important challenge in front of financial institutions.

First, improve the information interconnection sharing mechanism. The foundation of credit is information. Strengthen cross -departmental, cross -regional, and cross -level information interconnection sharing mechanisms, and concentrate, integrate and share credit information collected under the premise of legal compliance, and can more accurately evaluate the credit status of small and micro enterprises. This not only requires financial institutions to create related databases, but the entire society must also establish information brain libraries with strong inclusiveness, wide coverage, and timely information to help financial institutions legally and fully obtain information.

Second, excavate the potential of the supply chain of the industry chain. The characteristics of small and micro enterprises determine that its stability is related to its industrial chain supply chain status. Taking the industrial chain supply chain as the clue and starting point, financial institutions can not only exert the scale effect, but also dynamically grasp the development status and potential of small and micro enterprises, and focus on the number of small and micro enterprises to carry out logistics and capital flow identification. Then reduce service costs.

Third, a differentiated incentive policy. Relevant departments should launch corresponding support incentive policies based on reality. For example, the "investment and loan linkage" product that integrates equity investment and bank credit cannot be "one -size -fits -all" with traditional credit assessment methods, which are the differences between investment culture and credit culture; At the beginning of the start -up stage and relatively mature stage of the micro -enterprise industry, small and micro enterprises are in high -tech industries and traditional manufacturing or service industries, and the difference between uncertainty and risk is not small. some.

Reporter: At present, the risk of global economic stagflation risks has risen sharply. How do we view and deal with?

Jin Xuejun: Global stagflation risk has become consensus. To the outside world, stagflation exacerbates competition in the international market, especially the international trade field, and China will face new pressure on international market competition. Consumption may face a new impact. Under the premise of understanding the comparative advantages, toughness and potential of the Chinese economy, and maintaining full confidence, I think the following aspects are very important.

First of all, vigorously promote the construction of unified unified markets in the country and achieve new domestic and international double -loop development. From the perspective of economic basic market and epidemic prevention and control, China has a relatively advantageous advantage. Therefore, we must adhere to the strategy of opening up to the outside world and make open finance. At the same time, we must also recognize the impact brought by the external environment, promote the construction of a unified domestic market in the aspects of infrastructure, market system, and policy environment, and improve the development of dual -cycle. This has made new requirements for financial institutions. Secondly, multi -pronged approach play a combined policy role, and unblock the supply chain of the innovation chain industry chain. All kinds of policies and measures should fully consider the actual situation of market entities in various regions at all stages, accurately impose policies, focus on effective results, and at the same time do well -in coordination between policies. Financial institutions must pay special attention to industrial finance and supply chain finance; in digitalization In the promotion, science and technology finance, green finance, and inclusive finance will usher in new development, and also requires financial assistance to help the common prosperity.

Third, do a good job of preventing and controlling financial risks and actively play the role of international organizations. Finance is the main area of ​​global stagflation risk. In the context of rising global stagflation risks, it is necessary to make full preparations for prevention and control, build a timely and complete early warning system, response system, and resolution. It is necessary to strengthen international cooperation and play a coordination role through international organizations.

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