The government has determination, enterprises have confidence
In recent days, there has been an endless stream of enterprises seeking loans from the Lishui Branch of Zhejiang Tailong Commercial Bank; Wang Huawen, the owner of Ouyi Bearing Manufacturing Co., Ltd. in Lishui City, is considering whether to take advantage of the current drop in steel prices to purchase steel and make early arrangements for production next year.
With the central bank announcing interest rate cuts three times in just one and a half months, the country is focusing on expanding domestic demand for economic growth. The investment plan of up to 4 trillion yuan and four implementation measures are expected to stimulate investment and consumption to drive China's economic growth. Many small and medium-sized enterprises in our city have been under great operational pressure since the financial crisis on Wall Street, further enhancing their confidence in development.
Small and medium-sized enterprises face financial pressure
The "Analysis of the Operation of the Industrial Economy in the Third Quarter of the City" recently released by the Municipal Economic and Trade Commission pointed out that the current export situation of industrial enterprises in our city has maintained a high-speed growth, but many enterprises are facing the problem of insufficient confidence, and most enterprises are facing a survival crisis under high cost pressure. The Lishui Branch of the People's Bank of China also emphasized in a recent report that most of the enterprises in our city are small and medium-sized private enterprises, with small scale, limited pricing rights for products, weak ability to transfer costs, relatively low product added value, and weak ability to bear rising costs. Small and medium-sized enterprises are facing operational pressure.
Nowadays, many enterprises are facing crises such as insufficient orders and poor payment collection, coupled with inventory backlog, which will elongate the enterprise's capital chain and greatly weaken its ability to resist financial risks. Chen Fen, General Manager of the Business Department of Lishui Branch of Zhejiang Tailong Commercial Bank, believes that at this time, the demand for funds by small and medium-sized enterprises is particularly urgent, The central bank's three consecutive interest rate cuts and the introduction of policies to boost domestic demand in the short term have sent a positive signal to a large number of small and medium-sized enterprises.
Central Bank to Increase Support
The reporter learned that the central bank has cut interest rates three times in a row on September 15th, October 8th, and October 30th this year. The benchmark one-year loan interest rate has been lowered from 7.47% at the end of last year to the current 6.66%, a cumulative decrease of 0.81 percentage points.
Although there will not be immediate results, this is definitely good news, "said Fan Shiwu, Director of the Small and Medium sized Enterprise Department of the Municipal Economic and Trade Commission. This indicates that the country is making efforts to adjust the macroeconomic situation, and the operational difficulties caused by the international financial crisis will be alleviated. After the Spring Festival, there may be a peak in loan financing for small and medium-sized enterprises in our city. At present, there are over 15000 small and medium-sized enterprises registered with the industrial and commercial department in our city, accounting for the vast majority of the city's private economy, with taxes accounting for about 80%, and most of them have loans from banks.
Wang Huawen, from Lishui Ouyi Bearing Manufacturing Co., Ltd., told reporters that although the company is currently facing some difficulties, the continuous interest rate cuts by the central bank have once again given the enterprise opportunities for development, reducing its survival costs and enabling it to develop stably even in the face of economic downturn.
Commercial bank lending support
Under the macroeconomic regulation of the central bank lowering interest rates, various commercial banks have made corresponding adjustments to transmit the role of national policies to small and medium-sized enterprises. Our average loan interest rate has been lowered for three consecutive months, and there has been a significant increase in the number of companies seeking loans. "Lin Ying, a staff member of the Marketing Department of Lishui Branch of Zhejiang Tailong Commercial Bank, told reporters that the average loan interest rate in August was 8.96%. In September, it dropped to 8.66%, and in October, it will be 8.60%. The pressure on enterprise loan interest rates has significantly reduced.
Now the bank has relaxed its loan policy, and our loan has increased from over 8 million yuan to over 18 million yuan. Saving interest is equivalent to increasing the income of the enterprise. At the small and medium-sized enterprise financial product promotion meeting of the Lishui Branch of Industrial and Commercial Bank of China a few days ago, Huang Fenfen, the general manager of Zhejiang Xindahong Packaging Co., Ltd., calculated to the reporter that thanks to the decrease in loan interest, the enterprise can save about 300000 yuan in interest alone a year, It is very helpful for the development and support of the company.
In the workshop of Zhejiang Xinxu Stainless Steel Co., Ltd., workers are nervously and orderly installing the stainless steel wire drawing production line. The equipment will officially enter the production phase next month. Li Xindi, Chairman of Zhejiang Xinxu Synthetic Leather Co., Ltd., stated that the policy of reducing interest rates and stimulating domestic demand introduced by the government has a driving force for enterprises to increase confidence. It can be said that it has reduced the costs of our enterprise and also demonstrated an attitude by the government, promoting the development of enterprises with more confidence.
(Reporter Ma Yinghua sourced from "Chuzhou Evening News")