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Wenzhou Financial Reform Rules: Proposed establishment of private interest rate index

Time: 2012-12-25         Source: Rong 360 original         Author: bamboo

        The 12 rules for the implementation of the Wenzhou Financial Comprehensive Reform formulated by the Zhejiang Provincial Government were announced. In this gold reform rule, Wenzhou will establish a private financing monitoring system to form a private financing interest rate index, namely the “Wenzhou Index”. In addition, Wenzhou will actively strive for innovative products such as high-yield instruments to take the lead in the local market. test.

"Because of the economic and financial environment, the current policy breakthrough is difficult, and the coordination of the regulations is difficult, the market-oriented reforms in the factor field are relatively lagging behind. The unclear factor ownership, functional inequality, and insufficient market development have affected Wenzhou Finance. The progress of the reform.” Chen Derong, secretary of the Wenzhou Municipal Party Committee, said frankly, but it is still the time window for promoting financial reform.

In April this year, WenzhouPrivate lendingThe registration service center was officially listed, and the platform has gathered functions such as private financing intermediary services, filing management and monitoring systems. According to the overall plan of the Wenzhou Golden Reform approved by the State Council, the first thing Wenzhou needs to focus on is the “two more dilemmas” of small and medium-sized enterprises with more financing difficulties and more private funds, but the key point is to further standardize and guide the private financing platform. Turn. In the private financing market, the Wenzhou Golden Reform Rules specifically proposes to carry out pilot projects for private lending service centers, introduce a number of intermediaries to settle in, provide services such as private lending registration, notarization and asset appraisal, and guide private financing to be sunny and standardized. Establish and improve the private financing monitoring system, form the "Fenzhou Index" of the private financing comprehensive interest rate index, do a good job of private financing tracking and risk warning; develop professional asset management institutions, actively carry out pilot projects of private capital management companies, and realize county (city, Area) Full coverage, etc.

In addition, a person familiar with the matter said that the "Zhejiang Wenzhou Private Financing Management Regulations (Draft)" has also been drafted, which has made detailed regulations on the private lending rate and the legality of personal lending, and proposed "all within three months." Class-based private lending will implement some market-based measures on interest rates." The biggest bright spot of the draft is to "make a reform attempt on private lending rates." The specific content is that various types of private lending methods with a maturity of less than three months will implement some market-based measures on interest rates. If it does, it will be the most valuable written regulation of Wenzhou's financial reforms so far. It is reported that the management regulations have been included in the legislative plan of the Zhejiang Provincial People's Congress, and the possibility of introduction this year is extremely high.

Wenzhou's comprehensive financial reform can be described as twists and turns. Although all have breakthroughs, some analysts believe that China's current financial reform is a game of chess. It should promote the "top-level design" in an all-round way, and interest rate marketization should be promoted as a whole and across the country.

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