Sparing no effort to promote the development of the hardware industry Zhejiang Yongkang economy outstanding performance in the first half of this year. According to the semi-annual analysis report of private enterprises released by the Yongkang Industry and Commerce Bureau, Yongkang private enterprises have steadily increased against the market. In the first half of the year, none of the above-scale enterprises reported cancellation or suspension of production. Some seized the opportunity and accelerated the pace of development. According to statistics, the number of private enterprises increased in the first half of the year was 3.7 times the number of extinctions, and the registered capital of the increase was 9 times the number of write-offs. “The contrast between this increase and decrease shows that the signs of Yongkang’s economic recovery are very clear.†This is closely related to ICBC Yongkang Branch’s efforts to serve the hardware economy, and its contribution has contributed to the promotion.
According to reports, there are more than 9,000 production companies in Yongkang, and their exports are about 70%. Affected by the international financial crisis, exports were blocked and expanding domestic demand was a common phenomenon. From January to May this year, the total export volume totaled 70,162 million US dollars, a year-on-year decrease of 19.43%, and 3.28 percentage points lower than the average level of the city of Jinhua.
Under the complex and ever-changing operating environment, the ICBC Yongkang Branch strives to serve the hardware economy. To protect the hardware industry of Yongkang from the predicament as soon as possible, the credit funds are mainly invested in the small and medium-sized enterprises that produce the main body, and the basic industries that build the hardware platform and the individuals of the public. . As of the end of June, the bank’s outstanding balance was 7.28 billion yuan, ranking first among local financial institutions for seven years in a row, and an increase of 1.316 billion yuan from the beginning of the year, accounting for 25.39% of the financial institutions of four state-owned commercial banks.
The ICBC Yongkang Branch's investigation and analysis of Yongkang's export-oriented enterprises found that the proportion of Yongkang-owned enterprises with independent technology, independent brands, and certain bargaining power is not high. Most enterprises’ losses caused by the reduction of export tax rebate rate are mainly internal digestion, which affects companies. Profit margins; SMEs with weak prices as the main means of competition, relying on tax rebates to maintain profit levels, and weak bargaining power are facing the test of survival.
Therefore, on the one hand, the bank actively innovates service methods, conducts trade** product portfolios, and provides services for customers on domestic and foreign trade ** such as export invoices**, export bills, and forfaiting, to solve customers' financial difficulties; On the other hand, trade-oriented training was organized for export-oriented enterprises to enhance the operating capabilities of export-oriented enterprises and played an important role for companies to avoid exchange rate risks and business risks.
Since the beginning of this year, exports of export-oriented enterprises of Yongkang Hardware have been hindered. In particular, the export situation of security doors and electric tools industry has become more severe. The business difficulties and financing needs have increased significantly. However, domestic market sales have continued to be tapped. In response to these characteristics, ICBC Yongkang Branch believes that after years of development, Yongkang hardware companies have established relatively complete sales networks and good reputations throughout the country, and the suppliers always come and go. However, due to the limitation of credit limits and lack of mortgage guarantees, liquidity shortages and business difficulties are more common.
From the beginning of May this year, ICBC Yongkang Branch vigorously promoted the domestic factoring business and achieved rapid development. By the end of June, 87 transactions had been processed for 53 companies, amounting to 339 million yuan. The domestic factoring business is for the domestic sales party (creditor) to transfer to the bank the receivables arising from the sale of goods, services, or other reasons by the domestic buyer (debtor), which is provided by the seller. Accounts Receivable** and comprehensive financial services for commercial credit investigation and accounts receivable management. Not only can it effectively help companies break through the limits of credit limits and lack of mortgage guarantees, but they can also save corporate financial expenses and can effectively adjust their own credit structure. It is a multi-product product.
It is reported that from January to June of this year, the ICBC Yongkang Branch’s cumulative number of enterprises issued new export invoices of RMB 23 million, orders of RMB 6.65 million, letters of credit of RMB 1.3 million and domestic factoring of RMB 1.08 million.