文/ 本刊记者 肖妍茹

The/this reporter XiaoYan shavings

　　据说每个温州的企业家都有一颗想做金融的心，然而温州金改的步伐并没有想象中的快。近5个月过去了,有关金改的细则迟迟未能露面。而温州的金融也随着这轮的经济下行再次危机四伏。

It is said that each wenzhou entrepreneurs have a want to do financial heart,Wenzhou gold, however, the pace of change and not imaginary fast.Nearly five months later,The gold change rules can fail to show up.Wenzhou's financial also with this round of economic crisis down again.

　　用自己的钱救自己 With their own money save himself

　　温州金融改革在今年春天正式拉开了序幕。3月28日，国务院常务会议决定设立温州市金融综合改革试验区，批准实施《浙江省温州市金融综合改革试验区总体方案》。

Wenzhou financial reform in this year spring official of the curtain was opened.On March 28,,The state council executive meeting decide to establish a wenzhou financial comprehensive reform pilot area,For approval[Zhejiang wenzhou financial comprehensive reform pilot area overall scheme].

　　对于已确定的改革的十二项主要任务，大家正期盼着进一步细则的出台。据温州金融办主任张震宇7月下旬在上海的招商推介会上所说，温州金改的细则已上报浙江省金融改革领导小组审阅，最近即将公布。既然细则未至，各界讨论的焦点如小额贷款公司转成村镇银行、怎样建立温州地方金融监管制度等内容依然“犹抱琵琶半遮面”。

For the reform of has determined the twelve major task,We are looking forward to further rules come on stage.According to wenzhou financial do director ZhangZhenYu late July investment promotion meeting in Shanghai said,Wenzhou gold change rules of zhejiang province has reported financial reform leading group review,Recently announced the.Since the rules, not to,The focus of the discussion from all walks of life such as small loan companies into town bank/How to establish a wenzhou local financial supervision system content still"Embrace of pipa half block surface".

　　实际上，被称作“敢为天下先”的温州人一直在进行金融改革——自1980年10月苍南县金乡农村信用社首开全国先河，实行存贷款浮动利率开始，温州的金融改革之路已走过32年。

In fact,called"Being "dare to"The wenzhou people have been in financial reform - since October 1980 rural credit cooperatives cangnan jinxiang first on the national first,A floating interest rate loans started,Wenzhou's financial reform road has passed through 32 years.

　　然而，现实却是温州金融业的发展远远落后与实体经济。一方面是民间资本泛滥过剩，一方面却是企业融资困难、资金链断裂、老板跑路。显然，温州金融渠道已经发生了内在的经脉不通。在经历了去年令人目眩的资金链断裂、老板跑路等事件之后，温州这个中国市场经济的发祥地，向何处去的问题，被提了出来。

however,The reality is far behind the development of wenzhou financial sector and real economy.On the one hand is the folk capital overflow excess,On the one hand is enterprise financing difficulties/Capital chain rupture/The boss run road.obviously,Wenzhou financial channels has been inner meridians impassability.Experienced in the last year of dazzling capital chain rupture/The boss run road after the event,Wenzhou the Chinese market economy birthplace,The problem of where to go,Was raised.

　　一位温州人曾对记者戏言，“最近温商流行跑路”，而金改可能是温州一次自我救赎的机会。7月底上海一场主题为“温州金融综合改革中的法律和监管问题”的研讨会上，温州市中小企业发展促进会会长周德文说，温州也许是因祸得福，有人把温州的改革看作是温州用自己钱来救自己的企业，他觉得这样很好，所谓金融改革就是要用金融的平台、金融的手段把大量闲置金融资金集中起来支持实体经济，救他们于水火之中。

A wenzhou people once told the reporters jeu,"Recent temperature quotient popular run road",While the gold change may be wenzhou a chance to redeem themselves.The end of July, a Shanghai farmers"Wenzhou financial comprehensive reform the legal and regulatory issues"seminar,Wenzhou small and medium-sized enterprise development council for the promotion of messina President said,Wenzhou might be a blessing in disguise,Someone put the wenzhou reform as the wenzhou with their own money to save his enterprise,He felt that it was good,The so-called financial reform is to use financial platform/Financial means a large number of idle financial centralized fund up to support the real economy,Save them in of fire and water.

　　资料显示，截至今年2月末，温州出走企业达234家，涉及银行授信余额40.72亿元；在面对巨大资金压力的同时，温州的中小企业今年更要面对罕见的“订单荒”。2月份温州外贸出口5.14亿美元，同比减少30%，而上半年温州有六成规模以上工业企业出现减产停产。

Data shows,By the late February,Wenzhou flee enterprise amounted to 234,Involved in bank credit balance is 4.072 billion yuan;In the face of huge capital pressure at the same time,The wenzhou small and medium-sized enterprises this year will face more rare"Order drought".February wenzhou foreign trade export $514 million,Reduced by 30% year-on-year,And sixty percent in the first half of wenzhou industrial enterprises above designated size production in production.

　　企业热情消退 Enterprise enthusiasm subsidise

　　周德文说温州人对办银行情有独钟，这让人印象深刻。他颇以温州为自豪，那里曾设立了第一个私人钱庄以及出现第一家城市信用社，然而这在短暂的辉煌后就被迫销声匿迹了。

Messina said wenzhou people have a special liking for running the bank,This impressive.He's pride in wenzhou,There was the establishment of the first private Banks appear and the first city credit cooperatives,However, this in the short period of brilliant after they were forced to vanished.

　　在他看来，他们对金融领域总是有一份向往之情， “温州人有很强的金融情结，都想成为金融家。”这个在温州被称为“民间资本代言人、中小企业守护神”的会长如此说道。

In his view,They always have the financial sector a yearning of love, "Wenzhou people have strong financial complex,All want to become a financier."This is called in wenzhou"The folk capital spokesperson/Small and medium-sized enterprise patron saint"The President said.

　　4月份，温州成立了民间借贷登记服务中心，这被认为是在全国创立了民间借贷“备案制”的先例，也正是温州金改十二项主要任务的第一条。但周德文提起显然不够满意。根据他给出的数据，这个中心到研讨会那天为止交易的是8000多万，与温州民间借贷规模1200亿相比，显然是太少。他建议可以允许借钱的企业将民间借贷利息计入成本，这样登记的意愿应该会加强。

In April,Wenzhou established folk loan registration service center,This is considered in the national founded the folk loan"records"precedent,It is also the wenzhou gold to 12 main task of article 1.But ZhouDeWen mention was not satisfied.According to he given data,The center to the conference that day trading is so far more than 8000,And wenzhou folk loan scale compared to 120 billion,Apparently too little.He suggested that can allow enterprises to borrow money will be included in the cost of folk loan interest,Such registration will should be strengthen.

　　最令人失落的远不止是去登记借贷的人太少。金改已经过去了几个月，企业从最初的热情慢慢变得没有动力，这主要是因为进入金融领域依然是禁区。

The most disappointing is more than to go to the registration lending so few people.Gold has been changed over the past several months,Enterprise from the initial enthusiasm slowly become no power,This is mainly because into the financial sector is still the box.

　　温州企业两三次打算申报想要成立一家民营银行，但都被拒绝了，领导给的意见是“最好做小额贷款公司”，他抱怨 “我们的监管部门太保守了，对民间资本进入金融服务业就是带着有色眼镜”。

Wenzhou enterprise two or three times going to declare want to set up a private bank,But were refused,Leadership to opinion is"Had better do small loan companies",He complained that "Our supervision department is too conservative,The folk capital into financial services is with tinted glasses".

　　周德文说，很多观念都需要进步，他认为设立民营银行的条件很成熟——温州具备这样的条件，民间资本雄厚，有8000到1万亿流动资本，40多万家民营企业，有好的服务对象，然而，在法律、政策上民间资本进入金融领域并没有真正松绑。

Messina said,A lot of ideas are need to progress,He thought that establishment of private bank's condition is very mature, wenzhou have such condition,Folk capital abundant,There are about 8000 to 1 trillion floating capital,More than 40 of private enterprises,Have a good service object,however,In the law/Policy folk capital into the financial sector and not really relax.

　　对比银行与小贷公司，小贷公司主要靠自有资金发放贷款，融资只能向银行借钱（额度是注册资金50%以内），发放完毕就结束。如果想进一步扩展，只能以类似于资产证券化的方式，将现有的贷款业务“卖掉”变现，然后以自有的这些现金再对外放贷，而这个过程的交易成本是相当高昂的。显然，跟商业银行的模式相比，这个模式具有极大的限制性，很难扩张和做大。根本上说，小贷公司是用自有资金对外出借，而商业银行是资金的中介机构，而且有资金杠杆。

Compared with the small bank credit company,Small credit company mainly rely on equity fund lending,Financing can only to Banks to borrow money(The forehead to spend is registered capital of 50%),The issue is over.If you want to further expand,Only in a similar way in asset securitization,Will the existing loan business"sell"realizable,And then to own these cash foreign lending again,And the process of the transaction cost is rather high.obviously,Compared with the mode of commercial Banks,This model has greatly restricted,It is difficult to expansion and big.Radically said,Small credit company is to use their own funds foreign lending,The commercial bank is the capital intermediaries,And have the funds lever.

　　“温州是一个小地方，用的是自有资本，也不会出什么大乱子。”周德文相信。

"Wenzhou is a small place,With equity capital,Also not what big trouble."ZhouDeWen believe.

　　改革很难实质性突破 Reform is difficult to substantive breakthrough

　　然而直接设立一家破完全的民营银行，这类的概念很少被说起，也许，做银行家的梦想还得等一等，而且大家都相信改革可能也很难迅速就有实质性的进展。

However directly to set up a broken completely private bank,This kind of concept is seldom speak of,maybe,Do the banker's dream still have to wait,And it is believed that the reform may be difficult to quickly have substantial progress.

　　与周德文一起参会的全国人大常委、财经委副主任委员，中欧陆家嘴(600663,股吧)国际金融研究院院长吴晓灵以及上海市金融服务办公室主任方星海都谈了一些金改中的监管问题，在他们看来，银行这种涉及到公众利益特别是小投资者利益的机构要由中央来严格监管，而那些涉及少数人的金融机构和金融活动最好交给地方政府管。

And ZhouDeWen together of the standing committee of the National People's Congress/CaiJingWei vice chairman of committee,Lujiazui central(600663,guba)International finance research institute President WuXiaoLing and director of Shanghai's financial services office, fang xinghai, all talked about some of the gold change of regulatory problems,In their eyes,The bank this involves the public interests, especially the interests of small investors by the central institutions should to strict supervision,And those involved in a minority of the financial institutions and financial activities best to local government tube.

　　“银行如果批得很多会有问题，银行本质上出问题由政府承担。” 方星海说，很多小银行内部风险控制很弱，尤其是异地运作之后，分行为了业绩愿意承担更多的风险，在经济下滑的时候会出现很多问题。

"If the bank of a lot there will be problems,Bank essentially a problem for by the government." Mr Fang said,Many small Banks internal risk control is very weak,Especially after different operation,The branch to performance is willing to take on more risk,In the economic downturn will appear a lot of problems.

　　吴晓灵认为，任何一个地方的金融改革的试点要想在大的制度层面上获得突破，特别是一行三会管理的公众金融机构制度上的突破是比较困难的；那么在地方政府的管辖之内，先可以做的是非公众的金融机构，比如小贷公司。

WuXiaoLing think,Any one place of financial reform pilot to in large system level to obtain a breakthrough,Especially a line of three will manage the public financial institutions system breakthrough is more difficult;So in the local government within the jurisdiction,First can do is public financial institutions,For example small credit company.

　　像小贷公司或者融资担保公司这些私募机构，其资金只涉及到股东的钱，方星海说，它们并没有外生性以及系统性风险，至少在现在，几个小额贷款公司出问题不会导致全国金融不稳定。

Like small loan companies or financing guarantee company these private institutions,The money only involves the shareholders' money,Mr Fang said,They have not exogenous and systemic risk,At least now,A few small loan companies a problem will not lead to the national financial instability.

　　而对于银行，监管方面的态度还是非常谨慎的，如吴晓灵提到，监管当局规定村镇银行须由商业银行发起并控股的原因主要是风险控制，在眼下白热化的存款市场竞争环境下，村镇银行一个很大的劣势在于吸收存款非常难但贷款风险分散能力比较弱。

For bank,Regulatory attitude is very cautious,If WuXiaoLing mentioned,Regulators provisions town bank by the commercial bank shall be initiated and controlled main reason is risk control,In the white-hot deposit market competition environment,Town bank a big disadvantage is to absorb deposits was very difficult but the loan risk dispersion ability is weak.

　　允许民资独立办银行短期内来看可能都不是一个地方金改可以突破的限制，不过小贷公司转为村镇银行似乎可以有更多的空间。

What do allow independent bank in the short term to see may be is not a place for the gold change can break through the limit,But small loan companies into town bank seems to have more space.

　　张震宇也说过，银监会两年前已就小贷公司转为村镇银行出台相关办法。周德文在会上说起过，由于这些规定，温州没有一家小贷公司愿意转成村镇银行，但张震宇倒是心存希望，即小贷公司能不能作为“主发起”，直接转为村镇银行，这是银监会要探讨的事情。　

ZhangZhenYu also said,Banking regulatory commission (CBRC) two years ago has small loan companies into town bank has issued relevant measures.ZhouDeWen about at the meeting,Because these provisions,Wenzhou not a small loan companies are willing to into town bank,But ZhangZhenYu's hope,Namely small credit company can as"Main launched",Direct to the bank villages and towns,This is the CBRC to explore things.