Study on the Feasibility of Liaoning Province to Develop Mutual Guarantee in Sma
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（Party School of Liaoning Province, Shenyang, Liaoning 110004, China）
Abstract. In this paper, according to the characteristics of the regional economic development of Liaoning province of China and the introduction of the advanced experience from the foreign countries, the author puts forward the basic idea of attracting and promoting the high-quality small enterprises and micro enterprises within the industrial clusters to actively build up the mutual-assistance oriented credit guarantees and the mutual-guarantee oriented financing mechanism by relying on the advantageous industrial clusters and the positive driving and extensive promotion of the industrial associations. In terms of the most fundamental preconditions, the function orientations, the development objectives and the development models, the author establishes a basic framework for Liaoning province of China to develop the mutual guarantee in the small and medium enterprises, attempting to point out a new idea for the government of Liaoning province to develop the mutual guarantee in the small and medium enterprises, and providing the government of Liaoning province with the policy suggestions to develop the mutual guarantee in the small and medium enterprises.
Key words: Liaoning Province; Small and Medium Enterprises; Mutual Guarantee; feasibility; Policy Suggestions
Introduction
In liaoning province, the small and medium enterprises have converted into the most active cells in the regional economic development process. In addition, the small and medium enterprises have also proven to be one of the most important parts of the development of the economy of Liaoning province at the present time.
However, the difficulties in the financing are still the major bottlenecks, which impose the restrictions on the small and medium enterprises as well as the private economy to attain a great development in many areas of Liaoning province.
Current Situation of the Operation of the Credit Guarantee in Liaoning Province
The construction of the credit guarantee system has attained a great number of the preliminary results in Liaoning Province within the recent years. The five aspects that are listed in the following can give expression to these results in details.
(1) The credit guarantee system that is centered at the financial guarantee begins to take shape at the present time
(2) The provincial and municipal guarantee business linkage mechanisms have emerged, and the business cooperation platforms have played a very important role
(3) The Credit guarantee information service platform has been built in Liaoning province
(4) The guarantee agencies implement their credit rating work with steady steps
(5) The guarantee business operations and industrial self-discipline management have attained a further enhancement
Main Problems in the Operation of the Credit Guarantee in Liaoning Province
The three aspects that are shown in the following can give expression to the main problems that exist in the operation of the credit guarantee in Liaoning province at the present time.
(1) The credit guarantee systems have the unbalanced developments in the different areas of Liaoning province, and exerts the very limited roles at the same time
(2) The financial credit guarantee agencies take up a leading position in the credit guarantee systems of Liaoning province, but the scale of the credit guarantees is very small and exerts the very limited roles at the same time
(3) It is necessary to make an enhancement to the cooperation between the banks and the credit guarantee agencies further
Main Problems in the Efficiency of the Credit Guarantee Operation Mechanism in Liaoning Province
Defect exists in the Structure of Credit Guarantee Market. In Liaoning province, there is a defect in the structure of the credit guarantee market of the small and medium enterprises.
More specifically, the effective supplies and demands are still in short at the credit guarantee market of the small and medium enterprises, while the invalid supplies and demands are in existence everywhere.
In Liaoning province, the credit guarantee market of the small and medium enterprises shows the characteristic that the effective supplies and demands are in short at the present time. The insufficient supplies and demands at the credit guarantee market of the small and medium enterprises are primarily manifested in phenomenon that the guarantee industry is in shortage of the fund accommodation and risk compensation mechanisms as well as the competition mechanism between the guarantee agencies at the present time.
Cost Efficiency is in the State of Imbalance. Generally, the efficiency of the credit guarantee operation mechanism in the areas of Liaoning province is considerably low at the present time.
The three aspects that are shown in the following can give expression to such a low efficiency in details.
(1) The input-output ratio of the credit guarantee operation mechanism is quite low
(2) The amplification factor of the credit guarantee operation mechanism is in the state of irrationality
(3)The ability of the credit guarantee operation mechanism to get a control on the risks is considerably limited
One of the major reasons for the emergence of the above problems is that the guarantee agencies in the credit guarantee operation mechanism of Liaoning province are in shortage of the effective incentive mechanisms at the present time. In addition, the risk sharing of the credit guarantee is still in the unsound state at the same time.
Introducing Experience from Other Areas Implementing the mutual guarantee for the small and Medium Enterprises
Introducing the Mutual Guarantee Experience from the Economic Community in German. In 1945, the government in Germany built up the guarantee banks for the limited liability companies from the legal form in accordance with the suggestions from a great number of the industrial associations. For this reason, the guarantee agencies are the mutual-support guarantee banks in the economic community of German at the present time.
The guarantee banks, by taking the liability capitals as the guarantees, provide the guarantees for those small and medium enterprises that have no the ability to supply the sufficient mortgages to resolve the problem that the financing is with the great difficulties. The most important guarantees that are provided by the guarantee banks in the economic community of German are the guarantees for the entrepreneurial-oriented small and medium enterprises, the growth-oriented small and medium enterprises, and the investment-rationalization oriented small and medium enterprises.
The roles of the mutual guarantee for the small and medium enterprises in the economic community of German have been obvious to all. The roles mainly include making the negative effects of competition in the market balanced and improving the business structures of the regional enterprises.
Introducing the Mutual Guarantee Experience from Taicang of Jiangsu Province. Aix great mutual investment and guarantee corporations in Taicang city of Jiangsu province have implemented the membership system for all objects that receive guarantees from them at the present time.
The mutual guarantee in Taicang has simplified the financing procedures, has made the amount of financing increased, and has helped the small and medium enterprises save a large amount of service charge and guarantee charge at the same time.
With the help of the "mutual guarantee", the loans for the small and medium enterprises in Taicang city of Jiangsu Province have realized an increase very significantly, and the contribution to the development of the banking business has been obvious to all people at the same time.
Construction of the Mutual Guarantee Financing Mechanism in Liaoning Province
Conditions for Liaoning Province to Implement the Development of the Mutual Guarantee Financing Mechanism. In the following, the author draws up a general conclusion on the conditions for Liaoning province to implement the development of the mutual guarantee financing mechanism from three aspects.
Objective Demands of the Small and Medium Enterprises in Liaoning Province on Development. At present, the small enterprises and the micro-small enterprises are in face of the great difficulties for the financing of development and have their own characteristics in the financing demands. Therefore, under this current situation, it is an objective inevitability for Liaoning province to develop the mutual guarantee financing mechanism which is mainly oriented at the small enterprises and the micro-small enterprises. In the mean time, it is a most important measure for Liaoning province to alleviate and resolve the main bottlenecks of the small and medium enterprises to implement financing.
Rapid Development of the Industrial Clusters of the Small and Medium Enterprises in Liaoning Province. Currently, the highly rapid development of the industrial clusters has converted into one of the most important powers to promote the areas of Liaoning Province to realize the development of economy.
The subjects of these industrial clusters in Liaoning province are mainly the small and medium enterprises at the present time. The enterprises, which are specializing in the production and processing of the same-type products or the products in the same industry or the products in the same upstream and downstream chains within the industrial clusters, can receive the business guidance consistently from the same professional industrial associations.
As a result, this will provide a good organizational condition for the mutual guarantee organizations, which regard the small and medium enterprises as the most important service objects.
Good Financial Environment in Liaoning Province. The financial ecological environment in Liaoning province is in a very good momentum of development under the current situation. In fact, this financial environment has released the positive effects in promoting the developments of financial industry ad economies in Liaoning province with a gradual step. As a result, this financial environment has laid a very important foundation for Liaoning province to develop the mutual guarantee financing mechanism at the present time and in the future.
Basic Framework for Liaoning Province to Develop the Mutual Guarantee Financing Mechanism
Most Fundamental Prerequisite. The mutual guarantee financing mechanism is an institutional arrangement in nature actually. Therefore, with the purpose of making the mutual guarantee financing mechanism effective in operation, it is necessary to meet the three most fundamental prerequisites that are shown in the following.
(1) The mutual guarantee organizations can acquire the information from the small and medium enterprises
(2) The purpose of the mutual guarantee organizations is not making profits
(3) It is necessary for the mutual guarantee organizations to be oriented at the high creditability and the high public benefit
Functional Orientation. In China, the credit guarantee system is mainly oriented at the policy credit guarantee at the present time.
However, the commercial credit guarantee system and the mutual credit guarantee system is still in the state of supplement. There is no exception for Liaoning province.
Development Objectives. There are mainly three objectives for Liaoning province to develop the mutual guarantee financial system.
(1) Changing the backward development state of the mutual guarantee organizations in Liaoning Province at a rapid speed
(2) Promoting the mutual guarantee organizations to be well-improved in standard operation
(3) Establishing the benefit promoting mechanism for the related participants of the mutual credit guarantee mechanism
Development Models. The multiple development models can be applied to the mutual credit guarantee mechanism.
Generally, the enterprises can take up the leading position to develop the mutual credit guarantee mechanism with the supports from the government and the industrial associations. It is necessary to attract the investments from the state actively, and play the joint financial role of the provincial, municipal and county governments at the same time. Besides, it is necessary to give assistance to a great number of the industrial clusters that meet the strategic demands of the economic development of the areas of Liaoning province.
Hence, the industrial clusters with the brand characteristics of Liaoning province can be established. In addition, through relying on the characterized industrial clusters and the guidance from the government, it is necessary to make the construction of the functions of the industrial associations improved.
Then, under the positive driving and extensive promotion of the industrial associations, it is necessary to construct the mutual credit guarantee financial service network system, which can meet the demands of the small and medium enterprises all over Liaoning province.
Policy Suggestions for the Establishment of the Mutual Guarantee Financial Mechanism in Liaoning Province
Increasing the Supports of the Government. First, it is necessary for the governments at all levels to be good at making use of the guiding role of policy and the control means of market. Second, it is necessary for the governments at all levels to require the departments such as bank and industry and commerce bodies to open their common credit information systems such as credit registration and annual inspection of industry and commerce bodies to the public, and provide the small and medium enterprises with an inquiry service to realize the information sharing. Third, it is necessary for the governments at all levels to attach higher importance to creating the favorable external environments for the development of the mutual credit guarantee organizations. Fourth, it is necessary for the governments at all levels to get a full understanding of the roles of policies-oriented credit guarantee organizations in balancing the prices of credit guarantee and stabilizing the credit guarantee industry. Fifth, it is necessary for the governments at all levels to make an enhancement to the supervision functions. Sixth, it is necessary for the governments at all levels to push the mutual guarantee organizations to establish cooperation with the banks actively.
Strengthening the Construction of the Profession Industrial Associations. First, it is necessary to clarify the relationship between the government and industrial associations and make the internal governance structure of the industrial associations improved well. Second, it is necessary to make the policies to fostering the development of the industrial associations. Third, it is necessary to make an enhancement to the construction of the profession industrial associations further. Fourth, it is necessary to clarify the functions and responsibilities of the industrial associations. For example, it is necessary for the industrial associations to know how become the bridge between the government and the enterprises, make the industrial self-disciplines, serve for the industries in their reach, and help the enterprises to develop new markets.
Improving the Construction of the Socialized Service System. First, it is necessary to increase the publicity and change the misconception in the socialized services. Second, it is necessary for the governments at all levels to give positive guidance to the small and medium enterprises, and encourage the scientific research institutions, higher learning schools and other relevant units to carry out the counseling services for the small and medium enterprises. Third, it is necessary for the governments at all levels to bring their leading and coordination functions in the information services into full play, and take full advantage of the advanced technologies such as computer networks to transfer the related polices and industrial information to the small and medium enterprises in time and facilitate the small and medium enterprises to acquire the related information within the shortest time.
Strengthening the Construction of the Credit Management System for the Small and Medium Enterprises. It is necessary to make an enhancement to the construction of the credit management system for the small and medium enterprises in Liaoning province, and recognize the functional orientation of the mutual credit guarantee system in terms of the construction of the credit system to increase the ability of the small and medium enterprises in Liaoning province to give resistance to market risks as well as their comprehensive competitiveness.
At the same time, it is necessary to strengthen the construction of the credit management system for the small and medium enterprises in Liaoning province to improve the social credit environment.
In addition, through the establishment of the credit counseling centers, it is necessary to encourage the insurance companies to make their insurance products innovative, develop the credit insurance business, and make a further improvement on the credit counseling and credit insurance systems, which have a very close connection with the credit management system.
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