Macro Regulation Should Pay More Attention To Small And Medium-Sized Enterprises Such As Shoe Enterprises

The original intention of the regulation policy is good, but to do a good job, we must consider the timing and effect of the policy implementation. Each department should not act independently when issuing control policies, and should pay attention to policy coordination. Because the superposition effect of policies may exceed the capacity of enterprises.

Since last year, in order to restrain the economy and prices from rising too fast and prevent the economy from ups and downs, various departments of the central government have successively introduced a series of macro-control measures. The macro-control has achieved certain results, which are highlighted in the following aspects: the trend of prices rising too fast has been controlled, the growth of foreign trade exports has slowed down, and fixed asset investment has fallen back, The pace of adjustment and optimization of industrial structure and export structure was accelerated, and the price of property market and stock market fell back. However, the negative effects of macro-control have also begun to emerge.

Macroeconomic regulation and economic adjustment always have to pay a certain cost and price. Different regions and industries have different responses and adaptations to macro-control. Compared with previous macro-control, this macro-control has a greater impact on the eastern coastal areas and small and medium-sized enterprises, and on traditional labor-intensive industries.

In the eastern coastal areas, the opening up was early and the dependence on foreign economy was high. The proportion of foreign-funded enterprises and private enterprises is relatively large. Among the foreign-funded enterprises, the majority are small and medium-sized enterprises of processing trade type, mainly labor-intensive industries. The products produced by these enterprises are mainly low-end products with low added value, single products, strong specialization, low technology level, and enterprises have no R&D capability, core technology and independent intellectual property rights, There is no independent brand, OEM, pricing power, bargaining power, market dominance, and market and technology monopoly. The huge enterprise cluster is only one link in the world manufacturing industry chain. It mainly relies on preferential policies and the price advantage of production factors, such as the comparative advantage of production costs formed by cheap labor, factory rent, land and cheap energy. The profit of enterprises is low, and the ability to resist risks is weak. Foreign investment is extremely unstable, there are a large number of foreign population, social management costs are high, environmental pollution is serious, power and water resources are scarce, and enterprise transformation and industrial upgrading are difficult. However, these enterprises have solved a large number of population employment and promoted social stability.

We know that SMEs are different from state-owned enterprises and central enterprises. They are completely market-oriented and are the most dynamic part of our economy. The excessively tight macro-control policy will do more harm to SMEs. However, regulation policies have limited impact on large multinational companies, state-owned enterprises and monopoly industries, because they have the ability to avoid risks or reflect their interest demands to the decision-making authorities. Whether it is the "one size fits all" regulation in the past or the "holding while holding" regulation in the present, SMEs are often the first to be injured.

Specifically, the impact of macro-control policies on SMEs is mainly reflected in the following aspects:

1、 The frequency, scope and strength of policy adjustment are rare in history. These policies involve monetary policies (such as RMB appreciation by a large margin, credit scale control, high-density and substantial increase in the statutory reserve ratio, deposit and loan interest rates, issuance of central bank bills, etc.), foreign trade policies (several reductions in export tax rebates), labor security policies (implementation of the new labor law, substantial increase in the employment costs of SMEs), The industrial transfer policy (implementing the system of transferring the actual account deposit for the export products of restricted processing trade), the environmental protection policy (improving the environmental protection standards and the safety and technical standards for export products), the fiscal and tax policy (collecting land use tax and property tax, and combining the income tax of Chinese and foreign enterprises), and other aspects, plus the rise in the price of raw materials, the decline of the export market and other adverse factors, The harsh policy environment has greatly squeezed the survival space of enterprises and increased the business risk of enterprises. SMEs generally believe that the deterioration of the business environment of enterprises is far more difficult than the Southeast Asian financial crisis and SARS period, which is the most difficult period in history.

2、 Multiple policies of multiple departments jointly act on enterprises in a short time, resulting in the superposition effect of policies: 1. These macro-control measures have different impacts on different enterprises. The impact on the industry is greater than on the scale of enterprises, that is, the impact on labor-intensive industries with low profit margins such as clothing, shoes, toys, furniture, plastic (14510, - 80.00, - 0.55%, bar) products and other enterprises is greater, and the impact on enterprises with high automation and high added value of products such as electromechanical, electronic and other enterprises is less; For example, they can transfer pricing and orders globally, take hedging measures to avoid exchange rate risk, and transfer the pressure of rising raw material prices through product price increases. For small and medium-sized enterprises, it is almost a disaster. Take export enterprises and foreign trade enterprises for example. It will take at least three months to six months from receiving orders to organizing the production of raw materials to delivery. However, the exchange rate loss caused by the rapid appreciation of the RMB can even completely eat up the profits, leading enterprises to dare not take orders again. Most of our enterprises have limited ability and means to manage exchange rate risk, and exchange rate losses can only be absorbed through profits.

2. For small and medium-sized enterprises, enterprises quickly die without the opportunity to adapt, breathe and transform. A large number of enterprises close down and move out. Due to the uncertainty of business operation, they lose confidence in the future. The trend of business owners fleeing is obvious. Social unrest factors surge, workers' mass petitions and unemployment increase. Grass roots governments are under great pressure.

3. The cultural quality of workers in most labor-intensive industries is low, and it is difficult to re employ after unemployment and to transform with enterprises, which makes them feel abandoned. It is easy to transfer the contradictions to the government and the policies issued by the government; However, a large number of macro-control policies have increased the operating costs of enterprises and increased the concern of business owners about policy risks. Although enterprises have taken some countermeasures, it is difficult for enterprises to achieve technological upgrading and industrial transformation due to lack of adjustment time, funds and policy support, Managers of small and medium-sized enterprises are generally pessimistic about the future prospects.

3、 Macro regulation pays less attention to the survival of small and medium-sized enterprises. The strength and direction of macro-control should always be based on economic statistics. But in practice, economic data is often difficult to accurately reflect the operation and survival of small enterprises. In terms of credit, banks mainly focus on large and medium-sized enterprises with strong borrowing capacity and management capacity. SMEs are often difficult to obtain funds due to financial irregularities and lack of qualified collateral. Therefore, credit data will not reflect the financing needs and operating conditions of SMEs. The data of the statistics department often take industrial enterprises above the designated size as the main objects of investigation and statistics. The defects in economic statistics lead to the fact that economic operation and macro-control rarely pay attention to the survival conditions of small and medium-sized enterprises, and the reflection on the economy has a certain lag, because it may be too late to adjust until the credit repayment problems of large and medium-sized enterprises occur. Due to the specialization and standardization of production division, there are generally dozens, hundreds and even thousands of small and medium-sized enterprises in the current large-scale manufacturing industry providing supporting products for them, thus forming an industrial circle with large manufacturing enterprises as the core. These enterprises have formed a symbiotic relationship of interdependence. After the financial problems of small and medium-sized enterprises, It will lead to the lengthening of parts supply and payment period for large enterprises, thus dragging down large enterprises.

Therefore, macro-control needs to pay more attention to the survival of SMEs.

It is necessary to rethink the target orientation of macro-control and monetary policy, and seek the best balance between economic growth and the goal of controlling inflation pressure. In the era of global integration, the endogenous defects of the international monetary system have led to the global liquidity surplus and the resulting high food prices, high oil prices and other international commodity prices. This trend indicates the end of the era of low inflation. In this era, we need to rethink the target orientation of macro-control and monetary policy, and seek the best balance between economic growth and the goal of controlling inflation pressure. If we overemphasize the commitments we have made and take low inflation as the control target, it will not only be difficult to achieve our goal, but also if we want to pursue the goal of low inflation unilaterally, we will inevitably implement overly tight monetary policies and related industrial policies, which will cause greater harm to China's real economy. Under the realistic domestic and international economic background, it is not only necessary but also feasible to moderately adjust the control target of inflation pressure.

Many control policies issued by the central government have good intentions, but to do a good job, we must consider the timing and effect of policy implementation. Each department should not act independently when issuing control policies, and should pay attention to policy coordination. Because the superposition effect of policies may cause over regulation, which exceeds the capacity of enterprises. Once an enterprise goes bankrupt and dies, it will be difficult for the government to take measures to rescue and restore it, which will cause greater social problems and contradictions. Industrial upgrading, adjustment and optimization also need to give enterprises a certain buffer period, and specific policy guidance and support policies are needed. At the same time, local governments should strengthen re employment training and guidance, and even give some economic compensation, so that people feel that the government is willing to share difficulties with enterprises and practitioners, and enterprises should build confidence and see hope.