芦山联社在板房中恢复营业 Forth Louise recovery in the housing business 本报记者 刘艾琳 雅安、成都报道 Our reporter LiuYiLin ya 'an/Chengdu reported

　　震后十天，芦山县城的部分支干道依旧没有通电。

Ten days after the quake,Forth part of the county road still have no electricity.

　　芦山县农村信用合作社（下称“芦山联社”）的工作人员在数台发电机的全天候轰鸣声中，一边在板房中对外营业，一边搭建员工安置区，应对余震和即将到来的雨季。

Forth county rural credit cooperatives(Hereinafter referred to as"Forth the yonhap news agency")Number of staff in the generator of all-weather roar,Side is open in the boarding house,Build employee relocation area,Deal with aftershocks and the upcoming rainy season.

　　地面拱翘、自动门被震碎的办公大厅，是工作区内唯一能正常对话的地方。“我们已经在这堆玻璃渣上开了好几次党委会了，不怕的话就在这吧。”5月1日，芦山联社理事长王开强在被鉴定为危房的办公楼中接受了本报记者采访。

The ground arch become warped/Automatic door shattered office lobby,Is the place where all workspace can normal conversation."We have opened a couple of times on this pile of glass members,Not afraid of you in this."On May 1,Forth, chairman of the association Wang Kaijiang in identified as dangerous house offices accepted our reporter to interview.

　　在当地市场份额最高达到80%、县辖乡镇拥有14个网点的芦山联社，在“4·20”地震当日下午3点恢复营业，四川省农村信用联社（下称“省联社”）也调入3辆汽车流动银行开进重灾区。截至发稿前，本报从雅安银监分局处获悉，除宝兴县1家网点外，雅安6县2区剩余共计291家金融机构网点均恢复正常营业。

In the local market share up to 80%/County and township has 14 branches forth the yonhap news agency,In the"4, 20"Earthquake at 3 PM on the day as usual,Sichuan province rural credit association(Hereinafter referred to as"Provincial association")Also call 3 car flow Banks into the worst-hit areas.As of the time,Was told this newspaper from ya 'an branch bureau,In addition to the treasure ltd.is 1 branches,Ya 'an 6 county 2 district a total of 291 financial institutions remaining outlets are back to normal business.

　　抢险只是第一步。地震受灾企业和个人所涉贷款的消化和重建体系中金融服务在风险可控下跟进，将是一个漫长的过程。“信用社在此次灾后重建的方案中，根据汶川经验做了一些调整，根据档案信息提供的金融服务会更灵活和契合借款人需求，使风险更可控。”王开强说。

Emergency rescue is only the first step.Earthquake affected companies and individuals involved in the loan for digestion and rebuild the system of financial services under the risk control to follow up,Will be a long process."Credit cooperatives in the post-disaster reconstruction scheme,According to the experience of wenchuan has made some adjustments,According to the file information to provide financial services will be more flexible and fit the borrower needs,Make more controllable risk."Wang Kaijiang said.

　　而经历过五年前汶川地震的金融机构，此时考虑得更长远：如何辩证看待重大灾难，有效利用灾后扶持政策和倾斜资金资源，在短时间内实现跨越式发展。“这次震后我们的风险资产会增大，拨备覆盖率和资本充足率都会受影响。这些不利因素可能让我们倒退5年，但抓住机遇运作得当，我们将前进10年。”王开强强调，这将是他们未来工作的重中之重。

While the financial institutions have seen five years ago the wenchuan earthquake,Think more long term at this time:How dialectical view major disaster,Effective use of supporting policies and tilt capital resources after a disaster,In a short period of time to realize leap-forward development."After this time we will increase the risk of assets,Provision for coverage and capital adequacy ratio will be affected.These unfavorable factors can let us back to five years,But seized the opportunity to operate properly,We will forward 10 years."Wang Kaijiang stressed,This would be their priority in the future.

　　对于金融监管部门而言，面对纷沓而至的各项应急政策和扶持方案，如何根据实际需要使之有效落地，借鉴汶川重建经验、避免资源错配和浪费，成为了目前顶层设计者们灾后会议桌上最重要的议题之一。

As for financial regulators,Faced with various emergency policies to arrive and support plan,How to according to the practical need to make it effective landing,Using the experience of wenchuan earthquake reconstruction/Avoid mismatch and the waste of resources,Became the top designers in post-disaster meeting one of the most important issues on the table.

　　

重构灾后放贷标准 Reconstruction after disasters lending standards

　　“原本可做抵押的厂房设备或住房，现在也无法评估价值。这对我们信贷员的专业能力也是一个大考验。”

"Plant originally can be done to the mortgage or housing,Now also cannot be assessed value.The loan officer's professional ability to us is a big test."

　　重灾后，银行只能采取非常态的放贷评估手段，芦山联社理事长王开强称之为“艺高人胆大”。地震第二天，芦山联社发放了灾区第一笔农户救灾应急贷款（2000元）；24日，又发放了灾区第一笔企业贷款（280万）。截至发稿前，芦山联社已经发放各项灾后贷款约700万元。

After the battle,Banks only take improper means of lending assessment,Forth, chairman of the association Wang Kaijiang call""Ecomax" brave people".The earthquake on the second day,Forth association issued the first farmers flooded area disaster relief emergency loans(2000 yuan);24,,And deliver the first corporate loans(2.8 million).As of the time,Forth the yonhap news agency has issued all the post-disaster loans of about 7 million yuan.

　　“这个期间发放的都是信用贷款，不论新老客户。原本可做抵押的厂房设备或住房，现在也无法评估价值。这对我们信贷员的专业能力也是一个大考验。”王开强说。

"That were issued during the period of credit,No matter the old and new customers.Plant originally can be done to the mortgage or housing,Now also cannot be assessed value.The loan officer's professional ability to us is a big test."Wang Kaijiang said.

　　芦山联社第一个发放贷款的企业是芦山县湘邻纺织有限公司，从事棉、化纤纺织加工销售，具有较强生产规模，也是芦山联社的老客户。地震后该公司厂房设备损毁严重，初步估计损失约6000万。发放的280万元信用贷款，期限1年，按季结息，到期还本，利率优惠50%。用于解决员工工资、拆建厂房设备和流动资金短缺。

Forth the yonhap news agency the first loan enterprise is forth county xiang textile co., LTD,Engaged in the cotton/Chemical fiber textile processing and sales,With strong production scale,And forth association of old customers.The company workshop equipment badly damaged after the earthquake,Preliminary estimate losses of about 60 million.To issue credit loans of 2.8 million yuan,Period for 1 year,The quarterly JieXi,Maturing debt,Preferential interest rate to 50%.To address the employee wages/And plant equipment and a shortage of liquidity.

　　“厂房完全报废，传统标准来看根本不具备贷款能力。但这个企业盈利能力强，注入资金能很快恢复生产，我们愿意承担这个风险。另外，原则上一笔贷款只能有一种用途，但非常时期不可能分三笔贷出，就给了个总数。”王开强介绍道。

"Workshop completely scrap,Traditional standards don't have ability to make loans.But the enterprise profit ability,Funding to resume production soon,We are willing to bear the risk.In addition,In principle, a loan can only have a purpose,But desperate times could not in three pen to lend,Will give a total number."Wang Kaijiang said.

　　针对灾后企业和个人的资产质量变化，芦山联社对信贷发放标准做出了相应调整。王开强将之总结为，“在尽最大努力挽救客户资产的基础上做出三判断”。

For corporate and personal assets quality changes after disasters,Forth the association to the credit standard has made the corresponding adjustment.The summary of the king's will open for,"Doing their best to save the clients' assets on the basis of making judgment".

　　“首先要看企业的经营类别是否属于国家支持的产业和行业，符合国家产业政策的，要扶持。其次，判断资金注入后是否有盘活企业的可能。这就需要综合性考虑，包括负责人的恢复意愿、能力，人、财、物都必须组合完整。最后要整体测算企业的贷款偿还能力。这三大快把握好了，其它细节都可以灵活对待和考虑。”

"First of all depends on whether enterprise management category belongs to the national support industry and industry,Accord with national industrial policy,To support.The second,Is it possible to revitalize the enterprise whether after the capital injection.This will require a comprehensive consideration,Including the head of recovery/Ability to,people/goods/Combination must be complete.Finally, the overall measuring enterprise loan repayment ability.These three quick grasp,Other details can be flexibly treated and consideration."

　　强调“艺高人胆大”的王开强也有“后怕”的时候。震后第二天，县政府紧急拨付了900万的救灾款，要求提款后分发到每一个乡镇。困难在于，当时政府财政局的支票、公章和文件都被锁于危房中拿不出来。

Emphasis on""Ecomax" brave people"Wang Kaijiang also have"dying"The time of.The second day after the quake,The county government allocated $9 million of emergency aid,Request withdrawals after distributed to every one of the villages and towns.The difficulty is that,When the government bureau checks/Official seal and files are locked in order to take not to come out.

　　“没有支票和相应文件金融机构是不敢放款的。我和财政局长以个人名义签了个君子协议，900万就这么出去了。当天我们的运钞车夜里三点都还在工作。”王开强皱了皱眉头，继续说，“签字时我心情还是很沉重，有任何闪失丢帽子的不仅是我一个人。好在现在材料都补齐了，想起来还是有些后怕。”

"No check and corresponding files is dare not lending financial institutions.I and finance director to personally signed a gentleman's agreement,9 million is so out.On the day of our vans are at work at 3 o 'clock at night."Wang Kaijiang frowned,Continue to say,"My mood is very heavy. When signing,Have any mishap threw the hat is not only I a person.But now you fill all the material,Think of some dying."

　

　预警农房重建 Reconstruction of early warning the farmhouse

　　如果每户贷款2-5万，农房重建贷款应在10-25亿。而地震前，芦山县4家金融机构贷款余额仅10余亿。

If each household loans. 2-50000,Housing reconstruction loans should be 10-2.5 billion.And before the earthquake,Forth county four financial institutions loan balance only 10 $.

　　汲取汶川农房（居民住房）重建中已暴露的风险经验，承担农房重建近90%比重贷款份额的四川省农村信用联社，在此次的灾后重建指导意见中做出了部分修改，拉长了贷款期限并在贷款额度和还款方式上规定得更灵活。

Derive the wenchuan the farmhouse(Residents of the housing)Has been exposed to risks in the reconstruction of experience,Nearly 90% share proportion of loans for housing reconstruction in sichuan province rural credit association,In the post-disaster reconstruction made some modifications in the guidance,Longer loan term and loan amount and repayment regulation more flexible way.

　　为更好地控制风险和一定程度上减轻借款人的还款压力，省联社最新发出的一份灾后重建金融服务工作的指导意见中指出，农房重建贷款期限应根据借款人的偿债能力合理约定，原则上为5-8年；城镇居民住房重建贷款期限应根据借款人的经济收入来源和偿债能力合理约定，原则上不超过10年，住房按揭贷款期限原则上不超过20年。

To better control risk and to some extent alleviate the borrower's repayment pressure,Provincial association issued a latest post-disaster reconstruction work guidance of financial services,Housing reconstruction loan time limit shall be agreed according to the borrower's solvency is reasonable,In principle of 5-8 years;Urban residents housing reconstruction loan time limit should be according to the borrower's income sources and debt paying ability and reasonable agreement,In principle no more than 10 years,Housing mortgage loan time limit, in principle, no more than 20 years.

　　据省联社曾参与汶川重建项目的一位负责人介绍，原来汶川农房（居民住房）重建中期限基本在3-5年，现在看来借款人的还款压力比较大，金融机构需要配合政府尽全力化解。

According to the provincial association has participated in the reconstruction of wenchuan, a chief introduction of the project,The original farmhouse of wenchuan(Residents of the housing)Reconstruction period basic in 3 to 5 years,Now it seems the borrower's repayment pressure is larger,Financial institutions need to cooperate with the government to resolve.

　　在还款方式上，“我们现在应该会主推额等本息还款，便于及时掌握客户资金情况。”王开强介绍，贷款额度也将更加灵活。目前，已覆盖了全县98%农户（居民）贷款的芦山联社，建立了详细的农户资金档案，未来重建贷款，会在历史档案、全面调查每户受损情况，结合其偿还能力和实现收入的基础上，制定出贷款额度和还款方式。

In the mode of payment,"Now we should advocate the forehead of reimbursement of principal and interest, etc,To facilitate mastery of client money."Wang Kaijiang introduction,The loan amount will be more flexible.At present,Has covered the 98% county farmers(residents)The forth association,Set up farmers money file in detail,The future reconstruction loans,In the history file/Comprehensive survey every damage,Combined with its ability to repay and on the basis of the revenue,Make the loan amount and way of payment.

　　王开强初步推算，芦山县城12万人口，其中包括5万农户。如果每户贷款2-5万，不计算城镇住房损失的情况下，金融机构对农房重建贷款的投放量都在10-25亿之间。而地震前，芦山县4家金融机构的各项存款共计约28个亿，贷款余额10余亿。

Wang Kaijiang preliminary calculations,Forth the county population of 120000,Including 50000 farmers.If each household loans. 2-50000,Loss does not calculate urban housing situation,Financial institutions loans for housing reconstruction there are between 10-2.5 billion.And before the earthquake,Forth county four financial institutions of the deposit totaling about $28,Loan balance more than 10 billions.

　　“灾后重建的资金需求量基本翻了一番，而我们是农房重建中主要的贷款金融机构。现在最担心的还是风险防范措施。在政府具体的风险防范机制还没有出台之前，我们需要在汶川经验基础上做好更严密的风控措施。”

"Reconstruction of the capital demand basically doubled,And we are the housing reconstruction of major financial institutions loans.Now most concerned about or risk prevention measures.In the government before specific risk prevention mechanism has not yet been issued,We need to based on the experience of wenchuan risk-control measures more closely."

　　汶川地震后政府在芦山县建立了专项担保基金，王建议，“由于实际的贷款数额没有超过担保基金的额度。我们希望把上次额度内没有用完的部分，转移融入到这次的担保基金中来。当然，如果有担保基金的话。”

Wenchuan after the earthquake the government established special guarantee fund in the forth county,Wang suggested that,"Because the actual loan amount does not exceed credit guarantee funds.We hope to unused parts in the last line,Transfer into the guarantee fund.Of course,,If you have a guarantee fund."

　

　急速扩张 Rapid expansion

　　原规划在今年年底申请改制转为农商行的芦山联社，被地震打乱了计划。

The original plan for restructuring by the end of the year to the forth bank association,Disrupted by the earthquake plan.

　　原规划在今年年底申请改制转为农商行的芦山联社，被地震打乱了计划。吸收了全县53%存款的芦山联社，覆盖了全县98%农户居民的贷款，85%的企业贷款。目前存贷规模为25亿。

The original plan for restructuring by the end of the year to the forth bank association,Disrupted by the earthquake plan.Absorbed by the county forth association of 53% deposit,Covers the county residents 98% farmers loans,85% of corporate loans.Now the scale of loan for 2.5 billion.

　　“我们的地震受灾企业和农户所涉贷款，初步统计占比达到70%和90%。地震极大增加了我们的风险资产，对应的资产质量指标都会受影响。”王开强坦言。

"Our earthquake affected businesses and farmers involved,Preliminary statistics accounted for 70% and 90%.Earthquake greatly increase the risk of our assets,The corresponding asset quality indicators will be affected."Wang Kaijiang admitted.

　　转制农商行的节奏会被减慢，但并不影响芦山联社利用重建机遇壮大资产规模，完善内部法人治理结构，“我们对自己的各项指标要求甚至会严于商业银行的监管标准，把握机会迅速扩张规模是我们的重中之重”。

The rhythm of the transformation of bank will be slow,But does not affect the forth Louise from redevelopment opportunities expand of assets,Perfect the internal corporate governance,"The indicators of our requirement may even stricter regulatory standards of the commercial Banks,Opportunity of rapid expansion in scale is our top priority".

　　得益于政策扶持，省内各家信用社从2007年起享受三年所得税免除、营业税减半的优惠政策。汶川地震后，此项优惠政策延长到2013年底。税收的减免对农信社创造了极大的发展空间。

Benefit from the policy support,Each credit cooperatives in the province since 2007, enjoying three years of income tax exempted/Preferential policies of the business tax in half.After the wenchuan earthquake,The preferential policy to the end of 2013.Tax breaks for rural credit cooperatives has created tremendous development space.

　　“这五年中，我们运用税收减免的这部分资金，处理了大部分历史包袱。”王开强希望此次地震能后继续税收减免政策3-5年。他算过一笔账，2007年，县联社刚刚扭亏为盈，按照当时的发展速度，“如果没有税收减免政策，我们现在最多一年纳税300万，现在换算过来，2012年我们的纳税能力在1200万左右。如果能再减免税收3-5年，相信那时我们的纳税能力会上升到4000万”。

"During the five years,We use this part of the tax breaks for capital,Handle the bulk of the historical burden."Wang Kaijiang hope the earthquake will continue tax cuts after 3-5 years.He calculated brushstroke zhang,In 2007,,XianLianShe just turn a profit,At the time it was the pace of development,"If there is no tax breaks,We are now up to a year pay taxes 3 million,Conversion to come over now,Our ability to pay tax at about 12 million in 2012.If can again tax deduction for 3 to 5 years,Believe that our ability to pay taxes will rise to 40 million".

　　在县辖区内已经拥有14个网点的芦山联社，计划投入更多的自助型便民设备，同时提升利用电话、手机办理银行小额信贷业务的使用率。王开强的金融野心不止于此。

Within the jurisdiction area of county has 14 branches forth the yonhap news agency,Plans to invest more convenient self-help type equipment,While increasing use of a telephone/Banking at the point of microfinance business cell phone usage.Wang Kaijiang financial ambitions beyond that.

　　目前，芦山联社已获批新建一栋办公大楼。“随着业务规模的扩张，我希望能把客户类型分开，VIP客户能都享受到更好的金融服务。办公大楼建成后，不仅我们会搬入，我会邀请保险公司、担保公司、小贷公司，甚至政府金融部门入驻。打造成一个金融中心，使客户能更全面地享受金融服务”。

At present,Forth the yonhap news agency has approved a new office building."With the expansion of business scale,I hope to be able to separate the customer type,Of VIP customers can enjoy a better financial services.The office building is completed,Not only we will move in,I would invite the insurance company/Guarantee company/Small loan companies,Even the government financial departments.As a financial centre,Enable customers to more fully enjoy the financial services".

　　想要抓住灾后重建机遇的不仅是当地金融机构。据人行雅安中支介绍，其希望灾后雅安辖区内能引进一批股份制银行，完善当地的金融机构体系，促使雅安的经济规模能整体上一个台阶。目前，雅安辖内主要金融机构包括国有四大行、农村信用社、一家政策性银行、一家城商行及一家村镇银行。

Want to seize the opportunity for post-disaster reconstruction is not only the local financial institutions.According to the pedestrian in the ya 'an branch,Its hope ya 'an area after a disaster that can introduce a batch of joint-stock Banks,Perfect the system of local financial institutions,To ya 'an economies of scale to a higher level overall.At present,Ya 'an facility mainly including state-owned financial institutions within the big four Banks/Rural credit cooperatives/A policy bank/A firm in the city and a village bank.

　　人行雅安中支上述愿景也许启发自汶川灾后金融业。

Pedestrian in ya 'an branch of the vision may be inspired from the financial sector after the wenchuan disaster.

　　人行成都分行研究资料显示，汶川地震灾后重建带来了大量的存款和贷款需求，2010年3月末与2007年末相比，35家重灾县（区）农村信用社存款余额增加了2.34倍，贷款余额增加了2.08倍。

people行成都分行研究资料According to,After the wenchuan earthquake reconstruction has brought a lot of deposit and loan demand,Compared to the end of 2007 at the end of March 2010,35 ChongZaiXian(area)Balance of rural credit cooperatives has increased 2.34 times,Loan balance increased by 2.08 times.

　

　资金亟待落地 Money to be born

　　本报从多类金融部门获悉，汶川地震农房重建三年、五年期还款情况并非设计者想象中顺利，逾期率偏高。

This newspaper has learned from multiple financial department,Reconstruction of wenchuan earthquake the farmhouse for three years/Reimbursement is not the designers imagined smoothly over a five-year period,YuQiLv is on the high side.

　　截至目前，人民银行雅安中心支行已为灾区金融机构争取到流动性再贷款限额5亿、支农再贷款限额3亿，再贴现转授权窗口限额5亿，中小金融机构贷款合意度2.3亿等。此外，人行雅安中支还提出一揽子政策优惠建议，包括降低灾区金融机构的存款准备金率、再贷款和再贴现利率；对灾区金融机构减免税收；为灾区企业发行债券、票据开辟绿色通道等。

Up to now,Ya 'an center branch has a disaster area of the people's bank of liquidity to financial institutions borrow limit of 500 million/Support agriculture further credits limit of 300 million,Discount authorization Windows limit of 500 million,Small and medium-sized financial institutions loan agreement 230 million etc.In addition,The pedestrian in ya 'an a package of preferential policies have been put forward Suggestions,Including the affected areas of the financial institutions deposit reserve rate/Refinancing and rediscount interest rates;Tax breaks to the financial institutions;For enterprises to issue bonds/Bill opened the green channel, etc.

　　“支付系统、国库资金汇划渠道等都已畅通。我们现在最难的，是灾后庞大信贷资金量如何落地和重建中如何维系信用环境、让金融服务可持续介入的问题。”5月2日，人民银行雅安中心支行行长张孟君接受本报记者采访时称。同时，人行也要求省级各家银行根据自身实际情况尽快制定灾后重建的指导意见。

"The payment system/The national Treasury fund transfer channels, etc have been unblocked.We are the hardest,Is a huge credit amount how to fall to the ground and post-disaster reconstruction of how to maintain credit environment/Makes the issue of sustainable intervention of financial services."On May 2,Ya 'an center branch President of the people's bank of Zhang Mengjun accepted our reporter in an interview.At the same time,Pedestrian also requires Banks at the provincial level according to their own actual situation to formulate post-disaster reconstruction guidance as soon as possible.

　　据其介绍，地震受灾企业、农户（居民）所涉资产损毁情况尚在统计中。建议金融机构优先恢复企业的再生产和新增贷款工作。受余震影响，农房和居民住房可能需要重新评估和规划，重建贷款工作目前并不急于推进。

According to the,Earthquake affected enterprise/farmers(residents)Assets involved damage is still in the statistics.Suggest financial institutions to give priority to the reproduction of recovery enterprises and new loans.Affected by the aftershocks,Housing and residential may need to re-evaluate and planning,Reconstruction work is currently in no hurry to promote loans.

　　但从汶川经验来看，农房（居民住房）重建仍是金融扶持的重难点。本报从多类金融部门获悉，汶川地震农房重建三年、五年期还款情况并非设计者想象中顺利，逾期率偏高。据四川省农村信用联社负责人介绍，汶川农房重建中四川各县级农村信用社共同承担了97%左右的贷款，规模超过100亿元。

But from the experience of wenchuan,The farmhouse(Residents of the housing)Reconstruction is still the difficult point of financial support.This newspaper has learned from multiple financial department,Reconstruction of wenchuan earthquake the farmhouse for three years/Reimbursement is not the designers imagined smoothly over a five-year period,YuQiLv is on the high side.According to the sichuan rural credit association chief introduction,Housing reconstruction of wenchuan county in sichuan province rural credit cooperatives to share about 97% of the loan,Size of more than 10 billion yuan.

　　针对农房重建，人行雅安中支的建议是，由政府设立担保基金为农户和居民作担保。“有第一还款来源的群体，由担保基金按照一定比例放大覆盖。没有第一还款来源的，我们建议由担保基金全额担保。”张孟君说。

Reconstruction for the farmhouse,Advice is pedestrian in ya 'an,Established by the government guarantee fund guarantee for farmers and residents."There is the first source of repayment,Covered by guarantee fund in accordance with certain proportion amplification.Not the first source of repayment,We suggest that full guarantees by guarantee fund."Zhang Mengjun said.

　　事实上，汶川地震中已有设计为农房重建建立担保基金或担保公司、政府与金融机构共担风险的方案，但实践情况并不乐观。从长远角度考虑，满足生存需求之后，诚信体系的维护是保证后续金融服务顺畅介入的关键。

In fact,,Has been designed in the wenchuan earthquake reconstruction to the farmhouse to establish guarantee fund or guarantee company/The government and financial institutions risk in solution,But our practice is not optimistic.From a long-term point of view,Meet the demand of survival,Credit system maintenance is the key to ensure smoothly step in subsequent financial services.

　　“还有一个现实问题是，汶川地震后重建的农房，贷款还没有还完，在这次地震中房屋又毁损了。二次受灾的情况，后续将如何扶持以及风险如何分担，也是我们正在研究的问题。”张孟君坦言。

"There is a real problem,After the wenchuan earthquake reconstruction of the farmhouse,The loan has not finished yet,Houses in the earthquake damaged again.Secondary disaster,How will follow-up support and how to share the risk,Also we are studying the issue."Zhang Mengjun admitted.