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Six Suggestions On Giving Full Play To The Role Of Private Capital In Wenzhou

2011/8/8 9:48:00 43

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Private Capital Plays A Role In Wenzhou

In Wenzhou,

private capital

Private finance, a private economy, is a chain that is cemented together.

Since reform and opening up, Wenzhou people rely on private capital with a per capita savings of only 8 yuan.

capital

And embark on the path of developing private economy.

Today, there are more than 30 private enterprises in Wenzhou. The number of private enterprises, industrial output, taxes and foreign trade exports account for 99%, 96%, 75% and 95% of the city's total respectively.

So that Wenzhou people have accumulated huge capital.

Only through investment can capital be added to capital and become a real capital.

Over the years, the investment of private capital in various industries across the country has been particularly noticeable. In 2001, the Wenzhou group began to buy houses in Shanghai and Hangzhou. In 2002, the energy shortage in the country, the soaring coal prices, Wenzhou's private assets went to Shanxi, bought 60% of the coal mines in Shanxi province; in 2003, cotton production decreased and cotton prices rose; Wenzhou 3 billion private capital entered Xinjiang to buy cotton; 2006, commodity futures bull market, Wenzhou many private capital invested in non-ferrous metal minerals; 2007, oil prices rose, and 5 billion of the private capital went into the west to buy oil wells.

Interest in Vc firms and fund projects has been strong these years.

It is worth noting that all of these investments rely on private financing.

financing

There are many forms of private financing in Wenzhou: first, borrowing between friends and family, mainly from the initial stage of private and private enterprises, characterized by small scale, small amount, moderate interest rate, and universality; two, Wenzhou's folk financing is a traditional practice called "Cheng Hui", which is initiated by the entrepreneurs who need money urgently, and the membership system is implemented among friends and family members, which not only solves the problem of shortage of venture capital, but also increases the interest of the raised funds, and has a certain value added.

This way of financing can be called the embryonic form of venture capital.

Just because most of the people in Wenzhou are empty and do not have much savings, the "Cheng Hui" (investors) are mostly people with special connections, so they can not be large scale, not professional investment companies.

But this kind of financing can be regarded as a cultural origin of the development of venture capital industry.

The three is to borrow money from private banks or pawnshops, mainly due to temporary difficulties in capital turnover and urgent demand, but the borrowing period is short and interest rates are relatively high.

The four is to borrow from the Credit Guarantee Corporation.

Credit Guarantee Corporation is an intermediary agency for financing, which can not be directly financing according to formal business requirements. But in fact, most Guarantee corporation are operating direct financing business, which is an open secret.

The five is to borrow from small loan companies.

This is the most formal private financing channel at present. The pilot work has not been effective for two years, and has played a very good role.

The development and expansion of Wenzhou's private economy is inseparable from the support of private capital and private finance.

Not long ago, the Wenzhou central sub branch of the people's Bank of China sampled a sample of 30 small businesses and 28 individual businesses. The private financing of the small production enterprises accounted for 46.5% of the liquidity capital, and the private financing of the investment individual businesses accounted for 68% of the operating capital.

According to the relevant monitoring points of the Wenzhou banking regulatory bureau, the total amount of private lending in Wenzhou was 759 million 530 thousand yuan in the first 5 months of this year, an increase of 100 million yuan over the same period last year, an increase of 16.5%. The authorities concerned investigated more than 3000 small and medium-sized enterprises in Shuang Yu Town, Lucheng District, Wenzhou, and found that at the end of this year, the proportion of private lending increased by 5 percentage points at the end of 4 this year compared with the end of 2009.

Active private finance in Wenzhou plays an important role in Wenzhou's economic development. Some studies have found that about 30% of Wenzhou's annual GDP growth comes from the direct pull of private financial capital.

Because of the strong profitability and highly autonomy of private capital, there is a lot of blindness in the investment process, which increases the risk.

How to correctly guide private investment, give full play to the role of rich private capital and serve the pformation and upgrading of Wenzhou's economy is a major issue of common concern for the Wenzhou government and all Wenzhou people. For this reason, I suggest: first, conscientiously implement the new 36 spirit, and vigorously publicize the principles and policies of the CPC Central Committee and the State Council on encouraging, supporting and guiding the development of the non-public sector of the economy, and create a good public opinion atmosphere conducive to the healthy development of private capital investment.

Two, clean up and revise policies and regulations that are not conducive to the development of private investment and private enterprises, integrate the administrative examination and approval matters involving private investment management, simplify links, improve service efficiency, further clean up and standardize the charges related to enterprises, and effectively lighten the burden of private enterprises.

Three, we should launch a number of public bidding projects with large investment value and good projects from the eight new areas that encourage private capital investment in the new 36 to attract private capital to enter.

Four, we should give full play to the role of Wenzhou equity trading center, Wenzhou private investment service center, Wenshang investment alliance, various trade associations and other social intermediaries, so as to provide legal, policy, financial, financial, technological, management and information consultation and specific services for private investment.

Five, we should guide private capital to nurture industry and nurture the pformation and upgrading of Wenzhou's industries. We should set up "Wenzhou venture capital guiding fund" and "Wenzhou industrial investment guidance fund" as soon as possible, and allocate 42 kilograms to guide private capital to invest in industries or projects supported by the government.

Six, we need to effectively improve the soft environment of investment and guide investment in Wenzhou's capital to return home, so that private capital investment in Wenzhou is not only a real benefit, but also a reassuring, reassuring and reassuring.