Xinjiang'S Corporate Financing Is Expected To Take Hongkong.

In 2003, Xinjiang utilized foreign capital for 590 million US dollars, accounting for only 0.45% of the whole country, and the growth rate of foreign capital utilization was 3.5%, which was 23 percentage points lower than the national average.

A strong contrast between the two.

Xinjiang has a large number of enterprises looking for financing channels, and some companies even take risks and use private loans at a rate higher than 5.3% of bank loans.

The government of the autonomous region is actively looking for a way out for the financing of enterprises.

4 23, held in Urumqi on the day of the "mainland China and Hongkong and Macao Closer Economic Partnership Arrangement" (hereinafter referred to as CEPA) business opportunities promotion conference, is the government for the exchange of business and financial institutions to build a platform.

The purpose of this conference is to provide more opportunities for understanding and communication between Xinjiang and Hongkong.

At the conference, the financing of Xinjiang enterprises has become the most noticeable topic.

Xinjiang Bank of East Asia, the largest independent Chinese bank in Hongkong, has joined the CEPA business promotion conference.

BEA has been listed in Hongkong and has more pparency and flexibility in financial loans.

As an important financing channel for enterprises, the bank is the gateway for many enterprises to raise funds.

However, many requests and lengthy assessment procedures of mainland banks for corporate loans have increased the difficulty of loan demand for many enterprises.

The narrow business scope of banks also limits their own development.

Compared with mainland banks, Hongkong bank has obvious advantages in some aspects.

According to Sun Minjie of Bank of East Asia, real estate loan is the strength of Bank of East Asia. The 60% business of Bank of East Asia comes from real estate loans. The Bank of East Asia has a complete set of procedures for lending to Real Estate Company.

Because of the high cost of real estate development and the long repayment period, the financing problem has always been a bottleneck for Real Estate Company to face.

"The mainland banks are not allowed to lend their loans with land certificates, so the financing of real estate enterprises has always been a problem," said the chairman of the Security Bureau of the city's real estate development company.

But banks in Hongkong are more flexible in real estate mortgage loans, and we are considering whether we can make loans to the Bank of East Asia. "

There are many differences between the mainland bank and the Bank of Hongkong due to their political and economic differences.

The loan interest rate of small and medium-sized enterprises is generally higher than that of large enterprises. For this problem, Sun Minjie introduced that the Bank of East Asia will design a package of financing plans for the specific conditions of the mainland enterprises.

Because of the expected appreciation potential of the renminbi, more mainland enterprises have invested in the direction of foreign exchange loans.

The value of the Hong Kong dollar and the renminbi is even closer, so the Hong Kong dollar loan has become a more popular way in the near future.

Sun Minjie said: the minimum interest rate on Hong Kong dollar loans can be reduced to 1%, and no mainland bank has such a low interest rate.

The Bank of East Asia not only helps enterprises to finance, but also helps enterprises to reorganize their debts and reduce the cost of financing.

In this CEPA business promotion conference, Xinjiang enterprises have been in close contact with the Bank of East Asia.

Some well-known companies in Kroraina, such as the company of Xinjiang, Jinniu and Xiang Ping Industrial Company, have done business with the Bank of East Asia on the details of financing and other aspects.

Sun Minjie said very frankly: "Xinjiang enterprises should make full use of the good opportunities for the development of the western region, and we are willing to cooperate with the vast number of Xinjiang enterprises, and hope that the Bank of East Asia can become the first Hongkong bank to Xinjiang."

The demand of Hongkong listed companies is listed as another financing channel for enterprises. Listing is the dream of many enterprises.

Listing can not only solve corporate financing problems, but also enhance corporate image, improve corporate governance and increase brand influence.

But listing is not easy.

At present, there are more than 1000 companies waiting for listing audit in the SFC.

At the beginning of this year, the SFC has rejected the listing application of six listed companies in Xinjiang.

So far, no enterprise in Xinjiang has passed the approval of the IPC.

In this CEPA promotion conference, Lin Zhaorong, director of PWC Accounting Office of Hongkong, has introduced a warm discussion on how Xinjiang enterprises listed in Hongkong.

The net assets of Hongkong's main board must reach more than 4 hundred million, and the main business can be diversified.

Lin Zhaorong said.

According to Lin Zhaorong, the time for enterprises to go public in Hongkong is relatively short. Generally, they can be answered in 6 months to a year, and the cost is between 800-1200 yuan.

According to the reporter, the size of Xinjiang enterprises is generally small, so the GEM may be more realistic.

The requirements for gem in Hongkong are not very strict, and there is no strict requirement for asset liability ratio and large shareholder holding.

It is not as strong as the mainland policy to support or restrict certain industries.

Lin Zhaorong accepted an exclusive interview with the newspaper about some details.

Lin Zhaorong told reporters: "Hongkong gem has no high requirements for enterprises. It only requires the profits of enterprises in the last year to reach more than 10 million yuan.

But the most important thing is the sustainability of our business. This is the most important measure of our responsibility to investors. We value the future of the business more. "

The Hongkong stock exchange's requirements for financial authenticity are very strict. Enterprises must have two years of complete accounting information, and no false information can be found in the accounting materials. In order to ensure the sustainable operation ability of an enterprise, the shareholders can not make significant changes in the three years before the Hongkong gem.

The Hongkong stock exchange has no strict requirements on the scale of enterprise financing, and the main business of Hongkong gem must be single.

Lin Zhaorong introduced that most of the enterprises in the mainland were spin off, so in independent management and related pactions, Hongkong accounting firms are more concerned about the audit object.

The corporate governance of mainland enterprises is also a weakness for Hongkong listing.

According to the reporter, Xinjiang enterprises have a lot of requirements for listing, but most of the enterprises are limited liability companies.

Some company leaders do not know about the rules of listing, one of them is quite good, but in order to split some of their business listings, they have replaced large shareholders.

Mr. Lin said that two years ago, the main body of enterprises could not change.

He hopes that Xinjiang enterprises will make better use of CEPA and hope that more capital market people will understand Xinjiang enterprises.

Lin Zhaorong said.

The company must have a sound financial system and real financial vouchers, whether it is lending to Hongkong banks or going to Hong Kong.

This is the most important requirement for Hongkong's financial sector.

It seems that honest management is the most important issue for our enterprises.