First, the problems existing in the development of rural credit cooperatives in China
(A) unclear property rights relations
The members of rural credit cooperatives are mainly farmers, but due to the limitation of educational level, farmers do not know enough about rural credit cooperatives and pay little attention to the general trend of finance. Their only concern is how much profit they can earn in the near future, and most farmers don't even know that they have rights in rural credit cooperatives, so the property rights of members can't be clear. Farmers' enthusiasm for attending the membership meeting is not high. At the same time, due to the lack of supervision of members and irregular operation of legal persons, lower-level rural credit cooperatives are under the jurisdiction of higher-level rural credit cooperatives, which weakens their right to operate independently to some extent.
(2) The historical burden is heavy
It is an undeniable fact that the rural credit cooperatives in China still bear a heavy historical burden until today. The main reasons are national policies, systems and self-management:
1. In terms of national policies, the preferential policies adopted by the state for rural credit cooperatives are often not in place. The expenses of rural credit cooperatives are entirely borne by themselves, and they have suffered serious losses several times. Moreover, the rural credit cooperatives have been in a passive state before, passively implementing the decisions of the central bank and lacking independent autonomy.
2. From the perspective of the national system, after the rural credit cooperatives were separated from the Agricultural Bank of China system, with the merger of the original urban credit cooperatives, the rural credit cooperatives were forced to accept some corporate loans that could not find borrowers, resulting in some funds not being recovered and accumulating a large number of non-performing loans.
3. From the aspect of rural credit cooperatives themselves, the brand of rural credit cooperatives is inherently insufficient. Due to the ownership relationship, management system, name signboard and payment risk of some small and medium-sized financial institutions, the credit rating of rural credit cooperatives has declined, and the business development has slowed down, which is easily affected by liquidation and bank runs of other small and medium-sized financial institutions and rural foundations, leading to payment risks.
(C) the management system is flawed
From their own point of view, farmers account for a large proportion of the members of rural credit cooperatives, but farmers are not particularly familiar with financial knowledge, so they are not very concerned about the members' meeting, and even if they are concerned, they cannot make reasonable suggestions. At the same time, internal supervision is very chaotic. According to the regulations, the directors and directors of rural credit cooperatives should be separated, but in fact, many directors and directors of rural credit cooperatives are not separated, but one person holds two positions, which is easy to form a dictatorship in management. In addition, the board of supervisors of rural credit cooperatives should supervise and manage the rural credit cooperatives, but the supervision and management of rural credit cooperatives is not in place, and the person in charge of the board of supervisors is generally the chairman. Most of the board of supervisors of rural credit cooperatives do not play a good role and lack understanding of the daily operation of rural credit cooperatives, so the board of supervisors is rarely held and the management of rural credit cooperatives is not perfect.
(D) Faced with loan risks
China is a big agricultural country, and the development of rural areas is related to the development of the whole country. Farmers need financial support to develop agriculture and economy. At present, farmers encounter financial difficulties and generally solve them through rural credit cooperatives. Farmers have limited economic strength, and rural credit cooperatives generally provide small loans. Because most of the lenders are farmers and small enterprises with poor operating conditions, the loan cost is relatively high.
In addition, do rural credit cooperatives still exist? Borrow new or old? The loan method with the highest proportion of non-performing loans and not easy to be detected is very risky. The main reasons for this risk are: first, the borrower does not meet the conditions and does not have enough funds to repay the loan principal and interest; Another situation is that the loan customer lacks the consciousness of voluntary repayment, and the loan does not repay when it expires. Rural credit cooperatives have to exchange new loans for old loans when they have to.
Two, to promote the development of rural credit cooperatives in China's rationalization proposals
(A) the establishment of a modern property rights system
At present, there are many disputes about the property right system of rural credit cooperatives in China, some think it is cooperative system, some think it is joint-stock system, and different people have different views. Establishing a modern property right system and implementing a legal person system with obvious levels, each level of legal person is an independent whole, earning profits and taking risks by itself will make the property right system of rural credit cooperatives clearer.
(two) the property rights system should be adapted to local conditions to prevent one size fits all.
China is a big agricultural country with a large rural population and obvious regional economic differences. Economic factors will affect the establishment of property rights system. We should establish different property rights systems according to the actual situation. The level of economic development between the eastern and western parts of China is very different, so different development models should be adopted. According to the local actual situation, we should adopt any model that is conducive to the development of agriculture, rural areas and farmers. In economically developed areas, we can learn from the development model of commercial banks, standardize the internal structure and management system, redistribute shares and reorganize shares, so as to make full use of assets and improve efficiency; In economically underdeveloped areas, we can standardize the operation on the basis of the original cooperative system, give full play to its advantages and make up for its shortcomings. At the same time, it also needs the government's strong support in manpower, material resources and financial resources to help rural credit cooperatives improve their own strength.
(C) establish and improve the management system of rural credit cooperatives
1, improve the governance structure
The success of cooperative finance in Germany is because they have established a set of management system suitable for their own market development on the basis of adhering to the principle of cooperation. They have well handled the relationship between the shareholders' meeting, the board of directors and the board of supervisors. They have both cooperation and constraints, and they have also formulated some policies and regulations to help the management of rural credit cooperatives, so that the management and operation of rural credit cooperatives have rules to follow and really provide financial support for rural development. However, the governance structure of our country only stays in the form, and the staff of various departments have not given full play to their respective responsibilities. It is suggested that China's rural credit cooperatives should learn from Germany's experience, improve the governance structure, implement democratic management, and put the responsibility on people. At the same time, it is necessary to formulate some corresponding articles of association to make the management of rural credit cooperatives more standardized, change management concepts, change management methods, improve internal control and achieve more effective management.
2. Improve the scientific and cultural quality of members.
Rural credit cooperatives mainly rely on attracting farmers' funds to maintain their operations, so farmers are an important part of their members, and rural credit cooperatives will hold membership meetings. As members, farmers don't know the financial knowledge and the operating conditions of rural credit cooperatives, and even if they attend the members' meeting, they can't make reasonable suggestions, which makes the members' meeting equivalent to a dead letter and has no practical significance. Therefore, we should popularize farmers' financial knowledge, publicize rural credit cooperatives, and make farmers pay more attention to the development of rural credit cooperatives. At the same time, members are encouraged to speak at the members' congress and put forward valuable opinions and suggestions for the development of rural credit cooperatives, so as to make the management of rural credit cooperatives more targeted and improve management efficiency.
3. Establish and improve the risk management system of rural credit cooperatives.
(1) Establish a credit insurance system.
The funds of rural credit cooperatives mainly come from farmers, which are small in quantity and low in quality, prone to financial risks, and also reduce people's credit to rural credit cooperatives. In order to improve people's confidence in rural credit cooperatives, it is necessary to learn from foreign countries to establish a credit guarantee system, manage those rural credit cooperatives that have suffered long-term losses, and go bankrupt and liquidate if necessary. However, it is necessary to protect farmers' deposits from infringement, reduce the losses of depositors and optimize the market environment of rural credit cooperatives. At the same time, let farmers know the importance of this system and enhance their understanding of financial risks. Because rural credit cooperatives are prone to capital shortage, it requires the state to participate in ensuring the capital supply of rural credit cooperatives, and the state as a strong backing makes the capital turnover of rural credit cooperatives more flexible and convenient. Only by establishing a rural credit insurance system in which the state participates can the fund security of rural credit cooperatives be truly guaranteed.
(2) Implementing hierarchical supervision.
The supervision objectives of rural credit cooperatives are the same as those of other banks, but the supervision methods are different. Other banks are supervised by the national financial supervision department, and rural credit cooperatives have their own particularity. If we want to develop new rural cooperative financial organizations, the supervision resources of rural credit cooperatives are insufficient, so we should carry out hierarchical supervision, and the higher authorities should supervise those large-scale capital loans to ensure the safety of large-scale loans. For those small loans, they are delegated to lower-level regulatory agencies for supervision and use, so hierarchical supervision can greatly improve supervision efficiency and prevent financial risks of rural credit cooperatives.
Through the research on the problems and solutions of rural credit cooperatives, we know that rural credit cooperatives in China are an important part of China's rural financial system. Most of the funds for rural development come from rural credit cooperatives, so the reform of rural credit cooperatives is very important for the development of agriculture in China. Although the reform of rural credit cooperatives in China has achieved certain results, there are still many shortcomings such as heavy historical burden, imperfect management system and insufficient government support. It seems that the reform task of rural credit cooperatives is still very arduous. Therefore, we need to actively learn from the successful experience of developed countries and make rural credit cooperatives better through our own efforts? Services for agriculture, countryside and farmers have a better future.
Financing problems and countermeasures of small and medium-sized enterprises in credit cooperatives Abstract: Since the reform and opening up, China's small and medium-sized enterprises have developed rapidly, playing an increasingly important role in regional economic development, increasing employment, alleviating employment pressure, realizing scientific and technological innovation and transferring achievements. However, most small and medium-sized enterprises are facing the problem of financing difficulties, which seriously hinders their development. This paper analyzes and studies the financing difficulties of small and medium-sized enterprises, and puts forward some countermeasures to solve the financing problems of small and medium-sized enterprises, such as establishing non-state-owned small and medium-sized financial institutions to serve them.
Keywords: small and medium-sized enterprises, financing, countermeasures Since the reform and opening up, China's small and medium-sized enterprises have developed rapidly. According to statistics, at present, China's small and medium-sized enterprises exceed100000, accounting for 99% of all registered enterprises in the country. The development of small and medium-sized enterprises plays an increasingly important role in ensuring the sustained and stable growth of the national economy, stimulating private investment, promoting regional development, increasing employment, relieving employment pressure, realizing scientific and technological innovation and transferring achievements. However, most small and medium-sized enterprises are facing the problem of financing difficulties, which seriously hinders their development.
First, China's SMEs financing status analysis
(A) SMEs lack of internal financing
Internal financing is an extremely important way for enterprises to obtain development funds. In mature market economy countries, profits, depreciation and other funds from enterprises usually account for 60% of the funds used by small and medium-sized enterprises. In China, according to the investigation of relevant departments, even in Wenzhou, where the private economy is relatively developed, the proportion of funds owned by small and medium-sized enterprises is only 40%, and bank loans and private loans account for 40% and 20% respectively.
(B) SME financing is still mainly indirect financing.
According to a recent survey by the State Economic and Trade Commission, the funds obtained by SMEs in eastern, central and western China from banks and other financial institutions are: 60% in eastern China; About 70% to 80% in the middle; Up to 90% in the west. It can be seen that SMEs are highly dependent on financial institutions. At the same time, the authoritative department survey shows that in addition to financial institutions, private loans have also become an important source of funds for SMEs, accounting for 14.59%, while the amount through direct financing channels is extremely small, accounting for only 1.8%.
(C) There are great differences in the loans of domestic financial institutions to SMEs.
According to statistics, among all kinds of financial institutions in China, including financial leasing and trust investment, small and medium-sized financial institutions such as Minsheng Bank, urban credit cooperatives, rural credit cooperatives and urban commercial banks provide a higher proportion of loans, while among the four major state-owned commercial banks, except China Agricultural Bank, the other three banks have a smaller share of loans, and the proportion of financing services provided by non-bank financial institutions is even lower.
(4) The loan demand cannot be fully met.
In the historical investigation? Insufficient funds? It has been listed as the first problem for small and medium-sized enterprises. Statistics show that more than 90% of SMEs' loan service needs can not be met or can only be partially met.
Second, the causes of financing difficulties for SMEs
Credit discrimination
Until today, there are still serious credit problems in state-owned commercial banks. Composition (state-owned) discrimination? . Small and medium-sized enterprises get very limited credit support from state-owned banks. It is extremely unfair that state-owned enterprises that have created 30%GDP get 70% bank loans, while non-state-owned enterprises that have created 70%GDP only get 30% bank loans. In the current banking system, state-owned commercial banks still occupy a dominant position. The different ownership backgrounds make the competent departments of state-owned banks worry a lot about lending to small and medium-sized enterprises, for fear that they will be in debt. Comparatively speaking, even if state-owned banks issue non-performing loans to state-owned enterprises, they will not bear political risks. This led to state-owned banks? Adverse selection? That is, I would rather lend to state-owned enterprises with poor efficiency than to small and medium-sized enterprises with good efficiency.
(2) The system of small and medium-sized enterprises lags behind, which is out of step with the change of market environment.
At present, many private small and medium-sized enterprises still implement the corporate governance structure of family management; There is no essential difference between the governance structure of state-owned small and medium-sized enterprises and the traditional large state-owned enterprises; Some township collective enterprises have the disadvantages of old state-owned enterprises, and some have evolved into family-owned enterprises, but many so-called restructured enterprises are still not standardized, especially some enterprises are restructured to avoid bank debts, and there are few limited liability companies, joint-stock companies and foreign-funded enterprises that truly have the characteristics of modern enterprises. At the same time, in the process of escape, the seller's market pattern has changed to the buyer's market for many years, and the country pays more attention to the sustainable development of economy, society and environment in economic development, and pays more attention to the harmony between economic development, social stability and resources and environment. Due to the lag of system renewal, some small and medium-sized enterprises do not adapt to the changes in the external environment, have difficulties in operation, and the demand for supplementary funds from foreign aid has greatly increased, so the demand for bank loans has greatly increased.
(C) Bank management and the development needs of small and medium-sized enterprises are not coordinated
With the deepening of commercialization and marketization of banks, the equal status of banks and enterprises in market transactions has been continuously enhanced, and the risk prevention mechanism of banks has been continuously enhanced. In order to reduce the non-performing assets of the banking industry, commercial banks have changed the extensive loan management mode, generally accepted the loan authority, tightened the procedures and conditions for loan issuance, attached importance to the investigation of the financial status and credit status of enterprises, and required to provide mortgages and guarantees. However, while strengthening the construction of internal control system, some banks lack the technical means and incentive mechanism to carry out credit marketing, simply adopt credit rationing means based on mortgage guarantee, and pay no attention to cultivating promising small and medium-sized enterprises, which has aggravated the financing difficulties of small and medium-sized enterprises to some extent.
Third, to solve the financing of SMEs countermeasures
(A) improve the system of small and medium-sized enterprises, improve the governance structure.
At present, the financial system of small and medium-sized enterprises in China is generally imperfect, and the authenticity and accuracy of financial reports are low, which makes it difficult to protect the interests of banks. These are often caused by the imperfect corporate governance structure. Establishing a modern enterprise system and improving their own quality is an important way to solve the loan difficulties of small and medium-sized enterprises. Promote the diversification and socialization of the small and medium-sized enterprise system and straighten out the governance structure. Implement an active exit strategy for state-owned small and medium-sized enterprises and take the road of restructuring and reorganization; For private enterprises, we should guide the direction of capital socialization, change the family management mode and absorb the elements of modern enterprise system and management system; For collective enterprises, it is necessary to promote property rights reform and clarify property rights relations. In accordance with the relevant provisions of the state, standardize the financial system, establish a system that can correctly reflect the financial situation of enterprises, and increase the financial transparency of enterprises.
(2) Establish a non-state-owned small and medium-sized financial mechanism for small and medium-sized enterprises.
On the other hand, due to the high operating costs of large banks, in order to improve efficiency and save costs, non-state-owned small and medium-sized financial institutions can be developed to provide comprehensive financial services for the development of small and medium-sized enterprises. In Britain, there are both people engaged in bulk credit? Wholesale bank? There are also a large number of people engaged in microfinance? Retail line? The specialization of division of labor promotes the improvement of efficiency. From the cost point of view, the cost of small loans for small and medium-sized enterprises by large state-owned banks is relatively high, so what should their professional orientation be? Wholesale bank? ,? Retail line? Our business should give way to small and medium financial institutions.
(c) Establish a secondary market for SMEs.
First, investors have the investment motivation to pursue as much investment income as possible and reduce risks as much as possible. Objectively, it is required that an investor can? Can we advance, attack, retreat and defend? what's up Channel? . For mature listed companies, it is the securities market. Although the Shenzhen Stock Exchange set up a small and medium-sized company gathering board in 2006, only more than 200 small and medium-sized companies have been listed so far due to the high threshold. However, the vast majority of small and medium-sized enterprises can't conduct stock trading or equity trading in the securities market like mature listed companies. In order to solve this problem, the second securities market? Also known as the second board market came into being. Compared with the main board market, the listing standards and conditions of the second board market are relatively low. As long as the scale and capital of the enterprise reach a certain standard, it can issue shares in the second board market and raise capital. Its clear positioning is to provide financing services for high-growth small and medium-sized enterprises, aiming at the capital market of small and medium-sized enterprises.
(D) the stepping stone to the rapid development of small and medium-sized enterprises-financial leasing
Among many financing schemes for small and medium-sized enterprises, the above schemes are mostly discussed, but financial leasing is rarely recognized and used. In fact, in developed countries such as the United States and Germany, and developing countries such as Brazil and South Korea, financial leasing has been better used to solve the development problems of small and medium-sized enterprises.
The so-called financial leasing is also called financial leasing, which means that the lessor purchases equipment according to the leased equipment and suppliers selected by the lessee for the purpose of providing financing to the lessee, and the lessee obtains the long-term use right of the equipment at the expense of paying the rent by signing a financial leasing contract with the lessor. Financial leasing can provide some financial support for SMEs. Because its operation is to achieve the purpose of financing through the form of melting things, it can actually meet the dual functions of raising funds and updating equipment for small and medium-sized enterprises. Using financing lease to purchase equipment, small and medium-sized enterprises can obtain the right to use the required equipment without or with little investment, and then pay the rent in installments from their operating income after putting into production, which is actually equivalent to obtaining a bank loan. In this way, small and medium-sized enterprises can not only update advanced equipment with low accumulation rate, but also use limited funds for other purposes, which is conducive to improving their capital utilization efficiency. At the same time, the use of financial leasing for financing has fewer restrictions, simple procedures and flexible repayment methods, which can reduce the financing costs of SMEs. In addition, when small and medium-sized enterprises are short of funds, they can also use leaseback lease to sell the original assets to the leasing company to facilitate financing, and then rent the sold assets back from the leasing company at the expense of paying rent, thus transforming their less liquid materialized assets into the most liquid cash assets, and the liquidity is obviously enhanced.
After several reforms, the operating conditions of rural credit cooperatives have not fundamentally changed. Coupled with the impact of the world financial crisis and fierce competition from other financial institutions, although the government has taken many measures to encourage the development of rural credit cooperatives, rural credit cooperatives are still forging ahead on the thorny road. Now on the current operating conditions of rural credit cooperatives, let's briefly analyze their operating conditions and put forward some reasonable suggestions.
First, the analysis of the current situation of enterprises
(A) deposit is the lifeline of rural credit cooperatives, rural credit cooperatives to do a good job of deposit is decisive and even crucial. The benefits of rural credit cooperatives are reflected in loans, intermediary business income and other links, which can not be separated from deposits. It is difficult for rural credit cooperatives to meet the needs of daily business without certain liquidity, and it is difficult to obtain more profits without certain self-owned funds. There are two problems before us:
"1", the contradiction of decreasing deposits
The agency of credit cooperatives is the most basic branch of rural credit cooperatives, which plays an important role in raising social idle funds, supporting agricultural production, facilitating people's lives and promoting rural economic development. Although the agency station of credit cooperatives is a place where financial cases occur frequently, canceling the agency station of credit cooperatives will not be worth the loss, which not only restricts the business development of rural credit cooperatives, but also is not conducive to serving agriculture, countryside and farmers.
< 2 >, the contradiction of high proportion of time savings deposits.
At present, the interest-bearing method of time savings deposits encourages large-scale time savings. In case of interest rate adjustment during the original time deposit period, the new interest rate will be implemented from the date of the increase when the interest rate is raised, and the original interest rate will be implemented during the deposit period when the interest rate is lowered. This way protects the interests of depositors, but affects the interests of credit cooperatives. Compared with demand deposits, the payment cost of time savings deposits in credit cooperatives will inevitably increase.
(2) Loans are the main source of income for rural credit cooperatives. Only by issuing loans with a certain amount of deposits can loan interest income be obtained. Too high loan-to-deposit ratio will affect the demand for liquidity, while too low loan-to-deposit ratio can not meet the demand for deposit interest and various expenses, which requires rural credit cooperatives to control the loan-to-deposit ratio reasonably in strict accordance with the requirements of banking supervision departments.
<1> The contradiction between farmers' loan difficulty and credit cooperatives' loan difficulty.
It is difficult for farmers to borrow money because the amount of micro-credit loans for farmers is low, which can not meet the loan needs of farmers; Secondly, the threshold of credit cooperatives is high, and farmers lack effective collateral to borrow loans; In addition, the short loan period and inflexible policies of credit cooperatives also account for a certain proportion. At present, the term of agricultural loans of credit cooperatives is generally six months to one year. If the loan is not repaid at maturity, the credit cooperatives in loans overdue will no longer support farmers in the coming year.
It is difficult for credit cooperatives to lend because agricultural loans are risky and cannot be recovered on time. Because the ability of agriculture to resist natural disasters is poor, if farmers' income decreases and loans are not repaid at maturity, they will become overdue. Secondly, when the risk of farmers' loans is formed, loan officers will bear certain responsibilities, which will not only affect personal interests, but also be held accountable.
< 2 > the existence of hidden non-performing loans is undoubtedly the enemy of current rural credit cooperatives. Excellent assets determine the income situation, and loans issued cannot be recovered on time, which will reduce the liquidity of rural credit cooperatives and affect the asset quality of rural credit cooperatives. In recent years, the collection of non-performing loans is still a major task.
< 3 >, problems left over from history are also facing severe tests, such as the change of the head of the original unit and the fruitless prosecution, which is also a key factor that plagues the development of rural credit cooperatives. If these problems cannot be solved as scheduled, the loans left over from history will not be recovered, which will affect the overall loan quality of rural credit cooperatives.
< 4 > A small number of loan officers in individual regions and outlets take advantage of their positions to collect kickbacks in disguised form on loans issued by customers, which causes borrowers to lower the level of rural credit cooperatives from the heart and reflects borrowers' willingness to repay loans on time from another angle.
(3) There are defects in financial management. The financial management of rural credit cooperatives is a comprehensive reflection of business management, which runs through the whole process of credit cooperatives' business activities and has strong comprehensiveness. The success or failure of various management work will eventually show different financial performance.
< 1 >, the phenomenon of setting up private coffers still happens from time to time. In order to meet the needs of temporary emergency funds, some operating institutions signed the white note, but it also laid a deep security risk for the rural credit cooperatives. Assuming that there are problems such as leadership transition during this period, will the new leader pay for the practice of the previous leader? We have to put a question mark on this issue.
< 2 >, disguised expenses, tax evasion. For example, in? Other payables? In the main body, some business organizations even directly reduce the loan collection fee? Interest income? This leads to less interest income and business tax declaration, resulting in tax evasion.
(D) Distribution of outlets, quality of customers and market resources of rural credit cooperatives, which can not be ignored in the management process of rural credit cooperatives. Rural credit cooperatives are based in rural areas, radiating urban and rural areas, and have truly formed the advantages of sticking to and serving rural areas. With the rapid development of rural economy, a number of large private enterprises and township enterprises have emerged in the vast rural areas, becoming the main force of county economy. If rural credit cooperatives do not firmly grasp these resource advantages, their operation and income generation will be frustrated.
(E) Fierce market competition and the loss of high-quality customers are also the main problems facing the development of rural credit cooperatives.
With the rapid development of economy and the gradual advancement of urbanization, the people's image of rural credit cooperatives has gradually faded, and financial competition has begun to extend to the vast rural areas. Some large banks with strong financial strength gradually occupy a favorable position among the customers of leading enterprises in the county, attracting a large number of high-quality customers, and gradually losing some high-quality customers who used to rely mainly on the support of rural credit cooperatives.
In addition, the loan interest rate of rural credit cooperatives is higher, and the same loan will pay more interest in rural credit cooperatives than in other commercial banks, which will increase the financial burden of some small and medium-sized enterprises. At present, the ideological consciousness of rural credit cooperatives is not strong, and the loan interest rate pricing mechanism is rigid, which has not adapted to the needs of market development.
Second, the rationalization proposal:
(A) change ideas, innovative ideas.