Spending the Spring Festival in a busy manner, March is over in a blink of an eye.

Yexin Bank began to prepare for domestic listing after the New Year, and at the same time officially shrank the scale of lending in Donghua and controlled financial risks, which made the development and construction funds in Meixi and Xinpu suddenly tightened.

The east extension of Xudong Railway, Haifang Highway, Hengyang Heavy Industry, Zhunan Refining and Chemical Base and other key projects have raised funds in advance and started construction as scheduled. However, projects such as Xinpu Container Terminal and Phase I of the Sea are still affected by some factors. The construction is temporarily suspended due to considerations such as debt scale control.

As the first joint-stock commercial bank in China with foreign capital, Yexin Bank invested less than 500 million yuan in capital when it focused on developing financial business in Huaihai Bay. From 1993 to March 1997, Yexin Bank's business outlets in Huaihai Province had developed more than 50 places, with net assets reaching 1.2 billion yuan, total social deposits reached 12 billion yuan, and total loans reached 10 billion yuan.

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

Half of Yexin Bank's achievements in Huaihai Province were achieved with Donghua's rapid development; Yexin Bank's sudden shrinkage in Donghua's lending scale is naturally quite unkind in the eyes of people who are not clear about the inside story.

At the end of March, Yao Ronghua, on behalf of Yexin Bank, rushed to Donghua to participate in the preparatory meeting of the city commercial bank. Some officials from the Municipal People's Bank of China publicly discussed the matter, and there were many accusations in their words.

The Municipal People's Bank of China is not directly engaged in financial businesses such as deposits and loans, but it has the responsibility of supervising, guiding and managing the development of regional banking industries. It can be said that it is the regulatory department of the local banking industry.

Yexin Bank's shrinking loan scale in Donghua will limit the rapid development of Donghua's banking industry, and may even transfer the deposits absorbed from Donghua to other places for issuance. Except for other municipal commercial banks, municipal people's banks and local governments that have direct competition with Yexin Bank, they will not want to see this situation.

After the preparation meeting, facing the questioning of some officials of the Municipal People's Bank of China, Yao Ronghua also smiled leniently, exchanged a few greetings, and left the venue with Shen Huai, Xiong Wenbin, Chen Bing and others.

"The city commercial bank is about to be established, and all parties inject 200 million yuan of funds, but there are 400 million yuan of problems that need to be digested and cleaned up, and the space after the shrinking of the commerce bank is filled. The capital pressure is extremely high," Shen Huai walked out of the venue and said to Yao Ronghua. "Yesin Bank is now shrinking its lending to Donghua enterprises and local development and construction. Can it lend 200 million yuan of bond financing to the city commercial bank?"

"You, you really know how to take advantage of loopholes," Yao Ronghua shook his head and smiled, "But I can try to push this, it's not impossible."

"Don't try," said Shen Huai. "Yesin holds 30% of the shares of the City Commercial Bank. In addition to the two seats on the board of directors, Zhang led a team of 20 people to enter the comprehensive rectification of the business. The City Commercial Bank is now almost entrusted to Yesin for management. Yesin Bank is also worried about the risk of debt financing, so I have nothing to say..."

The registered capital of the city commercial bank was tentatively set to be 300 million yuan. Except for the original Urban Credit Union, which was converted into a net asset of 90 million yuan and held by Donghua Jingtou, the remaining registered capital comes from Yexin Bank, Zhujiang Investment and the listed company Meixi Industry.

During the process of additional issuance and restructuring, listed companies raised a huge amount of funds of 730 million from Meigang and Xucheng local securities institutions.

After paying 400 million yuan in backdoor cost for 400 million yuan in corporate shares of listed companies, Meigang Group's short-term financial potential was suddenly exhausted and there was no possibility of continuing to expand its investment.

However, although the 730 million yuan cash held by the listed company was agreed to be mainly used for the construction of Zhunan Refining and Chemical Base, it was considered a formal equity investment to invest 90 million yuan from it.

At the beginning of the construction of Zhunan Refining and Chemical Base, it was far from needed so much money. Instead of sedimenting it in the bank account to eat the pitiful interest, it would be better to invest it.

After all the assets of Meigang Factory 1 and 2 are injected into the listed company, the profits generated every month belong to the listed company.

It is expected that Meigang Factory 1 and 2 can generate three to four net profits during the construction of Zhunan Refining and Chemical Base. During this period, it is a positive and enterprising financial attitude to take out the corresponding deposited funds to find other reasonable investment channels.

Although Meigang Group, Zhongxin, Hongji, Zhujiang and others hold 1.2 billion shares of various stocks of listed companies and have absolute voice, Meigang has discussed related investment plans with securities institutions that Xu Cheng has a stake in listed companies.

If listed companies want to maintain their current stock prices, the profits of Meigang Factory 1 and Factory 2 are still not enough. The profit expectations of Zhunan Refining and Chemical Project are not very obvious. The current booming banking industry is an extremely important investment channel.

Although there are many bad debt problems among state-owned commercial banks, medium-sized commercial banks such as Yexin Bank have very rapid asset appreciation, and the annual net asset growth rate is almost more than 40% or 50%.

Donghuacheng Commercial Bank almost completely adopts the mature management team of Yexin Bank, and is rooted in Donghua, which has the fastest economic exhibition in Huaihai Province. Relying on Donghua's most important plum steel system, the development prospects are naturally promising.

If the city commercial banks had not had strict restrictions on the entry of private capital and had all used up all the quotas for Donghua local enterprises, Xucheng's securities institutions would have wanted to directly participate in the investment in Donghuacheng Commercial Bank. Now, indirect participation through listed companies would be considered better than nothing.

In addition, Zhujiang Investment has invested 30 million to participate in the capital injection of urban commercial banks and held 10% of the equity, which can only be considered better than nothing.

As representatives of local private capital in Donghua, Zhujiang Investment, located in the subsequent areas, also developed rapidly, but due to the participation of Xinpu Shipping Group, Xudong Railway East Extension Line, 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 scale of Yexin's lending in Donghua, Zhujiang Investment owns this equity asset and has no way to mortgage it for the time being.

After the establishment of the city commercial bank, except for nearly 100 million fixed assets, only 200 million capital can be used for expansion. For local commercial banks, it has a very good starting point.

Now the capital adequacy ratio of domestic local commercial banks only needs to reach 5%, that is, Donghuacheng Commercial Bank can theoretically support the total asset scale of 6 billion, that is, build another Industrial Bank in Donghua.

To be truly practiced, urban commercial banks should expand at the development speed of Yexin in Donghua in the past two years, and the capital of 200 million is seriously insufficient; therefore, Chen Huai proposed that Yexin Bank could provide City Commercial Bank with 200 million additional long-term bond financing.

The risk levels of banks' risk management of assets and lending to enterprises are completely different from those of interbank banks.

Yexin Bank has contracted its lending to Donghua City enterprises and local infrastructure projects, but it does not strictly limit the bond financing of Donghua City Commercial Bank. Yao Ronghua has to admit that Chen Huai and his friends are turning their minds fast enough and try every means 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. Whether it can be completed in the end depends on the attitude of the head office. He is only responsible for the work.

In short, the city commercial bank now has 200 million yuan in funds, and it also takes a process to expand and expand. There is no problem with the 200 million yuan in debt financing for a year and a half to solve it.

When it came, Yao Ronghua said to Chen Huai again: "The city commercial bank is about to be established, and in the future operation direction, I personally advocate that we should support small and medium-sized enterprises more vigorously. Now Donghua's economy mainly relies on large enterprises such as Meigang, Shenggang, Baohe, and Huaineng to support a relatively grand framework. It can be said that it is a very successful model. However, the skeleton is strong and the texture must be rich. Without sufficient support from small and medium-sized enterprises, it is still difficult to fully improve the economic vitality and employment adequacy ratio..."

Chen Huai nodded. Donghua City's entire steel manufacturing industry is mainly supported by Mei Steel, Provincial Steel, Fuji Steel, Huailian Heavy Industry and other companies. About 80% of the output value is shared by these companies. However, in the field of steel finishing processing, Meixi Steel Industrial Park alone has gathered more than 100 small and medium-sized enterprises in the past few years.

This is also the demonstration effect of wealth aggregation at work. Any industry with high profits can quickly attract a large amount of private capital to enter. This is almost a common trend in China.

Of course, the basic steelmaking and heavy industry manufacturing industries have relatively high requirements for capital and technology, but relatively dispersed areas of finishing and application have become the core area for the entry of private capital.

After the 100,000 stainless steel refining line of Meigang Factory No. 3 was launched, Meixi quickly attracted more than ten stainless steel manufacturing companies to enter. Xinpu Steel Plant has not been finally completed and put into production, but the number of supporting facilities and downstream small and medium-sized enterprises has also reached more than 30.

However, most of the private capitals that Donghua and those entering Donghua to invest in the steel manufacturing industry are very weak. The total investment of 100 companies in Meixi Steel Industrial Park, except for some large companies such as Huailian Heavy Industry, is less than 1 billion yuan.

On the one hand, small and medium-sized enterprises are extremely eager for funds in the development of development. On the other hand, domestic banks are too much loan funds to state-owned enterprises, large industries and infrastructure projects, and support for small and medium-sized enterprises is seriously insufficient, which has kept the annual interest rate of private loans in Donghua in recent years.

Meigang is trying to extend upstream at this time, but supporting downstream industrial clusters can further ensure the safety of Meigang's downstream market. This work was a bit negligent in the past, but now it is time to strengthen it.

In addition, although these small and medium-sized enterprises may not be as large as Meigang's family's investment and tax payment scale, the jobs they create are five or six times that of Meigang.

Although local governments regard investment promotion as the core of their current work, some domestic and foreign media criticize and do not pay enough attention to people's livelihood, these media rarely realize that the core issue of people's livelihood lies in employment, which returns to economic development.

When it comes to employment, Chen Huai was also quite proud and laughed at Xiong Wenbin and others, "Meixi New District has created more than 100,000 jobs in recent years. This can be regarded as reducing the pressure for the reform of state-owned enterprises to the greatest extent? This really makes Gao Tianhe and others get a cheaper one..."

Xiong Wenbin smiled. The operating conditions of state-owned enterprises in Donghua City have changed a lot in the past two years. Even if some of the burdens have to be abandoned, only three to five thousand laid-off employees will be arranged every year. The development speed of Meixi New District is enough to digest.

The rapid increase in fiscal revenue can also provide corresponding living security for laid-off workers who cannot find a job for the time being.

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

Now this work is under Gao Tianhe, and Han Shouchun is in charge, so it can be said that they are asked to take off a good fruit.
Chapter completed!