[ad_1]
Starting next year, the nationwide implementation of the unified register of movable property and rights guarantees for small and medium-sized enterprises to welcome financing
Trainee journalist Xu Beibei
SME financing is once again welcoming good news. On December 14, the executive meeting of the State Council decided that as of January 1, 2021, the uniform registry of guarantees of movable property and rights will be implemented at the national level. The record of production equipment, raw materials, semi-finished products, product mortgages, and the record of accounts receivable promises made by the People’s Bank of China, as well as the record of deposit promises, finance leases, and factoring , which were originally carried out by the General Administration of Market Supervision, will be in charge of the People’s Bank of China. Internet is available 24 hours a day, 7 days a week.
In recent years, under the guidance of policies, China’s financial institutions have continued to increase their corporate credit lending, but secured financing remains an important financing method for companies, especially small, medium and micro enterprises. In financial practice, small and medium-sized companies lack real estate guarantees. At the same time, although movable property, such as raw materials and finished goods, are important assets, they are difficult to use as financial collateral and financial difficulties and major financing problems persist. Based on this, exploring the unified registry of real estate and rights, breaking the status quo of information asymmetry in movable mortgage guarantees, has become a solution to the financing difficulties of SMEs.
At present, the development of China’s movable property financing market is still relatively lagging behind. Zeng Gang, deputy director of the National Laboratory for Finance and Development, said that according to World Bank statistics, China’s movable assets are currently between 50 trillion and 70 trillion yuan, and the annual balance of short-term loans of financial institutions is about 30 trillion yuan. , Secured loans for movable property are only 5 trillion to 10 trillion yuan, which is less than the proportion of 60% to 70% of total short-term loans of secured loans for movable property of developed countries.
Not only that, the decentralization of the registration authority also creates difficulties for corporate guarantees of movable property. “Under the current movable property collateral registration system, the movable property collateral registration is relatively dispersed. The different rights and movable property registration jurisdictions are dispersed in various departments. This does not favor quick and convenient registration of companies, and does not allow financial institutions to understand relevant information. Dong Ximiao, chief investigator of China Merchants Union Finance, told the Financial Times reporter that the establishment of a unified movable property financing guarantee registration system at the National will help solve the above problems and then revitalize the movable assets of companies.
In an interview with a Financial Times reporter, China Postal Savings Bank researcher Lou Feipeng said that in the process of providing financing for small and medium-sized businesses, banks require mortgage guarantees. The main objective is not to occupy or dispose of guarantees in the future, but to use them as collateral. The second source of repayment forms a risk-sharing mechanism between the borrower and the bank. However, when it comes to the current situation, the real estate mortgage record is relatively clear and easy to handle. The movable property mortgage registration department is different, and the registration is different in different places, and some places even do it and some don’t. Also, compared to real property, mortgages on personal property require registration to prove property rights. From this point of view, the unification of the registration of movable property and mortgage rights will help increase the enthusiasm of financial institutions to support small and medium-sized enterprises, thus alleviating the problem of difficult and expensive financing of companies.
It is understood that in 2007, the Credit Information Center of the People’s Bank of China established the country’s first Internet-based mobile property finance registration system – the Accounts Receivable Promise Advertising and Registration System, which later It was renamed the Credit Information Center Unified Movable Property Financing Record and Publicity System. Now it has been developed. Become the largest registry system in the country involving transactions of movable property. As of April 2019, Beijing, Shanghai, Chongqing, Guangzhou and other cities have successively launched pilot projects for the unified registration of movable property and rights guarantees to facilitate the financing of corporate guarantees. The main content of the pilot program is: 18 district market supervision offices (sub-offices) in Beijing, 17 district market supervision offices (sub-offices) in Shanghai, 41 district market supervision offices (sub-offices). -offices) in Chongqing and 11 district market supervision offices (sub-offices) in Guangzhou entrusted by the people The bank credit center deals with the mortgage registration business of production equipment, raw materials, products and semi-finished products . According to statistics, in the pilot program, private companies and small, medium and micro companies accounted for more than 95% of new collateral registration companies, and the amount of financing represented more than 80%.
In addition, the ordinary meeting of the State Council also made it clear that if the registration of collateral of movable property and rights has been done before, it is not necessary to re-register, and the relevant departments should properly complete the transfer of information and data from the Inventory. The new registries will be managed independently by the parties through the unified system of registration and publicity of financing of movable property, and will be responsible for the authenticity, integrity and legality of the registered contents; the registration agency will not conduct a substantive examination of the registered contents.
Dong Ximiao said that, on the basis of pilot projects in some provinces and cities in recent years, the unified registration of movable property and rights guarantees throughout the country and the adjustment of the registration authority of the relevant departments can facilitate the registration of movable property and rights guarantees and save the cost of registration procedures. In addition, it helps financial institutions to capture relevant information from companies in a timely and comprehensive manner, be more daring and willing to lend, and improve the willingness and efficiency of guaranteeing financing for companies.
Massive information, accurate interpretation, all in the Sina Finance APP
Editor in Charge: Wang Ting
