主编： 熊曼琳 陈响园 记者：李丹超 王萌 摄像：王萌

editor: XiongManLin Chen ring garden reporter:LiDanChao WangMeng camera:WangMeng

　　张凯华 记者 ：李丹超 王萌熊曼琳摄像：王萌

ZhangKaiHua reporter :LiDanChao WangMengXiong mann elim camera:WangMeng

　　一、 大量资金撤出实业 百年企业轰然倒塌

a/ A lot of money out of industrial one hundred enterprise collapse with no time

　　2012年8月17号的上午，记者在鹿城区人民法院门口看到，短短的二十分钟，前来等候和参与民间借贷案件庭审的就有十多人。

August 17, 2012) morning,Reporter in lucheng district people's court to see the door,Just 20 minutes,To wait for and participate in folk loan case trial has more than 10 people.

　　借款人因无力偿还巨额的借款，被债主告上法庭。这样的民间借贷纠纷在温州每天都在发生。

By the borrower defaults huge borrowing,Be creditor to court.Such folk loan disputes in wenzhou happen every day.

　　被告方常常没有到庭。这是因为原被告一般来说都是同学、朋友关系，他们无法面对对方当事人。另一种情况，被告方本身就是资不抵债，负债率非常高，干脆就逃走下落不明。

Defence is often not to attend the court.This is because committed in general are classmates/friends,They can't face the other party.Another kind of circumstance,Defence itself is insolvency,Ratio is very high,Simply escape unaccounted for.

　　据温州市中级人民法院披露，2008年开以来，民间借贷纠纷案件收案数大幅增加。今年1至7月，全市法院民间借贷的收案12035件，相当于去年全年的案件数，比2007年增加了将近3倍，平均每天就要有56起民间借贷纠纷案件发生在温州这片土地上。今年同期收案的标的额是141.66亿元，结案标的额是81.88亿元，是去年全年的1.46倍，是2007年全年的24倍。

According to the wenzhou city intermediate people's court disclosure,2008 years since the open,Folk loan disputes increase activ number.This year to July 1,The court folk lending 12035 pieces of knowledge,Equivalent to the cases of last year,More than 2007 an increase of the nearly three times,On an average day will have 56 up folk loan disputes occurred in wenzhou this land.This year the community during the same period is $14.166 billion bid,Final bid is 8.188 billion yuan,Is 1.46 times that of last year,Is 2007 in the whole of 24 times.

　　鹿城区人民法院审判员吴春喻告诉记者，他们金融审判庭受理的150万以上的案件有很多。

Lucheng district people's court judges WuChun yu told reporters,They accept the financial trial of more than 1.5 million cases have a lot of.

　　8月14日，温州知名企业海鹤药业的老板叶可为因为民间借贷纠纷被警方正式批捕。记者赶到海鹤药业的工厂时发现，工厂的大门口聚集了一些不明身份的人。

On August 14,,Wenzhou famous enterprise sea crane pharmaceutical boss leaf can be because of folk loan disputes formally by the police of necessity.The reporter arrived sea crane pharmaceutical factory found,At the gate of the factory has gathered some unidentified man.

　　这些人聚在一起谈论着什么，还不时地对着海鹤的厂房指指点点。看到记者的镜头却马上躲开了。看守厂房的保安告诉记者，他们都是海鹤药业的债权人。

These people together to talk,From time to time, also to the sea crane workshop pointing fingers.See the reporter lens but away immediately.Keep plant security told reporters,They are all sea crane pharmaceutical creditors.

　　海鹤药业总经理管嗣开说，资金没有，断裂了，产品也没有了。左金丸、板蓝根都没有了，买不到了。说海鹤死掉了。

Sea crane pharmaceutical general manager GuanSi open said,Funds are not,breaking,The product is not.Left gold pill/Radix isatidis all have no,To buy.Said sea crane died.

　　他叫管嗣开，是海鹤药业的总经理，已经过了花甲之年的他，从一线工人到现在的总经理，在海鹤已经工作了四十多年。他告诉我们，在温州，几乎没有人不知道海鹤药业这家老字号的企业。它的前身是赫赫有名的“叶同仁堂(600085,股吧)”，创办于1670年，距今已有342年的历史，是当地的重点扶持企业。但是谁也没有想到，这样一个三百多年的老字号，短短一两年时间就垮了。

His name is GuanSi open,Is the sea crane pharmaceutical general manager,He has been 60,From the line workers to the general manager of the now,In the sea crane have been working for over 40 years.He told us,In wenzhou,There is no one but knows almost sea crane pharmaceutical the name of enterprise.Its predecessor is the famous"Foliaceous colleague hall(600085,guba)",Founded in 1670,It has a history of 342 years,Is the local key support enterprise.But no one has thought of,Such a three hundred years old,Just one or two years time is collapsed.

　　从2007年至2010年，海鹤药业曾三次易手。2009年，海鹤药业被转给一个担保公司的老板。后来由于经营艰难，又被转给了叶可为。原本以为这些老板资金雄厚，企业会有新的转机。然而事实并非如此，这些老板并不懂药业经营，企业的日子越来越不好过。

From 2007 to 2010,Sea crane pharmaceutical once three times to change hands.In 2009,,Sea crane pharmaceutical is a guarantee to the boss of the company.After the operation difficult,Was transferred to the leaf can be.Thought the boss abundant funds,Enterprise will have a new transfer.This was not the case, however,The boss didn't understand pharmaceutical business,The day of the enterprise is more and more difficult.

　　其实，海鹤药业原本经营状况很好，凭着百年老字号的品牌，业绩在行业内也是蒸蒸日上。但老板叶可为并没有坚守自己的本行，而是开始将大量的资金投入资本市场，甚至通过民间借贷进行投资，希望借此获得高额回报。

In fact,Sea crane pharmaceutical originally operating status is very good,With one hundred years old brand,Performance in the industry is thriving.But the boss leaves for did not stick to one's own line,But a beginning will a lot of money into the capital market,Even through the folk lending for investment,Hoping to get high return.

　　海鹤药业总经理管嗣开说，海鹤现在的负债是18个亿，这18个亿因为老板是搞融资这一块的。他没有投到海鹤去。

Sea crane pharmaceutical general manager GuanSi open said,Sea crane now the liabilities are 18,This 18 because the boss is make financing this one.He didn't pitch to sea crane to.

　　海鹤药业的困境在温州并非个例。鹿城区人民法院审判员吴春喻告诉记者，今年每个月民间借贷这一类型的案件大概能达到上百来件。上个月达到了150件，成倍的增长。

Sea crane pharmaceutical dilemma in wenzhou is not case-by-case.Lucheng district people's court judges WuChun yu told reporters,Every month this year folk lending this type of cases probably can reach hundreds of supplied parts.Last month reached 150 pieces,doubling.

　　二、温州民间借贷遭遇寒冬 寻找出路迫在眉睫

two/Wenzhou folk lending experience winter, looking for a way out is imminent

　　这里是温州中小企业集中地的龙湾区，经济金融领域违法犯罪案件多发。全区800余家民间担保、寄售行、投资公司等目前已基本歇业。

Here is the wenzhou small and medium-sized enterprises LongWanOu concentrated,Economic and financial field criminal cases of multiple.The more than 800 folk guarantee/Consignment line/Investment company has basic go out of business.

　　以勒钢管有限公司保安张师傅说，工人、领导自从他来到就一个也没有。

To le steel pipe co., LTD. Security zhang teacher said,workers/Since he came to leadership is not a.

　　这家名为以勒钢管有限公司的厂房已经被完全遗弃，目前只剩下一位法院派来的看管企业财产的保安。厂房已经被贴上封条，而它原来的办公室，电脑等一切设备都在，却已经积满了厚厚的灰尘。空荡荡的工厂内，只能看到一张破旧的法律公文上显示着，工厂2012年4月16日被法院正式查封，而以勒钢管有限公司的老板早已不见踪影。

The name to le steel pipe co., LTD. Workshop has been completely abandoned,At present only a court sent to the custody enterprise property security.Plant has been labeled as seal,And it's old office,Computer and all equipment are in,Have product filled with thick dust.Empty in the factory,Can only see a shabby legal document on the display,The factory April 16, 2012 by the court official closure,But by le steel pipe co., LTD. Boss disappears already.

　　以勒钢管有限公司债权人张光永说，他是去年年底过来，这边有几个副总经理都还在的。但是老板已经不在了。

To le steel pipe co., LTD., the creditor ZhangGuangYong said,He is come to the end of last year,There are several deputy general manager is in.But the boss has gone.

　　张光永在龙湾区经营一家生产钢管部件的小企业，以勒是他的长期客户。一年前他给以勒做配件加工，产品交货后，以勒以各种理由拖欠加工费。而以勒老板“跑路”之后，张光永的货款也石沉大海了。

ZhangGuangYong in LongWanOu management in the production of steel pipe parts of small businesses,To le is his long-term customers.A year ago he give le do processing accessories,After the delivery of the product,To le with all sorts of reason default processing charges.But by le boss"Run road"after,ZhangGuangYong payment of the also disappear forever.

　　张光永告诉记者，老板的电话一直打不通。

ZhangGuangYong told reporters,The boss's phone has been couldn't get through.

　　据了解，在中小企业聚集的温州市龙湾区，倒闭的企业就有29家，企业主出逃31人，涉及资金37亿元。放高利贷的“老高”出逃16人，涉及资金25.9亿元。其中江南皮革、三旗集团、港尚记、波特曼、天石电子等当地的一些知名民营企业早已人去楼空，仅是媒体公开报道的那些不知去向的温州企业主就已经达到了10多位。

It is understood,In the small and medium-sized enterprise gather LongWanOu wenzhou,Go bankrupt enterprise has 29 home,Business owners 31 people run away,Involved in capital of 3.7 billion yuan.Usury of"high"Escape 16 people,Involved in capital of 2.59 billion yuan.The jiangnan leather/Three flag group/Port is still remember/portman/Day stone electron, etc., some of the local famous private enterprise already deserted,Is only the media public reported those vanish into thin air of the wenzhou business owners have reached more than 10.

　　为了找到相关的当事人，记者先后多次尝试拨打温州信泰集团、蓝天大药房等几家涉及民间借贷纠纷的企业老板电话。但他们的电话一直处于关机状态。

In order to find the relevant parties,The journalist attempts to call letter wenzhou tai group/The blue sky big pharmacy etc several involving folk loan disputes enterprise boss telephone.But they phone has been in a state of shutdown.

　　叶小华告诉我们，像民间借贷纠纷这类案件中一人向多人放贷或举债，以及相互拆借的情况非常常见。同一个单位或个人同时在几个案件中成为被告，或者同一案件出现多个被告的情形非常普遍。传统的温州乡邻互助的融资模式遭遇了严峻考验，义气盛行的温州商人被迫反目成仇、远走他乡。

YeXiaoHua tell us,Like folk loan disputes such cases one more than to lend or borrow,And mutual lending situation is very common.The same unit or individual and in a few cases become the defendant,Or the same case more than in the defendant's situation is very common.The traditional financing model of mutual neighbor wenzhou suffered a severe test,Personal loyalty in the wenzhou businessmen were forced to become his enemy/away.

　　此外，在温州，随着民间借贷的规模发展而增大的还有担保公司。由于民营企业本身无法向银行出示同等价值的担保物来获得贷款资格，他们开始求助于更大风险、更高利息的担保公司。而随着民间借贷资金链的断裂，担保公司因此受到牵连，面临破产。

In addition,In wenzhou,With the development of folk loan scale and increasing and guarantee company.Due to the private enterprise itself can't to the bank show the same value of the collateral to obtain loans qualification,They began to turn to greater risk/Higher interest guarantee company.But along with folk loan fund chain rupture,Guarantee company so affected,Facing bankruptcy.

　　从这家已经倒闭的担保公司门外可以看到，它的面积大概有50平左右，还可以看出它倒闭前的奢华。而现在这间原本装潢考究的店面已经只剩下一堆垃圾。

From this has failed guarantee company door can see,Its area is about 50 flat or so,Still can see it just before it went bankrupt costly.And now the original packaging exquisite storefront has only a heap of rubbish.

　　从2009年以来，规模庞大的温州民间资本一直处于徘徊、等待、观望状态，在经历了股市、房地产、煤矿、基础设施投资上的一系列挫折后，最终转向高利润的民间借贷。据人民银行温州支行统计，温州参与民间借贷的资金从2010年的800亿，上升到2011年的1200亿。这些资金通过上市公司，典当行、寄卖行、担保公司等各种机构直线或者曲线参与民间借贷。温州大约89%的家庭、个人和59%的企业参与了民间借贷。2011年，信贷政策收紧，温州中小企业资金链开始断裂，大量企业倒闭，民间借贷问题频发，担保公司也随之拖垮。

Since 2009,The size of the wenzhou folk capital have been wandering/Waiting for/Wait-and-see status,After the stock market/Real estate/Coal mine/Infrastructure investment of a series of setback after,Finally turned to highly profitable folk loan.According to the people's bank wenzhou branch statistics,In wenzhou folk lending money from 2010 in 80 billion,Rose to 2011 in 120 billion.These funds through the listed company,pawnshop/JiMaiHang/Guarantee company, etc. Various kinds of institutions to participate in straight line or curve of folk loan.Wenzhou about 89% of the family/Personal and 59% of enterprises to participate in the folk loan.In 2011,,Credit policy tightening,Wenzhou small and medium-sized enterprise capital chain began to fracture,Large enterprise collapse,Folk lending frequent problems,Guarantee company also dragged down with it.

　　叶小华说，通过民间借贷的资金，社会上参与的资金的面比较广，人数也比较多。有的个别案件，他把家里所有亲戚朋友都牵扯进去。他资金链一断，成了被告，所有的亲戚朋友都成了被告，很多都是互保的。

YeXiaoHua said,Through the folk lending money,The society in the face of the funds is wider,The number is more.Some individual case,He put all their friends and relatives are involved.He capital chain a break,Became the defendant,All the friends and relatives have become the defendant,Many are the mutual insurance.

　　在温州，很多中小企业缺乏可供抵押贷款的资产，银行出于自身利益和金融资产安全考虑，对中小企业惜贷、压贷。对于部分已经获得贷款的中小企业，由于货币政策转变、银根收紧，银行在贷款到期后收回，不再续贷，小企业顿时陷入困境。

In wenzhou,A lot of small and medium-sized enterprises lack of available for mortgage assets,Banks out of their own interests and financial assets security consideration,For small and medium-sized enterprise arisen/Pressure credit.For some have get loans of small and medium-sized enterprises,Due to the monetary policy shift/Monetary policy tightening,Bank loan expires in back,No longer continue credit,Small business immediately get into trouble.

　　浙江大学金融研究所所长王维安说，企业在之前一直是负债率过高，远远超过了它的偿还能力。这样一种高负债率在以前经济形势好的时候，过高的负债反而体现了投的越多，赚的越多。是一种顺势而为，但是以前的这样一种冒险的成功，助长了今天的企业仍然是高负债高杠杆地在借款。一旦经济趋势发生逆转了，这样的风险就已经彻底暴露了，今天这样的风险就已经暴露了。

Zhejiang university financial institute director WangWeiAn said,Enterprise before is always had an exceptionally high debt ratio,Far more than its ability to repay.Such a high ratio in the past the economic situation is good,High debt instead of the more embodies the shots,Earn more.Is a kind of roll with the punches,But before the success of such a risk,Contribute to the today's enterprises is still high debt high lever in borrowing.Once the economic trend reversed the,The risk of such has been completely exposed,Today such risk has been exposed.

　　三、民营企业的老板们究竟出路何在？

three/The private enterprise owners exactly where is the outlet?

　　从2011年温州江南皮革、“百乐家电”等老板跑路开始，温州民间借贷纠纷似乎愈演愈烈。而海鹤药业无疑是涉及民间借贷纠纷中幸运的一个。8月14日，它的十几个债权人坐到了一起，共同讨论海鹤重组的事情。本来已经退休的管嗣开也重新回来主持工作了。

From 2011 wenzhou jiangnan leather/"Potluck home appliance"Wait for your boss to run road beginning,Wenzhou folk loan disputes seems to be intensified.And the sea crane pharmaceutical is undoubtedly involved in folk loan disputes in the lucky one.On August 14,,It's ten several creditor to sit together,Discuss the sea crane restructuring of things.Already retired GuanSi open back also presided over the work.

　　海鹤药业总经理管嗣开说，他今年是61岁。应该是退休了。但是他现在出面，就是凭着对海鹤这份感情。

Sea crane pharmaceutical general manager GuanSi open said,This year he is 61 years old.Should be retired.But he is bleeding,Is by the sea crane this sentiment.

　　海鹤药业总经理管嗣开告诉记者，当消费者到药店买海鹤左金丸的时候，药店说没有。这对他来说感觉有点耻辱。温州市人民要吃海鹤的左金丸，都找不到。他自己很内疚的，所以凭着这个感情。他一定要帮海鹤活过来，继续下去。

Sea crane pharmaceutical general manager GuanSi open told reporters,When consumers buy to drugstore sea crane left when gold pill,Pharmacy said there was no."For him, this will feel a little shame.Wenzhou people want to eat sea crane left gold pill,All can not find.He is guilty,So with the feelings.He must help sea crane come back to live,continue.

　　债权人召开会议共同讨论海鹤企业的重组问题，似乎让本来濒临破产的海鹤药业又看到了希望。但巨大的资金缺口让海鹤的生产仍然难以为继。

Creditors' meeting to discuss the sea crane enterprise restructuring of problem,Seems to make was on the verge of bankruptcy sea crane pharmaceutical and see the hope.But the huge funding gap let sea crane production is still difficult.

　　此次重组由当地政府牵头，这让深陷民间借贷纠纷的民营企业似乎又有了盼头。然而对于温州大部分涉及民间借贷纠纷的企业来说，如此巨大的摊子是否都能依靠政府对企业的重组来解决呢？

The reorganization of the lead by the local government,It makes deep folk loan disputes of private enterprise seems to have hope.Yet for most involved in wenzhou folk loan disputes for enterprise,Such a great stall see whether they can rely on the government to enterprise restructuring to solve it?

　　王维安说，政府采取这样一种重组的方式，是要把风险降到最低程度，他认为今天也不失为一个举措。但是这个措施不适合于今后凡是这一类的问题都通过这样一种方式去解决。这样会导致企业更加不注意风险，另一个当更多的企业面临这样的问题，政府不可能所有的的采取重组措施，以后也会酝酿更大的危机。

WangWeiAn said,The government to adopt such a way of restructuring,Is to reduce the risk to the minimum degree,He thinks today also can yet be regarded as a move.But the measures in the future is not suitable for all this kind of problems through such a manner to solve.This will lead to enterprise more do not pay attention to risk,Another when more enterprise facing these problems,The government may not all take restructuring measures,Later will also brewing more crisis.

　　为了对民间借贷的合法性和风险进行把控，尽力减少借贷双方的法律纠纷和借贷风险，温州市2012年4月26日成立了民间借贷登记服务中心，给温州中小企业提供了一种直接融资的模式。那么这样的模式能否给温州的民间借贷带来新的希望呢？

In order to the legitimacy of folk loan and the risk control,Try our best to reduce borrowing the legal disputes and credit risk,Wenzhou on April 26, 2012 founded the folk loan registration service center,Wenzhou small and medium-sized enterprises to provide a kind of direct financing mode.So this mode can you give wenzhou folk lending brings new hope??

　　民间借贷登记服务中心总经理徐智潜告诉记者，目前来说投资需求，就是民间借贷需求已经下降了。原来大家投资热情比较高涨，现在的能够缓一下还可以再缓一下。

Folk loan registration service center general manager XuZhiQian told reporters,For now investment demand,Is the folk loan demand has dropped.Originally you investment enthusiasm is high,Now can slow the return can again slow once.

　　在温州借贷登记服务中心我们了解到，挂牌4个多月，在登记中心的登记资金大约在9亿元，成交近1.3亿元。这与温州动辄上千亿的借贷量显得微不足道。

In wenzhou lending registration service center we know that,Listed more than four months,In the center of the registration of registered capital at about 900 million yuan,Clinch a deal the nearly 130 million yuan.This and wenzhou frequently hundreds of billions, lending quantity appear insignificant.

　　据温州银监分局对一般社会主体和小额贷款公司的监测显示，2012年7月份，温州民间借贷利率达15.415‰，已经连续6个月下降。

According to wenzhou branch silver prison for general social subject and small loan companies monitoring display,In July 2012,Wenzhou folk loan interest rate 15.415 ‰,Have continuous 6 months of decline.

　　这场民间借贷风波使正常的民间借贷活动陷入低潮，引发的信用危机，较大程度上降低了个人与个人、个人与市场主体、市场主体之间的信用度，呈现出不但民间借贷存量快速萎缩，新的正常的民间借贷行为也无法开展。

The folk loan storm make normal folk lending activity in low water,Caused by the credit crisis,Large extent reduced the personal and individual/Individual and market main body/The creditworthiness of between market subjects,Presents not only folk loan stock quickly atrophied,The new normal folk lending behavior cannot carry out.

　　温州金融改革仍然在尝试当中，王维安认为，这将为民间资金安全有效地流动提供重要参考。

Wenzhou financial reform is still trying to of,WangWeiAn think,This will be for folk capital safety effectively flow to provide important reference.

　　王维安认为，核心要解决的问题，就是让温州富余的民间资金怎么去满足融资困难的中小企业的需求。不是在于民间借贷规范不规范，这只是另一个问题。怎么样打通富余的民间资金转化为那么多中小民营企业的融资需要这之间的桥梁，这是我们核心要解决的问题。　　

WangWeiAn think,The core problems to solve,Is to make the wenzhou folk capital surplus how to meet the financing difficulties of small and medium-sized enterprise demand.Not in folk lending standard is not standard,This is just another problem.How to get through the folk capital surplus into so many small and medium-sized private enterprise financing need this bridge between,This is our core problems to solve.