Zhejiang Wenzhou Takes Measures To Deal With Debt Crisis Of Small And Medium Sized Enterprises

The Wenzhou municipal Party committee and the municipal government are facing the disappearance of many business owners.

In the face of the current severe situation, Wenzhou and county level two have rapidly established comprehensive coordination mechanisms and special working groups, deploying strengthening measures and taking measures simultaneously, making full use of administrative, financial and legal means to rapidly carry out risk investigation activities.

Policies and measures should be introduced to increase financial support, help enterprises, judicial mediation, early warning of risks, and disposal of bankrupt enterprises.

We must resolutely crack down on illegal acts such as evil forces and malicious wages.

At the same time, we should intensify propaganda and guidance, strengthen credibility building, safeguard social fairness and justice, and ensure social harmony and stability.

In September 28th, the Wenzhou municipal Party committee and municipal government issued the "opinions on stabilizing and standardizing financial order and promoting economic pformation and development", requiring all banking institutions to increase the protection of credit funds so as to ensure that the target of 100 billion yuan in new loans was achieved at the beginning of the year.

The "opinion" also requires banks to increase credit funds for small and medium enterprises to ensure that the growth rate of small business loans is higher than the average growth rate of loans.

From now on, banking institutions should implement preferential interest rate policies according to the different credit rating of enterprises, and loan interest rates should not exceed 30%.

At the same time, a loan enterprise must not be forced to purchase financial products, and shall not be linked to the deposit of the enterprise.

Standardize and enlarge the off balance sheet credit.

For enterprises that are temporarily in financial difficulties, they can sponsor the actors, unite with other loan banks to carry out bailouts uniformly, and provide enterprises with financial support and support restructuring as far as possible.

Wenzhou city public inspection, the Law Society issued a "five strikes" notice: resolutely crack down on illegal activities such as violent debt collection, illegal detention, and resolutely crack down on illegal fund-raising and other illegal and criminal acts, resolutely crack down on malicious wage arrears and other illegal and criminal acts, deliberately disseminate false information, such as fabricating facts and disseminating information through the network and other media, or deliberately disseminate.