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Probe into the sustainable development of a microfinance company

Microfinance company provided important for private funds into legitimate financial channels to solve our country's small and micro enterprises, "three agriculture", individual financing the forces nouvelles, played an active role in supporting local economic development. Meanwhile, rapid development of a microfinance company supervision are exposed is not perfect, the tax burden is too high, transformed rural Bank, difficult to access credit system lag, high operational risks issues affecting and restricting the sustainable development of a microfinance company. Therefore, adhere to the microfinance company service "sannong" and small micro-enterprise purposes on the basis of, and should increase policy support to microfinance companies, improving the relevant facilities, regulating financial markets, and to promote healthy and sustainable development of a microfinance company.
control problems of sustainable development of a microfinance company
(a) the supervision mechanism is not perfect, "regulatory" leads to lack of supervision. Small loans companies Finance Office, the people's Bank, banking, industry and commerce, taxation and other departments, because of the lack of coordination between the various, easy regulatory vacuum. Meanwhile, regulators MCC management paid more attention to approving registration, release management approach ", whatever", it is difficult for microfinance companies risks making timely and accurate judgments.
(b) unclear legal status, tax burden and operating costs were too high. One can not enjoy preferential taxes for financial enterprises. Financial institutions promulgated by the people's bank code code for micro-credit companies included in the scope of other financial institutions, but in fact, a microfinance company is acting as a business is engaged in financial business and do not enjoy the financial firms preferential tax. Second, not services "sannong" and small and micro enterprises preferential policies. As a service "San Nong" and new organizations for small and micro enterprises, microfinance companies in terms of taxes, income and so on do not enjoy relevant preferential policies, high operating costs and lower profitability.
(c) reforming high threshold, village Bank, the difficulties of conversion. First microfinance company "right to speak" passed. Interim provisions on the restructuring of the microfinance companies to set up village banks called microfinance company for conversion to a village or township Bank must be holding or the right to speak with the Bank, a negative impact on motivation of private capital. Second, flexible operation under load. Microfinance company restructured after the village Bank, in accordance with the standard procedures of the Bank loans, loss of "small, short, flat and fast" business advantages and characteristics.
(d) credit lagging, the debit and information asymmetry. Compare with formal financial institutions, microfinance companies to get some more credit rating is low, risk assessment more difficult clients. Because most microfinance company credit information have not access to the credit system, clients in credit activities of a microfinance company is not being collected to the credit database, increases the risk of a microfinance company control more difficult.
(v) is not standard in the financial markets, investment guarantee Corporation breaches running squeeze on living space of a microfinance company. According to incomplete statistics, Heilongjiang province-wide in many investment guarantee companies operating without a license. The investment guarantee corporation was mixed, playing the intermediary in the name of the company, secretly loans, to a large extent, squeeze the potential customer base of a microfinance company, disrupted the normal order in the financial markets.
(f) loans to focus on real estate lending risks are high. Microfinance company in Heilongjiang province nearly 50% loans into real estate and its upstream and downstream enterprises. In the context of the current real estate market depth adjustment, Enterprise capital chain tension or even break, unable to repay the loan, part of microfinance companies has formed close to 50% bad loans is an image called "Dun".
(VII) microfinance company financing, "mancang" operational risk is high. One is the willingness of bank financing. Microfinance companies to no more than two banking institutions into the net no more than 50% of the money. But in practice, banks in providing financing to microfinance company are numbered. Second, higher financing costs. Because they do not belong to financial institutions, microfinance companies can only use 5% to 6% of higher interest rates and financing, higher financing costs almost swallowed spreads microfinance company 1/3 space. A case study of Heilongjiang, the end of 2014, the province's micro-credit loans accounted for 87.1% of the total capital of the company, in a "mancang" running status. In times of economic downturn, low liquidity management and business risk.
(h) low level of internal control, risks exist. A neglect of internal management. Investigations revealed that most of the lending practices of a microfinance company in addition to simple processes, credit officers point out, there is no specific system of risk control and disposal, "stresses expansion instead of internal management" phenomenon is particularly prominent. Second, lending large amounts. Early development of microfinance companies, social acceptance is not high, the relationship between customer loans are concentrated, high risk, individual microcredit companies maximum loan has reached 30 million Yuan.
to promote healthy and sustainable development of a microfinance company
(a) improve the microfinance company consolidated supervision mechanism. One is to improve the regulatory system. In accordance with the "professional management, and comprehensive service" principle, to further improve the system of supervision of microfinance companies, financial Office, the people's Bank, China Banking Regulatory Commission and other departments of supervision and service responsibilities, resolutely put an end to "just, whatever". Second, increased supervision. Establish interconnection of micro-credit loans consolidated supervision by off-site and on-site inspections, such as for risk management, internal control and associated businesses such as trading operations to implement sustainable, dynamic tracking and monitoring.
(b) for small loan company to provide a more relaxed fiscal policy environment. Regulatory authorities should be clear as soon as possible a microfinance company legal status of non-banking financial institutions, which enjoy preferential taxation policies of similar financial institutions. Recommended reference national policies related to agriculture-related financial institutions such as the rural credit cooperatives, in terms of tax breaks, subsidies and other appropriate support. Bad debt losses of a microfinance company, approved by the competent tax authorities, when reporting corporate income tax credits or deductions are allowed.
(c) establish and improve micro-credit companies Association. At present, the limited size of a microfinance company, acceptance is not high, are not to the condition of village Bank reform. Through established micro-credit companies Association, on the one hand to consolidate the local microfinance companies, Association of microfinance companies to play "integration enhance trust" role, leading microfinance companies to strengthen self-regulation, laying the Foundation for transition to a rural Bank; the other hand can also strengthen communication and coordination between the microfinance companies, information sharing, reduce the borrowers of microfinance companies and information asymmetry.
(iv) accelerating microfinance companies access to Central Bank credit system. People's Bank should actively for microfinance companies to speed up access to the credit information system to provide basic technical support, appropriate cut MCC threshold into the credit system. Meanwhile urged microfinance companies to improve hardware and software conditions, meet approval standards, and strive to include all of a microfinance company credit system as soon as possible.
(v) regulate investment guarantee companies operating in financial markets. First, to clear the existing illegal operators. Led by the local government, organize relevant departments to thoroughly investigate its investment guarantees in the company's business model, business and operational risks, strictly implement the jurisdictional supervision responsibility system and curb the illegal operations of investment guarantee company. Second, formalize the guiding private capital development. Through active financing channels, and much folk debit and credit institutionalization into financial management within the specification for private operation.
(f) with market leading microfinance company service "San Nong" function. First, establishing the risk compensation fund. Establish small agricultural credit risk compensation fund financed by the Government, when farmers from agricultural systems risk default, compensation for the small loan company loan losses. Second is the "support small" combined with fiscal policy. According to microfinance company "agricultural, small" contribution to different levels of tax breaks and subsidies.
(g) widening the financing channels of small loan companies. One is to reduce the cost of financing. Interbank loans to small companies with financial institutions, loan qualification, and reduce the cost of micro-credit financing. Second, promoting micro-credit companies diversified financing channels. Through the appropriate micro-credit companies ' equity capital controls should be relaxed, increase share capital capital increase, encourage and guide non-State capital into microfinance.
(VIII) a sound internal control system in order to reduce operational risk. One is to improve risk awareness of microfinance companies. Regulators microfinance company to establish an internal audit system, strengthen supervision and inspection of the implementation of internal control system. Second is to regulate microfinance company business processes. Micro-loan company loan officer and strict customs approval of the competent departments, review in the strict implementation of the pre-loan investigation, credit, credit checking system to avoid credit risks. Third, adhere to the "small, decentralized" principles to reduce the huge investment risk. Further strengthening the supervision and management of a microfinance company, strict implementation of the relevant provisions of the measures for the administration of a microfinance company in Heilongjiang province to ensure compliance management in accordance with law to prevent deviation from market positioning.
(I) the establishment of professional personnel. One is to do a professional talent pool. Guiding and introducing mechanism of gradual establishment of a microfinance company, senior financial management talents in reserve, attract high levels of financial theory and practical experience of professionals. Second, increase the intensity of a microfinance company training. Advise financial Office to invite financial managers, increase microfinance company senior management training, leading microfinance companies establishing and perfecting enterprise's financial accounting and internal control systems.

 

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