Artificially suppressing interest rates will reduce services to private enterprises.At the same time, will you cause new risks to the next step of financial institutions?These must be considered.To truly solve the problem of financing difficulties in private enterprises, we must first start with market -oriented ideas and let the market allocate financial resources. This is the first step.Huang Yiping, director of the Digital Financial Research Center of Peking University.
Huang Yiping made the above statement at the 2018 Global Fintech (Beijing) Summit held on November 17.Recently, saving private enterprises has become a trend. From the highest decision -making level to economic finance and other relevant departments, they have densely stated their states and launched various policies, such as the central bank's establishment of private enterprise bond financing support tools, the Ministry of Finance established the National Financing Guarantee Fund, the CBRC's ideaThe credit of private enterprises is launched one or two or five targets.
In this regard, Huang Yiping said that the aforementioned policy will alleviate the problem of financing difficulties in private enterprises in the short term; however, in order to solve the difficulty and expensive financing of private enterprises, it is necessary to solve it from four aspects.
First of all, you need to abandon administrative thinking and adhere to the strategy of marketization, including the risk pricing of interest rate marketization and marketization.
How much is required for bank loans? Under the existing system, it is estimated that it can be implemented, but not all banks can make the best business decisions?This is a problem.More importantly, interest rates cannot be marketized, which has exacerbated the problem of financing difficulties for private enterprises to a certain extent.Huang Yiping pointed out that risk pricing requires the cost of financing to cover risk.Therefore, interest rates should be market -oriented, and forced financial institutions to reduce financing costs will only reduce the enthusiasm of financial institutions and increase financial risks.
Secondly, Huang Yiping believes that it is necessary and understandable for some private enterprises currently provided by some private enterprises with liquidity risks.However, he also said that if you need to provide financing support and policy support for private enterprises, this responsibility should be handed over to the government, at least policy financial institutions.
Don't put this responsibility on the body of commercial financial institutions, it will not be clear in the future.The central bank and the Ministry of Finance have taken many measures. These measures can be further promoted, guarantee, financing support, discounting discounts, etc., but the responsibility shall be borne by the government, not imposed to financial institutions.
Third, Huang Yiping said that it is a worldwide problem that private enterprises have difficulty in financing and expensive financing, and China has made a lot of useful attempts in this field, that is, soft information is offline, and online relying on big data.
Soft information, in addition to financial information before the loan, will also do a comprehensive understanding of entrepreneurs' character and knowledge level. Typical, such as Nanxun Bank of Jiangsu and Zhejiang, and Tyron Bank; online can be reduced through the mobile terminal.The cost of obtaining customer acquisition uses big data analysis to make risk control; typical, such as Xinwang, Internet merchants and Weizhong Bank.
Finally, Huang Yiping also said that the regulatory authorities should strongly support market -oriented, serving private enterprises, and controllable financial innovation.■
