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Chongqing perfect small loan company market exit mechanism

From now on, I, micro-credit in the business activities of the company appear in violation will be driven out of the market. On April 3, the commercial news reporters from the city's micro-loan company regulation working conference was informed that the pilot small loan companies has reached 263 for six years, the loan balance to 79.61 billion yuan. To maintain order and prevent financial risks, the city will establish micro-credit market withdrawal mechanism, this also means that violation "stepping on the red line" issues small loans will be eliminated. Inventory
6 year
total loans of 690.5 billion
since 2008 the first microfinance company of Chongqing after the establishment of micro-credit company Pratt in Chongqing has become a major financial power. From the city Finance Office, statistics show that by the end of 2014, the city's small loan companies raised a total of 263, loans accounted for 7.9%.
"micro-credit company's rapid growth in the number, full description of social investors, development of micro-credit, I was fully recognized. At present, small loan companies, I have become a useful complement to the formal financial institutions, support for small and micro enterprises, ' agriculture ' and County area economy development important strength. "Ruan Lu said the city Finance Office Director, the city's small loan company for 6 years, total loans of 690.5 billion yuan, average annual growth of 75.4%. From the perspective of services, flow of Commerce into the top 5 ranks for the industry, real estate, construction, manufacturing and agriculture, accounted for more than 60%.
has developed micro-credit and other five business model
, small loan companies, I not only develop rapidly, business innovation has made new breakthroughs. After Han Joaquin control listed in Hong Kong last year, Ali He Han China little credit successful innovation of asset securitization, asset securitization products are accelerating the collection. Meanwhile, I formation of micro-credit, micro-credit companies, chambers of Commerce, industry, banks and Internet financial 5 big business model, and the formation of 6 Internet small loan company, ranks number and loan volumes. The micro-credit asset quality is also very good, risks can be controlled.
"as the Central Bank has cut interest rates, we take the initiative to cut interest rates. On a few overdue repayment occurred due to objective reasons wishes a good customer, we without penalty, but interest rates were cut to benchmark interest rates twice, to help borrowers through. "Ming de Xiao Xiong Liming, Chairman of credit revealed that in times of economic downturn, the company profit model has been adjusted to" lower interest rates, increased leverage; reduce risk, improve quality ".

market withdrawal mechanism will be built, however, small loan company is developing rapidly at the same time, there have been quite a mixed bag on the market. It is understood that in order to achieve healthy development, the city will establish micro-credit industry market withdrawal mechanism.
"working on the exit mechanism is the development of small loans in order to purify the environment. "Ruan Lu said, the city's small loan company market exit system will be established, clearly defined exit criteria and modalities, advising small, poor management, weak shareholder replenishment initiatives by the bigger and stronger companies out of the market, supports the comparison of management specification, shareholder power gap, philosophy is not a unified company m, ordered a major illegal companies out of the market. In addition, the city will also play the role of micro-credit associations, punitive exploration industry self-regulatory measures, the micro-credit industry "blacklist", or executives of the company, the clerk after he was blacklisted, related businesses and personnel not involved in the industry in the future.

future credit rating substandard cancel financing business, credit rating does not meet the qualification of small loan companies will face cancellation of financing, could face a "cooking without the meter" awkwardness. Ruan Lu said, the city will continue to implement a classification regulation, a "distinction and merit support" on high supervision and credit ratings companies, ownership changes, capital increase and share, scope of business, financing, qualified market access priority. Supervisory ratings could not stay above grade, and credit ratings could not stay above 3 b company, cancel the financing business qualifications.