Recently, the people's Bank of China, the Ministry of Industry and Information Technology, the Ministry of Justice and other eight ministries jointly issued the opinions on standardizing the development of supply chain finance to support the stable circulation and optimization and upgrading of the supply chain industrial chain (hereinafter referred to as "opinions").
From a practitioner's point of view, what are the key points of this opinion? How will supply chain finance develop? Let's take a look at the details of this article.
Accelerated integration of industrial chain and finance
It is pointed out in the "opinion" that it is necessary to improve the overall financial service level of the industrial chain. Promote financial institutions, core enterprises, government departments, third-party professional institutions and other parties to strengthen information sharing, rely on core enterprises to build upstream and downstream integrated, digital, intelligent information system, credit evaluation and risk management system, dynamically grasp the operating status of small and medium-sized enterprises, and establish a more stable and close relationship between financial institutions and physical enterprises. Banks and other financial institutions are encouraged to provide systematic and comprehensive solutions such as settlement, financing and financial management for the industrial chain, so as to improve the integrity and coordination of financial services.
Comments:This opinion encourages the integration of financial institutions and the industrial chain, and join hands to build industrial chain finance, but it is not easy. There are two points worth paying attention to: first, it is very difficult to create an integrated, digital system that can be used for information transmission, credit assessment and risk management. many industrial chains simply do not have the talent, data and technology foundation to do this system, many familiar industrial chains, and even distributors have few data mastery dimensions, so the digital transformation of the industrial chain needs to be carried out as soon as possible. Second, it is necessary to encourage financial institutions to provide comprehensive solutions for entity enterprises in the industrial chain, which is also more difficult for financial institutions, which are distributed all over the country, opening accounts, making full adjustment, and so on. Now the inspection of enterprise account opening is more stringent than in the past, under the premise of strict supervision of enterprise account opening, it is not easy to make a comprehensive solution for enterprises.
Support the purpose-oriented bond financing of core enterprises
The "opinion" proposes to increase support for core enterprises; under the premise of effective risk control, comprehensively use credit, bonds and other tools to support core enterprises to improve their financing ability and liquidity management level, smooth and stabilize the upstream and downstream industrial chain; support core enterprises to issue bonds to pay the accounts of upstream and downstream enterprises, and give full play to the financial support role of core enterprises to the industrial chain. Green channels can be established for core enterprises, banks and other financial institutions and bond management departments in national strategies and key areas such as advanced manufacturing, modern service industries, and high-quality development of trade, so as to respond to financing needs in a timely manner.
Comments:Core enterprises are very important for the healthy development of the industrial chain. This regulation is good for core enterprises in the fields of advanced manufacturing, modern service industry and high-quality development of trade. The core enterprises in these areas can raise funds through credit and bonds to stabilize the capital flow of the industrial chain. However, it is worth noting that bond financing should be used to pay the accounts of upstream and downstream enterprises, and this future supervision will focus on checking the use of bond financing.
Advanced manufacturing industries include CNC machine tools, rail transit, marine engineering equipment, aerospace equipment, aviation equipment, biological manufacturing, micro-nano manufacturing and other industries. Modern service industries include personal consumption services, communication services, information services, finance, logistics, public health, education and other industries. The high-quality development of trade includes high-end service outsourcing, culture, digital services, traditional Chinese medicine services and other industries.
Crack down on unlicensed supply chain loans
The "opinion" requires that the supervision of supply chain financial business should be strengthened; the development of supply chain financial business should strictly abide by the national macro-control and industrial policies, and all kinds of supply chain financial products should not be used to evade the requirements of national macro-control. All kinds of factoring companies, micro-loan companies and finance companies that carry out supply chain finance business shall strictly abide by the scope of business, strengthen the management of business compliance and risks, and shall not carry out financial business without a license or beyond the scope of business specified in the license. All kinds of third-party supply chain platform companies shall not carry out financial business in disguise in the name of supply chain finance, or charge service fees that do not match the quality and price from small and medium-sized enterprises in the name of supply chain finance.
Comments:This has a great impact on the supply chain companies of the third-party platform model. At present, supply chain finance has a third-party platform model, in which the third-party platform company does not grasp the industrial chain of the core enterprise, nor does it have a financial license to master funds, but it claims to master the data of the supply chain and do the matchmaking business of industry and capital, which is a kind of TO B form of loan. In the future, the loan mode of the third-party supply chain platform will be the focus of supervision.
Insurance entry can make supply chain finance more secure.
The "opinion" requires that the risk guarantee support for supply chain finance should be strengthened; insurance institutions should actively embed the supply chain, increase the supply of supply chain insurance products such as business interruption insurance and warehouse receipt property insurance, provide various forms of guarantee insurance business such as mortgage pledge and pure credit, expand underwriting coverage, do a good job in supply chain insurance claims settlement services, and improve claim settlement efficiency.
Comments:This is to encourage the application of guarantee insurance in supply chain finance. As an important means to increase the trust of enterprises, insurance institutions will share the risk of supply chain finance. In fact, in the field of consumer loans, performance bond insurance has done more, and has been criticized by consumers. With so much performance bond insurance, have you conducted a risk survey? If the consumer defaults, the insurance company pays the financial institution for the consumer? Therefore, on the B side, credit insurance really cannot go through the formality, but it is still necessary to truly perform the responsibility of independent risk investigation in parallel with financial institutions, and it is necessary to construct the credit performance constraints of the insurance ecology on the main body of the enterprise, so that the main body of the enterprise does not dare to default casually, and let the cooperative financial institutions dare to lend.
The platform for confirming the rights of accounts receivable for small and micro enterprises will speed up the construction.
The opinions call for improving the efficiency of accounts receivable financing for small and medium-sized enterprises; encourage core enterprises to confirm their rights through the accounts receivable financing service platform, facilitate accounts receivable financing for small and medium-sized enterprises, and reduce the costs of small and medium-sized enterprises; banks and other financial institutions should actively dock with the accounts receivable financing service platform, reduce the time and cost of confirming accounts receivable, and support efficient financing of small and medium-sized enterprises.
Comments:The determination of power is a very long and complicated topic. Large enterprises sometimes do not want to confirm their rights, because they have to check the corresponding sales contracts, warehouse orders, transport orders, acceptance orders, payment returns, and relevant examination and approval records of each account receivable, and clarify the amount of accounts receivable. Large enterprises will feel that it has increased the complexity and cost of their business operation. Especially for some large state-owned enterprises with strong advantages, many small and medium-sized enterprises beg them to do business on their knees, and simply do not have the qualification to require large state-owned enterprises to confirm their rights.
At present, state-owned enterprises and above the AA+ level, some banks are exempt, but other subjects are not so lucky and must obtain discrepancy controllable confirmation letters. If the accounts receivable financing platform wants to provide this kind of confirmation service, it still needs to be fully docked with the system of the core enterprise, and the workload is not small. If there are many core enterprises that need to be docked, then the platform needs to be highly standardized to reduce docking costs.
The key point of confirming the power lies in what way it can reduce the time and cost of the core enterprise to confirm the power, so as to enhance the enthusiasm of the core enterprise. Now there are a lot of blockchain accounts receivable transfer platform, in fact, this is not the key point. The key point is to build an electronic platform of supply chain transaction information, which is run by authoritative organizations, has high credibility and can operate stably for a long time, and helps core enterprises (such as those state-owned super-large enterprises) to digitize their industry chain receivables, coping information and details by providing tools or SDK, without increasing the burden on enterprises, preferably when real transactions take place. Automatically digitize and upload some documents.
The integration of the Internet and the industry chain can realize the online financing.
The "opinion" requires that we explore and improve the online and digital level of supply chain financing settlement; under the conditions that the transaction information of the supply chain is clear and visible, cash flow and risk can be controlled, banks can carry out "three checks" before, during and after online loans through the pilot financing of enterprises in the upper reaches of the supply chain; support the use of electronic signatures to sign contracts online for identity verification and remote video contract verification Support inter-bank electronic authentication and mutual recognition.
Comments:Regulation puts forward a very high requirement. The online settlement of supply chain financing is not an easy task. If the degree of digitalization of the industrial chain of the core enterprises is low, it is still difficult for financial institutions to make financing online. This paper believes that the informationization and digitization of the supply chain and the integration of the actual production process are the urgent things to be done by the industrial chain in the next few years. In the future, there may be a trend that Internet enterprises with strong digital genes will accelerate the integration of offline industrial chain, on the one hand, increase the connotation of Internet services, on the other hand, improve the efficiency of industrial chain operation.SUNINGRetail cloud,Meituan, Didi and Meicai are all models of this online and offline integration, which will give birth to the industrial Internet. The online "three checks" in the future will also enhance the demand of financial institutions for financial technologies such as remote KYC, online automation full adjustment report, online examination and approval, online risk early warning, and so on.
End
Supply chain finance is the financial ecology with the deepest characteristics of the industrial chain, and some major problems can not be solved so far, such as matching of accounts and facts, credit transmission of core enterprises, confirmation of rights, risk early warning assessment and so on, which are still in the stage of 1.0 development. Moreover, because of the cost factor, the application of technology integration production flow is still at a very superficial level.
The development of supply chain finance is not only a matter of financial institutions, the development of accounts receivable products, goods pledge products is not the key, the standardization and digitization of the industrial chain is the most important. The introduction of the "opinion" will promote the deep integration of financial institutions and the industrial chain, the emergence of the tide of the Internet of the industrial chain, and the supply chain loan industry will face adjustment.