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Submitted by: Lanbo Jiang
Guangdong Province, the first village bank, Zhongshan Xiaolan Town Bank opened for business. The bank by the holding of Jiujiang City Commercial Bank launched the trial has been running for nearly a year.
Village banks and bankers in Bangladesh economist Muhammad? Yunus created, called the world’s most successful model of a rural finance. Because “from the bottom to promote economic and social development efforts”, he was awarded the 2006 Nobel Peace Prize. Last year, China began to develop from the village bank, has now been established in many provinces, village banks.
According to the authoritative definition of domestic, rural banks is in accordance with relevant laws and regulations, the domestic and foreign financial institutions, domestic non-financial institutions, corporate legal persons, natural persons within the investment, mainly in rural areas set up for local farmers, agriculture and rural economic development to provide financial services banking financial institutions.
China supports the establishment of village banks are building a new socialist countryside, rural areas with low coverage of banking and financial institutions, financial issues such as inadequate supply of innovations. Village banks, can effectively solve the lack of local financial supply, improve the local financial services to ease the contradiction between supply and demand of microfinance issues in order to promote SME development and growth, to better support the general income families to speed up development and prosperity and promote the people business. Also help to reduce borrowing and acts of civil private funding, stable rural financial order and reduce financial risks.
It is understood that the scope of bank lending, Zhongshan Xiaolan town, and is not limited to Xiaolan Town, but can also lend to the surrounding townships. This means that town, cross bar and other advanced lighting industry, the town could benefit from the bank. We know, Zhongshan City Lighting industry cluster mainly in Xiaolan Town, Guzhen Town, and cross bar, the lighting industry is expected to “proximity and easier,” village banks receive strong financial support. Moreover, compared with the general commercial banks, rural banks lowering the threshold for loans, flexible lines of credit, loans, faster, able to meet most of the SMEs and individual entrepreneurship in the normal financial needs.
In this so-called “winter”, a lot of lighting companies are feeling the pressure of funds, after all, the majority of SMEs in the lighting industry. In fact, even greater than now, that is, usually, many enterprises do not suffer from financial constraints want to do. Since the majority of SME credit, financial condition and other aspects are not enough, the general commercial banks are reluctant to lend money to them, for fear of risk. Therefore, we can often see reports on SME financing difficulties, the recent introduction of the policy at all levels of government to help SMEs finance again, but the commercial banks is the “thunder, little rain,” many companies often inaccessible to the copies only.
Should be noted that, Zhongshan City Lighting industry, families, workshop-style corporate few, they also have a strong development aspirations; there are many professionals who are also planning to start, but have insufficient funds. Private finance may be a solution, but also contains a number of risk factors. The village banks are able to help, and to minimize financial risks.
Lighting industry, smaller, less capital investment is an important factor. Lighting industry has relied on endogenous development, through the slow accumulation of capital to achieve expansion, not only slow, but also inhibit innovation. In the future, to more channels by exogenous developments, mergers, market, attract investment, are all good idea, but for most SMEs, the timely availability of necessary financial and credit support is the most realistic and most urgent. The establishment of village banks for the general lighting business and entrepreneurs opened a way out.
However, the lighting industry to rely on their own capital accumulation and non-financial development, in the face of new financial innovations, it is really necessary to change attitudes and habits, and gradually accept the new things, so not only conducive to the development of SMEs, but also conducive to China’s financial industry development.
Currently, Zhongshan City Lighting industry cluster development has entered a new phase, new opportunities and new challenges, especially in 2008 on the promotion of industrial restructuring, there is need for the financial industry to play an active role in the manufacturing sector. We hope that, after opening in Siu Lam village banks, can provide a temporary relief Zhongshan lighting industry cluster, icing on the cake.
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