特约记者 滕昶 发自温州、杭州 Special reporter TengChang from wenzhou、hangzhou

　　去年下半年以来，浙江省不少企业，被卷入到多个互保圈中。就像平静海面下的漩涡，浙江境内各个崩坏的互保圈正在将越来越多的企业卷入其中。资金链断裂、银行抽贷、供货商催债，甚至开始蔓延到经营状况良好的健康企业身上。

Since the second half of last year，Many enterprises in zhejiang province，Was involved in the more mutual insurance in the circle。Like the sea calm the whirlpool，Zhejiang each collapse within the territory of the circle each other is more and more enterprises involved。Capital chain rupture、Bank lending a、Dun suppliers，Even start to spread to operating conditions of good health enterprise body。

　　与此同时，浙江各地，正在进行着一场“看不见的救火运动”。无论是温州、杭州萧山，还是东阳、诸暨，各地政府纷纷用数以亿计的地方财政，设立应急转贷专项资金，为企业度过贷款危机。

At the same time，Zhejiang all over the，Now a“See also the movement”。Whether wenzhou、Hangzhou xiaoshan，Or dongyang、zhuji，Governments around the world have with hundreds of millions of local finance，Set up emergency ZhuanDai special funds，For enterprise through loan crisis。

　　用地方财政拯救民营企业，让各地政府保持着“只做不说”的低调。对企业而言，转贷正规化后，不再需要去非正规渠道找钱，降低了融资成本和风险，但同时也伴随着授信被银行降低的可能。

With the local finance save private enterprises，Governments around the world to remain“Only do not say”low-key。For the enterprise to，After ZhuanDai regularization，No longer need to go to regular channel change，Reduce the financing cost and risk，But at the same time is also associated with reduced by the bank credit may。

　　一场“看不见的救火行动”正在浙江展开，究竟能取得怎样的成效，还有待时间的考证。

a“See also the action”Is zhejiang on，What can obtain the effectiveness of how，The time remains to be proven。

　　

十亿转贷资金援助温州民企 Billions ZhuanDai aid wenzhou corporation

　　每趟在深夜抵达温州新火车站的动车，总会经过这样一段奇异的景色—本应一片漆黑的车窗外，亮着密密麻麻的红色灯光。这些全是温州各类民营企业厂房楼顶的灯箱。

Every trip arrived in wenzhou new railway station in the middle of the night, the dynamic car，Always after such a strange scenery-this should be a dark window outside，On bunches of red light。These are all wenzhou private enterprises plant all kinds of the floor of the light boxes。

　　每到夜晚，无论是做服装皮革，还是生产齿轮拉链的企业，全都变成了这一盏盏灯箱。这样的场景，要在以往，会被看做是“世界工厂”兴旺繁盛的证明。但是今天，每盏灯箱的前景，似乎都变得扑朔迷离起来—据浙江省工商局统计，今年上半年浙江全省1200多家企业歇业。在温州，更是有8.1%的企业出现了停工、半停工和倒闭现象—灯，随时有熄灭的可能。

Every night，Whether do garment, leather，Or production of gear zipper enterprise，All into the station light boxes。Such scenes，In the past to，Will be seen as“The workshop of the world”Prosperity prosperous proof。But today，The prospect of every lamp light box，Seem to have become bewildering up-according to zhejiang industrial and commercial bureau statistics，In the first half of this year more than 1200 enterprises in zhejiang province suspension。In wenzhou，But 8.1% of the enterprise appeared to stop、Half a shutdown and collapse phenomenon-the lamp，Out of the may at any time。

　　与浙江其他城市一样，温州市政府出台了一系列措施，帮助企业渡过难关。除了减免税费、简化办事流程等一些常规手段以外，设立温州市区企业应急转贷专项资金，被看做是一项最直接手段。

Zhejiang province and other cities，Wenzhou municipal government has issued a series of measures，Help enterprises to get through。In addition to reducing taxation、The simplified management process and so on some other than conventional means，Wenzhou city emergency ZhuanDai enterprise set up special funds，Seen as one of the most direct means。

　　该资金由温州市政府出资设立，帮助温州市企业解决到期银行贷款转贷资金周期的困难。据了解，去年10月设立的转贷资金规模为5亿元，先予拨付2亿元。不久，该资金的规模被扩大到10亿元。

The money invested and set up by wenzhou municipal government，Help enterprises to solve the wenzhou city bank loans ZhuanDai capital period expires the difficulties。According to understand，Last October, the establishment ZhuanDai capital size is 500 million yuan，First allocated to 200 million yuan。soon，The money was expanded to the scale of 1 billion yuan。

　　根据实施办法，这笔资金主要用于帮助主营业务稳定，因对外提供担保、履行担保义务而引发资金链断裂的企业；或因融资余额较大，在多家银行融资且担保链复杂，易引发连锁反应，对行业及温州龙头企业产生较大影响的企业等。企业使用专项资金的时间不超过5个工作日，同期应急转贷总额原则上最高不超过2000万元，费用参照同期银行贷款利率，由受委托银行一次性足额向企业收取。

According to the measures for the implementation of the，The money is to help main business is stable，For providing guarantee、To guarantee obligations and cause of rupture of capital chain enterprise；Or by the financing balance is bigger，In many Banks financing and guarantee chain complex，Easy cause a chain reaction，Of the industry leading enterprises and wenzhou great impact on enterprise, etc。Enterprise use special funds for no more than five working days，The total amount of the same period ZhuanDai emergency in principle is highest do not exceed 20 million yuan，The bank for the same period cost consults loan interest rate，Entrusted by the bank to enterprise once in full charge。

　　温州市政府一位工作人员告诉时代周报记者，目前为止，应急转贷资金已经面向温州市的企业发放100多笔。

Wenzhou municipal government a staff told times weekly newspaper reporters，So far，Emergency ZhuanDai funds has been facing the enterprise issued more than 100 wenzhou pen。

　　在杭州萧山，同样的帮扶措施也在进行着。杭州萧山区设立5亿元的政府应急专项资金，为萧山区本土企业解决融资贷款难题。根据《21世纪经济报道》消息，这5亿元的资金，全部由萧山区财政出资。

In hangzhou xiaoshan，The same supporting measures also on。Hangzhou xiaoshan area set up 500 million yuan of government emergency special funds，For local enterprise financing xiaoshan district, solve problem loans。According to《21 century economic report》news，The $500 million fund，By all the xiaoshan district financial capital contribution。

　　

正规转贷降低企业融资风险 Regular ZhuanDai reduce enterprise financing risk

　　温州市联银融资担保有限公司项目经理陈群告诉时代周报记者，融资担保领域的转贷业务，在温州是近段时间才开始实现正规化的。

Wenzhou lian silver financing guarantee Co., LTD, the project manager ChenQun told times weekly newspaper reporters，In the field of financing guarantee ZhuanDai business，In wenzhou is nearly time began to realize normalization。

　　此前，企业在面临银行催贷时，只能到社会上去寻找“过桥费”。但是“过桥费”往往意味着高额的服务费或利息，“有时甚至是高利贷”。

after，Enterprise in the face of the bank when push loan，Only the society to come up looking for“toll”。but“toll”Often means that high service charge or interest，“Sometimes even usury”。

　　2011年，温州市政府不仅出资设立转贷资金，还下发《关于做好融资性担保公司应急转贷服务工作的通知》，引导有信用有实力的融资担保机构开展转贷应急业务。联银融资担保便在此后增设了应急转贷业务。目前为止，该公司已经发放了16笔，共计2883万元转贷资金。

2011 years，The wenzhou city government not only invest to set up ZhuanDai funds，Also issued《The preparation for financing guarantee emergency ZhuanDai service work notice》，Lead to credit strong financing guarantee agencies in ZhuanDai emergency operations。United silver financing guarantee and then add in the emergency ZhuanDai business。So far，The company has been issued and pen，A total of 28.83 million yuan ZhuanDai funds。

　　在陈群看来，转贷业务的出现，正好符合企业“短贷长用”的现状。

In ChenQun seems，ZhuanDai business to appear，Exactly the enterprise“Short loans with long”Present situation of。

　　“企业为了扩大生产，往往把流动资金贷款投到固定资产投资上去。因为固定资产贷款是很难申请到的。”陈群说，这一情况，在前几年货币政策松的时候，尤为明显，“银行往往也鼓励企业多贷款，以扩大企业规模。”

“Enterprise in order to expand production，The working capital loans often cast to the fixed assets investment up。For fixed assets loan is difficult to apply to。”ChenQun said，The situation，In the last few years loose monetary policy，Is especially clear，“The bank also often encourage enterprise more loans，In order to enlarge the scale of the enterprise。”

　　但是由于投到固定资产上的投资，并不是短期内就能获得回报的，当货币政策收紧时，企业便没有足够的资金来还贷。“现在企业利润那么薄，资金回笼速度大大减慢，一年期的贷款，很难还得上。”

But as for fixed assets to investment，And is not the short term can reap the rewards，When monetary policy tightening，Enterprise will not have enough capital to payments。“Now enterprise profit so thin，The money collecting speed slow down considerably，One-year loan，Difficult to have on。”

　　因此，很多企业便只能“拆东墙补西墙”，用社会资金来偿还银行贷款，高利贷、互保圈也就随之出现。

so，A lot of enterprise and can only“Robbing Peter to pay Paul”，With the social funds to pay back the bank loans，usury、The circle each other also appears。

　　相较于传统的民间融资，转贷显然更为有保障。其操作流程是：在银行承诺在一定期限内为企业续贷的前提下，由担保方垫资为企业偿还贷款。在银行向企业发放全部贷款后，这笔贷款应直接转账至担保方指定的银行账户，用于归还担保方的转贷资金。从整个操作流程看，企业除了服务费以外，没有出一分钱，但是其还贷期，事实上已经延长了一个周期。

Compared with the traditional folk financing，ZhuanDai obviously more is guaranteed。The operation process is：In the bank is committed in the certain period for enterprise renewal under the premise of loan，By DanBaoFang mat endowment for enterprise to repay the loan。In the Banks to issue loans after all enterprise，The loan should direct account transfer to DanBaoFang designated bank account，Used for the ZhuanDai DanBaoFang return money。From the whole operation process look，Enterprise in addition to outside service charge，Not a penny，But the loan period，In fact have extended a cycle。

　　“整个转贷流程走下来，企业需要支付的服务费，不会高于国家规定的4倍银行利率。”陈群说。

“The whole ZhuanDai process go down，Enterprise need to pay the service fee，Not higher than to the provisions of the state bank interest rates four times。”ChenQun said。

　　“这样的操作流程，使得资金直接在银行和担保方之间流动，避免企业拿到还贷资金却不还贷的风险。”温州一家担保公司的工作人员告诉时代周报记者。

“Such operation，Make money in the bank and DanBaoFang directly between the flow，Avoid enterprise to get the loan is not borrowed money but the risk。”Wenzhou a guarantee company staff told times weekly newspaper reporters。

　　

申请转贷是企业无奈之举 Apply for ZhuanDai is the enterprise with trepidation

　　“银行的续贷承诺书，是转贷能否成功的关键。”陈群说。为此，温州市政府专门拟定了《融资性担保公司应急转贷资金服务操作指引》（下称《指引》）。在时代周报记者得到的《指引》中，第一份附件，便是由温州市经信委、银行以及融资性担保公司签订的三方合作协议框架。

“Bank lending to undertaking，ZhuanDai is the key to success。”ChenQun said。For this，The wenzhou city government has drawn up《Financing guarantee emergency ZhuanDai financial service operation guidelines》（Said the《guidelines》）。In the era of the weekly newspaper reporters get《guidelines》in，The first enclosures，The committee consists of wenzhou letter、Banks and financing guarantee company of the three parties signed a cooperation agreement framework。

　　这份协议，要求与融资性担保公司合作的银行，协调本行及上级行相关信贷政策，确保《续贷承诺函》所承诺的应急续贷资金及时到账，并实时划入丙方指定账户，保证应急转贷资金安全。

The agreement，Requirements and financing guarantee company cooperate the bank，Coordinate the bank and the bank at the next higher level related credit policy，Ensure that《Renewal loan agreement》Promised to emergency in time to borrow fund account，And real time into account appointed by party c，Guarantee emergency ZhuanDai capital safety。

　　申请转贷虽然成本低、风险小，但是“对企业而言，申请转贷，是没有办法的办法。”陈群这样告诉记者。事实上，企业之所以要去社会上找“过桥费”，还有一个很重要的原因，便是不希望银行对其资金状况产生怀疑。

Apply for ZhuanDai although the cost is low、Small risk，but“For the enterprise to，Application ZhuanDai，There is no way to approach。”ChenQun told reporters。In fact，Enterprises have to find on society“toll”，There is a very important reason，Is don't want Banks to its finances suspicion。

　　但是一旦企业向政府、融资担保机构或者银行申请转贷，银行必然会怀疑企业的融资能力。为此，温州市经信委承诺，企业申请应急转贷资金，绝对不影响企业在银行的信用等级，相关银行、联络组及有关单位更不得随意泄露企业情况。

But once the enterprise to the government、Financing guarantee institutions or Banks for ZhuanDai，The bank will doubt enterprise financing ability。For this，The committee of wenzhou letter commitment，Enterprise application ZhuanDai emergency funds，Absolutely not influence the enterprise in the bank's credit rating，Related bank、LianLaoZu and relevant units shall not disclose more at the enterprises。

　　“表面上看授信等级是不受影响，但经手银行今后会不会对这些企业多个心眼，就很难说了。”一位不愿透露姓名的消息人士向记者表达了自己的忧虑。

“On the surface credit grades is not affected，But the bank will in future deals to the enterprise many heart，Is hard to say。”One does not wish to disclose the source told reporters the name express their concerns。

　　同样的忧虑，也在联银担保得到了印证。“有转贷需求的企业一定很多，但是真正愿意走正规流程来申请转贷的，现在看来，并不是太多。”陈群说。

The same concerns，Also in the league silver guarantee got confirm。“ZhuanDai have the needs of enterprises must be many，But the real are willing to go to apply for the ZhuanDai formal process，Now it seems，And not too much。”ChenQun said。

　　

财政垫资尚需制度监督 Financial mat endowment system is needed to supervise

　　据了解，目前浙江省除了温州、萧山以外，如衢州、湖州、义乌、东阳等多个市、区级政府出资设立了应急转贷专项资金。

According to understand，Now in addition to wenzhou of zhejiang province、Xiaoshan outside，Such as quzhou、huzhou、yiwu、Dongyang, and other city、The district government invested and set up the emergency ZhuanDai special funds。

　　事实上，政府出资设立转贷专项资金，并不是一项自上而下的政策。至今为止，浙江省级层面，也并未出台过相应文件要求地方政府出资，为企业提供转贷服务。各地牵头操作转贷资金的，也不全是一个系统内的部门。萧山区主要由财政局操作，温州市则由市经信委操持，而东阳市甚至由组织部下设的企业工委来主管转贷资金的运作。

In fact，The government invested and set up ZhuanDai special funds，And not a top-down policy。So far，Zhejiang provincial level，Also has not released the relevant documents required local government capital contribution，To provide enterprises with ZhuanDai service。ZhuanDai operation of funds to lead all over，It's not all a system within the department。Xiaoshan area mainly by the bureau of finance operation，Wenzhou is the committee conducted by the letter，And even from the organization department under the dongyang enterprise to the competent ZhuanDai capital of the steering committee operation。

　　与此同时，各地转贷资金的设立，也都显得较为低调。在记者的采访过程中，不少地方政府对此态度暧昧。“大家都在默默地做，谁也不想说。”萧山区财政局一位不愿具名的官员告诉时代周报记者，目前萧山区甚至对内达成了“只做不说”的共识。

At the same time，ZhuanDai all over the establishment of funds，Also appear relatively low-key。In the reporter's interview process，Many local governments ambiguous attitude。“Everyone in obscurity，Who also don't want to say。”Xiaoshan district finance bureau one anonymous officials told The Times weekly newspaper reporters，Now even internally xiaoshan district reached“Only do not say”consensus。

　　由地方财政出资，为部分民营企业过关。对社会舆论而言，这样的操作模式显得过于敏感，并且有一定的风险。

By local finance capital contribution，For part of the private enterprise level。As for public opinion，This operating mode appear too sensitive，And have some risk。

　　浙江大学金融投资研究中心主任金雪军认为，如果政府将这类直接为企业垫资的行为，当作是一个长期，但是非制度化的帮扶措施，肯定不合理，“但是如果专门成立一个风险性的担保基金，就另当别论了”。

Zhejiang university financial investment research center director JinXueJun think，If the government will this kind of direct for enterprise mat endowment behavior，As a long term，But the institutionalization of supporting measures，Must not reasonable，“But if specially established a risk guarantee fund，Is another matter”。

　　在金雪军看来，政府出资帮扶企业，如果是为了将企业和社会经济的损失最大程度地减少，并不是不可以。“有的企业，主业做得很好，纳税很高，还能解决很多就业，就是因为帮别人担保出问题了。这样的企业，就该救！”

In JinXueJun seems，The government is contributive to assist enterprise，If to be enterprise and society of economic loss to minimize，And not can't。“Some enterprises，Its main business do very well，High tax，Also can solve a lot of employment，It is because help others to guarantee the problem。This enterprise，The save！”

　　为此，金雪军建议，政府可以考虑将目前各自为阵的“应急转贷资金”转变为一个制度性完备的基金，“基金的运作方式，哪些企业可以申请，这些情况，都要加以说明。”金雪军说，“财政的钱，不能只解决一部分企业，要用得透明、公开。”必要的时候，甚至可以召开听证会，邀请公众代表、银行代表等人士，一起参与，来讨论到底要不要帮助这些企业。

For this，JinXueJun Suggestions，The government would consider current deadlock respectively for“Emergency ZhuanDai funds”Into a systematic complete fund，“Fund mode of operation，What are the enterprises can apply for，these，Will to illustrate。”JinXueJun said，“Financial money，Can not only solve the part of the enterprise，To use transparent、public。”necessary，Even a hearing，Invite public representatives、People such as a representative of the bank，Participated in together，To discuss whether or not to help the enterprise。