On June 17, as the central bank raised the deposit reserve rate by 0.5% again, part of the banking industry's funds were frozen again. This policy has caused problems for SMEs. It is reported that the capital chain is tense, Zhejiang and Guangdong small and medium-sized enterprises have closed down one after another, and the bank has also heard the voice of “not making money well and surviving pressureâ€. In addition to personal credit, the current lending of SMEs has become more difficult. The sentiment of SMEs data shows that after the RRR hike, the deposit reserve ratio of large and medium-sized financial institutions will reach a high of 21.5%, which will freeze the market capital of 380 billion yuan. The scale of bank credit has been shrinking, and the difficulty of financing for SMEs has increased. Ma Guangyuan, an economist, also said that the RRR has risen again. While continuously creating historical records, it also means that the risk of out-of-control prices still exists. It seems that there is no difference in how to ensure credit funds in the fields of small and medium-sized enterprises and agriculture. In May, three “well-known†small and medium-sized private enterprises in Wenzhou, Zhejiang Province closed down one after another, and once triggered a panic in the wake of the collapse of small and medium-sized enterprises. In Zhou Dewen's view, this phenomenon has not been alleviated as some media have said, but the monetary policy that is constantly tightening is causing more SMEs to go bankrupt. He even asserted that in the second half of the year, small and medium-sized enterprises in Jiangsu and Zhejiang will usher in a wave of bankruptcy. "This is by no means an alarmist." “Now the enterprise is not going to be easy to borrow with high interest rates, and the bank has no money at all.†Zhou Dewen estimates that 80% of China’s micro-enterprises are currently unable to obtain loans from banks, and loans are flowing to large enterprises. Xie Tao, secretary general of the Guangdong Provincial Small and Medium Enterprises Development Promotion Association, said recently that the effect of the approval is that the total pool of social funds has once again decreased, but the total social demand has not decreased, and the demand for financing is very strong. At present, the quotas of many guarantee companies in Guangdong Province have been used up, indicating that the demand for small business financing is very large. "In late May, the regulatory agencies including the China Banking Regulatory Commission have visited the Jiangsu and Zhejiang provinces, and SMEs are full of expectations." Zhou Dewen revealed. Since then, the "Notice on Supporting Commercial Banks to Further Improve Small Business Financial Services" has been rapidly introduced. However, in Xie Tao's view, the financing cost of SMEs is still very high. From the handling fee to the guarantee fee, it is estimated to reach 13 %-15%, if borrowed from the private sector, it will reach 40%-60%. Zhou Dewen suggested that the banking regulatory department can make structural adjustments in terms of currency and credit to ensure that new loans are tilted toward SMEs. At the same time, supervision should be strengthened to ensure that the financing obtained by SMEs is used to develop the real economy, not for Capital market investment. "But these may not solve the problem fundamentally. As long as China's financial system is not reformed, the financing difficulties of SMEs will always be an inextricable knot."
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