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Shenmu County, located in Yulin City, Shaanxi Province, has been at the forefront of turbulence in recent days. The county, whose GDP exceeded 100 billion yuan last year, is now deeply in the private lending crisis. Since the second half of last year, the prices of coal-related industries have fallen sharply, and the economic growth rate of Shenmu County, which relies heavily on coal and the coal-related industries, has slowed down significantly. The local private lending that had once been booming has fallen to the bottom.
What is the status of Shenmu County after the outbreak of the private lending crisis? The phenomenon of debt collection can be seen everywhere in the county. Some lenders do not even have the money to pay off or even lose their way. At the same time, due to the credit system being broken, some private ** chains have broken, which has adversely affected many private enterprises and projects that are being launched.
The city is full of debt collectors, "now is the 'drum pass", a drum stop, who is in the hands of bad luck." Before the crisis broke out, a local business executive told the "Economic Information Daily" reporter. A few months later, the outbreak of the private loan crisis in Shenmu affected the local economy, finance, and society.
Today's Shenmu, debt collectors abound.
“My friend and I have also opened a small loan company in the past two years, and the scale is probably around 100 million yuan. Since last year's bad situation, we have reduced the scale to 20 million to 30 million yuan. Fortunately, we have taken a step back. Now, a lot of money lending will not be refunded.†A local business owner of Shenmu said Mr. Chen said, “I know hundreds of millions of people will not come back, and the money he owes others is not yet. Do nothing, all day **."
A government official said that a small number of people have been seduced by the surrounding atmosphere and high interest rates, and they have thrown “live money†into them. Now life is difficult. There are also people who use debt collection and debt management to run around and even run into violent debt collection.
Under the pressure of huge debts, some people were forced to "run the road," and someone used a liquor or a luxury car to pay their debts.
“A friend of mine was a liquor agent. A long time ago, a liquor sales market is very good. A lot of people buy this discounted liquor, 200 yuan a bottle of wine, even if the debt is 400 yuan.†A company in Shenmu The boss said, “Some of them don’t even pay for their cars, but they don’t even have cars.â€
“Some of the bosses actually have money in their hands, but they are reluctant to take them out in the current situation, and some hide and transfer funds, so retail investors in the midstream and downstream have more losses. The money is also for a year and a half. Can't come back," said a company head of Shenmu.
Affected by the private lending crisis, some private ** chains have been broken, which has adversely affected many private enterprises and projects that are being launched.
A person in charge in Yulin City said that after the outbreak of the crisis, the civil society has shrunk dramatically. This is equivalent to a large amount of “drawing blood†from the private real economy. Downward pressure on private enterprises, especially small, medium and micro enterprises, has added to the problem, which has adversely affected the development of the real economy.
Gao Haixiong, deputy director of the Shenmu County Development and Reform Bureau, said that most companies in Shenmu have private loan funds, and most of them are private funds. Folk ** is very important to the development of enterprises, and it plays a great role in promoting the development of local private enterprises. There are 240 private enterprises above the scale of Shenmu, and thousands of small and medium-sized enterprises below the scale. In the past, private capital was not in the bank, and most of it returned to the company.
“In the current situation, companies are already in a difficult situation, and it is difficult to get into the funds. Before we were already well coordinated with some banks, both sides are yellow, and the branch here said that all mortals for Shenmu are now stopped,†Gao Haixiong said.
“Some projects have become semi-structured projects, they are launched, and they have no capital to invest in; they stop, but they are even less profitable. Moreover, many of the machinery and equipment have a useful life, they are now waiting, and they have to wait for several years to become old and to be eliminated. ", said a business owner.
The complexity of the capital chain introduced the local people, Shenmu private loans are basically three to five points, the most optimistic estimate that more than half of the households have a lending relationship, more than 70% of the rural population are involved, there are many corporate workers, floating population It was also involved.
How large is the scale of Shenmu private lending? Recently, the "Economic Information Daily" reporter visited Shenmu County Development and Reform Bureau, the Finance Office and other departments, but all departments have stated that the size and direction of private lending are difficult to grasp and cannot be accurately counted.
In Shenmu, in addition to formal banks, financial institutions include small-scale companies, guarantee agencies, investment companies, pawn shops, and “underground banks†that are regulated by the government and are outside the supervision. At present, for the number of underground money houses, the scale of capital involved, the direction of flow, etc., the government departments are almost completely out of control, and the rumors circulating in the shops are “thousandsâ€.
A person in charge of Yulin Enterprise stated that the scale of Shenmu’s private lending was at least RMB 20 billion. However, another staff member of the Ordos Judiciary revealed that the amount of private loan funds flowing to Ordos in Shenmu County was between 60 billion and 70 billion yuan.
Regarding where these money flows, a number of local people in Shenmu stated that private lending is investing in funds, with 60% going to coal mines and the rest going to real estate and other industries. In the region, in addition to Shenmu, a large amount of private loan funds flowed to the neighboring Ordos region.
With the same scale and flow of funds, it is a complicated capital chain.
In Shenmu, which once used to be a “family real estate, a household pawn shopâ€, the procedure for borrowing money can be as simple as “make a white bar and hand in hand.†And private lending and bank lending are intertwined.
"Some people borrow on a one-off basis, and then on two or three points. Sometimes this chain will be very long. This creates a complicated 'triangular debt.' If something goes wrong in one link, it will spread to other links." A boss who once worked on microfinance said.
Regarding the complexity of the private lending chain, a person who has long paid attention to the issue of private lending in northern Shaanxi told the reporter of the “Economic Information Daily†about one thing: “Last year, a friend of mine told me that he has participated in individuals in recent years. **, deeper and deeper, the accumulated savings of many years and the savings of relatives and friends totaling more than 40 million yuan were all put in. The boss who raised funds on him was said to have 1.2 billion yuan in funds. Since last year, the situation has been very bad. Now, it is a meeting every week, and it is a quarrel at a meeting. In this 40 million yuan, he owns only a small part, and the bulk is relatives and friends."
"Recently, my friend said that thanks to his early consciousness, the 40 million yuan principal recovered 20 million yuan, and the rest can only return slowly. His funds were mainly directed to Ordos, and now he still has Two sets of local houses, the price far exceeds the average local price, not only can not sell, but also to pay property fees." The source said, "According to my observations, now the capital chain breaks, almost all related to coal mines, real estate. At that time, people even tried to get out of the bank and put it out with higher interest."
The locals said that in addition to the borrowings from the network, there are many underground money houses that have gathered and put up the money by raising funds from retail investors in the society. “These underground banks have not been approved by the government. Once there are signs of trouble, many people have run away.†In addition, there is a large degree of association between civilians and illegal people. Many **s are chained. The previous paragraph was a folk **, and the later paragraph was an illegal **.
Follow-up risks to be resolved The relevant person in charge of Yulin City stated that according to the ** deadline and the economic downturn, many risks of private lending have been released and the potential risk losses are lower than the existing risk exposures. Now the main task is to resolve the stock risk.
Private Borrowing Many borrowers start to defend their rights through formal channels. At present, public security and court departments have filed and accepted cases involving private loan funds exceeding RMB 7.5 billion. Among them, the Shenmu County Court accepted 4,786 cases of private lending disputes since last year, involving a total amount of 3.217 billion yuan, involving 7658 people; and the Shenmu County Public Security Bureau initiated 7 cases of investigation and investigation, involving 4.13 billion yuan in the number of involved persons. People (households).
In addition to Shenmu, Fulin’s Fugu and Jude sites also have different degrees of private lending and corruption. According to relevant statistics of Yulin City, from 2011 to the present, Yulin courts at various levels accepted 11,714 cases and closed 9,818 cases. The amount of settlement was 2,258 million yuan and the settlement rate was 83.8%. Since 2011, 34 illegal fund-raising cases have been reported, involving 5.36 billion yuan, and the number of victims at the first level is more than 7,940. The average redemption rate is 40%.
“Private borrowing is basically a half-year or one-year period. The exposures from the past year have already been exposed,†said a person in charge of the Shenmu County government. “There are so many cases that basically no victims will still be sitting at home. Wait until you report the case."
For follow-up development, the relevant person in charge in Yulin City stated that in the future, the Group will dispose of the details and implement “one case, one policyâ€. In each case, corresponding solutions will be formulated and a professional team will be consulted. At the same time, it will also increase support for the private economy, activate cash flow, and use economic development to eliminate the adverse effects of the crisis.
Huang Jianjun, county head of Shenmu County, said that Shenmu is not a resource-exhausted region, and reserves of various types of resources are large and have great potential. "It should be said that Shenmu's family is still very thick. Now it is only in the process of economic development that we have encountered difficulties. We must think of ways to make this path possible. We have the strength to solve problems."
