Spend the Spring Festival in a busy way, and March will come to an end in a blink of an eye.

After the year, the bank began to prepare for the domestic listing, and at the same time officially reduced the scale of lending in Donghua to control financial risks, so that the development and construction funds in Meixi and Xinpu were tightened all of a sudden.

Key projects such as the east extension of the Xudong Railway, Haiphong Highway, Hengyang Heavy Industry, and Zhunan Refining and Chemical Base have all raised sufficient funds in advance and started construction as scheduled, but projects such as Xinpu Container Terminal and the first phase of the sea reclamation have still been affected, and the construction has been suspended due to factors such as debt scale control.

As the first joint-stock commercial bank in China with foreign participation, Yexin Bank has invested less than 500 million yuan in total when focusing on the development of financial business in the Huaihai Bay area. From '93 to March '97, the bank had more than 50 business outlets in Huaihai Province, with net assets of 1.2 billion, total social deposits of 12 billion, and total loans of 10 billion.

As one of the four major state-owned commercial banks with a history of more than 40 years, China Construction Bank has only lent 10 billion yuan in Huaihai Province during the same period.

Half of the achievements of the Bank in Huaihai Province were achieved with the rapid development of Donghua; the sudden reduction of the scale of loans by the Bank in Donghua was naturally quite unkind in the eyes of people who did not know the inside story.

At the end of March, Yao Ronghua, on behalf of the Industrial Credit Bank, rushed to Donghua to attend the preparatory meeting of the City Commercial Bank.

The Municipal People's Bank of China is not directly engaged in financial business such as deposits and loans, but it is responsible for supervising, guiding, and managing the development of the regional banking industry, and can be said to be the regulatory department of the local banking industry.

The contraction of the bank's loans in Donghua will limit the rapid development of the banking industry in Donghua City, and may even transfer the deposits absorbed from Donghua to other places. Except for other municipal commercial banks that have direct competition with the bank, the municipal people's bank and the local government will not want to see this situation.

After preparing for the conference, in the face of the reproaches of some officials of the Municipal People's Bank, Yao Ronghua also smiled kindly, exchanged a few words of greeting, and left the venue with Shen Huai, Xiong Wenbin, and Chen Bing.

"The formation of the city commercial bank is imminent, and all parties inject 200 million yuan, but there are 400 million problem loans to digest and clean up, and to fill the space after the contraction of the business credit, and the pressure on the capital is extremely great," Shen Huai walked out of the venue and said to Yao Ronghua, "The business credit bank is now shrinking its lending to Donghua enterprises and local development and construction, can it put 200 million bonds to finance the city commercial bank?"

"You, you are really good at exploiting loopholes," Yao Ronghua shook his head and smiled, "But this, I can try to push it, it's not impossible." ”

"Don't talk about trying," Shen Huai said, "Yexin holds 30% of the shares of the city commercial bank, and in addition to the two positions on the board of directors, there is also a management team of 20 people led by Mr. Zhang to comprehensively rectify the business." The city commercial bank is now almost entrusted to the management of the bank, and the bank is still worried about the risk of debt financing, so I have nothing to say here......"

The registered capital of the city commercial bank is tentatively set at 300 million, except for the original city credit union with a net asset of 90 million yuan, which is held by Donghua Beijing Investment, the rest of the registered capital comes from the business credit bank, Zhujiang investment and the listed company Meixi Industry.

In the process of additional issuance and reorganization, the listed company raised a total of 730 million yuan from Meigang and Xucheng local securities institutions.

After paying a backdoor price of 400 million yuan in exchange for 400 million corporate shares of a listed company, Meigang Group's short-term capital potential was exhausted all at once, and there was no possibility of continuing to expand investment.

However, although the 730 million yuan in cash held by the listed company is mainly used for the construction of the Zhunan refining and chemical base, it is also a positive equity investment to take 90 million yuan to participate in the capital injection of Donghua City Commercial Bank.

At the beginning of the construction of the Zhunan refining and chemical base, it was far from needing such a large amount of funds, and it was better to invest it than to eat that pitiful interest on the bank account.

After all the assets of Meigang No. 1 and No. 2 factories are injected into the listed company, the monthly profits generated are all owned by the listed company.

It is expected that Meigang No. 1 and No. 2 plants will be able to generate three to four net profits during the construction of Zhunan Refining and Chemical Base.

Although Meigang Group, Zhongxin, Hongji, Zhujiang and other companies hold a total of 1.2 billion shares of various stocks of listed companies and have the absolute right to speak, Meigang still has discussed the relevant investment plans with the securities institutions of Xucheng listed companies.

In order to maintain the current stock price, it is not enough for listed companies to rely on the profits of Meigang No. 1 and No. 2 plants, and the profit expectations of the Zhunan refining and chemical project are not very obvious, and the current booming banking industry is an extremely important investment channel.

Although state-owned commercial banks have many problems with bad debts, medium-sized commercial banks such as Yexin Bank have experienced a very rapid increase in their assets, with an annual growth rate of more than 450 percent in their net assets.

Donghua City Commercial Bank almost completely adopts the mature management team of Yexin Bank, and is rooted in Donghua, which has the fastest economic development in Huaihai Province, relying on Donghua's most important Meigang system, and its development prospects are naturally promising.

If it weren't for the strict restrictions on the entry of private capital by the city commercial banks, and the quota would have been used up by local enterprises in Donghua, the securities institutions in Xucheng would have wanted to directly participate in the investment in Donghua City commercial banks.

In addition, even if Zhujiang Investment spends 30 million yuan to participate in the capital injection of the city commercial bank, holding 10% of the equity, it can only be regarded as better than nothing.

As representatives of local private capital in Donghua, Chu Yiliang, Zhou Jia, Zhu Li, and Yang Haipeng have also invested in Zhujiang rapidly, but due to the development and construction of Xinpu Shipping Group, Xudong Railway East Extension, and Lingang New City, the capital potential of Zhujiang investment has also been exhausted.

Although Zhujiang Investment directly holds 80 million shares of listed companies, with a market value of up to 400 million, due to the shrinking of the scale of loans in Donghua, Zhujiang Investment owns this equity asset, and there is no way to mortgage it for financing for the time being.

After the establishment of the city commercial bank, in addition to the fixed assets of nearly 100 million yuan, only 200 million yuan of capital can be used for expansion, which is a pretty good starting point for local commercial banks.

At present, the capital adequacy ratio of local commercial banks in China only needs to reach 5%, that is, Donghua City Commercial Bank can theoretically support the total assets of 6 billion yuan, that is, to build another business credit bank in Donghua.

In order to put it into practice, the city commercial bank should expand at the speed of the development of the industry credit in Donghua in the past two years, and the capital of 200 million yuan is seriously insufficient; so Shen Huai expressed the hope that the industry credit bank can provide the city commercial bank with an additional 200 million yuan of long-term bond financing.

The risk level of a bank's asset risk management and lending to enterprises is completely different from that of lending to interbank banks.

Yao Ronghua had to admit that Shen Huai and his brains were quick enough to do everything possible to increase the money supply in Meixi and Xinpu.

However, Yao Ronghua had no way to settle this issue in person.

Interbank debt financing needs to be approved by the head office, and whether it can be completed in the end depends on the attitude of the head office, and he is only responsible for doing the work.

In short, the city commercial bank now has 200 million yuan of funds to support, and the expansion also needs to be rolled out to a certain extent, and there is no problem in delaying the 200 million yuan financing debt for a year and a half.

When it was over, Yao Ronghua said to Shen Huai again: "The establishment of the city commercial bank is imminent, and in the future operation direction, I personally advocate more vigorously supporting small and medium-sized enterprises." At present, Donghua's economy mainly relies on large enterprises such as Meigang, Provincial Steel, Baohe, and Huaineng to support a relatively grand framework, which can be said to be a quite successful model. However, without the support of small and medium-sized enterprises, it is still difficult to fully improve the economic vitality and employment adequacy rate......

Shen Huai nodded, the entire steel manufacturing industry in Donghua City mainly depends on the support of Meigang and Provincial Steel, Fuji Iron and Steel, Huailian Heavy Industry, etc., about eighty percent of the output value belongs to these companies, but in the field of steel finishing, only Meixi Iron and Steel Industrial Park, in recent years, has gathered more than 100 small and medium-sized enterprises.

This is also the demonstration effect of wealth accumulation in action, which industry with high profits can quickly attract a large number of private capital to enter, which is almost a common situation in China.

Of course, the basic steelmaking and heavy industry manufacturing industries have relatively high requirements for capital and technology, but the relatively scattered finishing and application fields have become the core areas for private capital to enter.

After the launch of the 100,000 stainless steel refining line of Meigang No. 3 Factory, Meixi quickly recruited more than ten stainless steel manufacturing enterprises to enter. Xinpu Steel Plant has not yet been finally completed and put into operation, but there are more than 30 supporting and downstream small and medium-sized enterprises in Lingang Metallurgical Industrial Park.

It's just that most of the private capital in Donghua and Donghua to invest in the steel manufacturing industry is very weak, and the total investment of 100 enterprises in Meixi Iron and Steel Industrial Park, except for individual large enterprises such as Huailian Heavy Industry, is less than 1 billion.

On the one hand, the development of small and medium-sized enterprises is extremely thirsty for funds, on the other hand, domestic bank loans are too much for state-owned enterprises, large-scale industrial and infrastructure projects, and the support for small and medium-sized enterprises is seriously insufficient, so that the annual interest rate of Donghua's private loans has been maintained at a height of 20 percent in recent years.

At this time, Meigang itself is trying to extend upstream, but supporting downstream industrial clusters can also further ensure the safety of Meigang's downstream market. This work was overlooked before, and now it's time to step up.

In addition, although the scale of investment and tax payment of these small and medium-sized enterprises may not be as large as that of Meigang, the number of jobs created by these small and medium-sized enterprises is five or six times that of Meigang.

Although local governments regard the work of attracting investment as the core of their current work, some domestic and foreign media have criticized them for not paying enough attention to people's livelihood, but these media rarely realize that the core problem of people's livelihood is employment, which returns to economic development.

Speaking of employment, Shen Huai was also quite proud, and smiled with Xiong Wenbin and others: "Over the years, Meixi New Area has created more than 100,000 jobs, which can be regarded as reducing the pressure on the restructuring of state-owned enterprises to the greatest extent, ......right?

Xiong Wenbin smiled, the operating conditions of state-owned enterprises in Donghua City have also changed a lot in the past two years, even if some burdens must be resolutely thrown away, there are only 35,000 laid-off workers every year. As far as the development speed of Meixi New Area is concerned, it is enough to digest.

The rapid increase in fiscal revenue can also provide corresponding livelihood guarantees for laid-off workers who cannot find jobs for a while.

It can be said that the restructuring of Donghua state-owned enterprises will be the least difficult among the 13 prefectures and cities in the province, so it will also be the first to be fully launched.

Now this work is assigned to Gao Tianhe and Han Shouchun, which can be regarded as asking them to pick a good fruit.