Source: Taian Voice, Ticket Network
Representative of the National People's Congress, Deputy Secretary of the Party Committee, Vice Chairman and General Manager of Taikai Group Co., Ltd. Liu Xuemin submitted the "Proposal on Further Strengthening Financial Support for Private Enterprises" during the National "Two Sessions". She suggested a full cancellation of acceptance bills, including bank acceptance bills and commercial acceptance bills.
Liu Xuemin said that the acceptance bill as a kind of bill business (including bank acceptance bills and commercial acceptance bills) is the business within the business scope of commercial banks as stipulated in the Commercial Bank Law promulgated on September 10, 1995. This temporary measure to solve the problem of cash shortage did have a very good effect at the time. However, at the present stage of development, from the current actual situation, the use of acceptance bills has greatly increased the financial costs and risks of SMEs. Now the cancellation of acceptance bills has become a common voice of small and micro enterprises.
Liu Xuemin believes that from a macro perspective, bank acceptance bills accelerate the transfer of profits from the real economy to the financial industry. The bank uses the dominant market position and forcibly allocates a large number of bank acceptance bills to the market during the credit granting process. Financial enterprises can issue bank acceptance bills without deposits as support. It can be said that there is basically no cost, but enterprises need to discount the bank at a cost of about 5%. In the case of a downturn in the real economy, corporate profit margins continue to fall, and some corporate profits Only 1-2%, unnecessary financing costs have taken away the meager profits earned by enterprises, which has aggravated the dilemma of enterprises.
From a circulation perspective, acceptance bills cannot solve the much-needed funding needs. Acceptance bills cannot be used for enterprises to pay wages, pay taxes, pay bank loan interest, and pay for five funds and one gold. Even if the discount is applied, it is necessary to provide relevant procedures, and the efficiency of individual banks is low, and the cash is not received in the short term.
According to the "Proposal on Further Strengthening Financial Support for Private Enterprises" submitted by Liu Xuemin, the acceptance bills increase the capital cost of enterprises.
She told reporters that if the acceptance of the acceptance bill is expired, it is usually one year and half a year, which leads to a longer period of enterprise capital turnover and an increase in occupancy; if the acceptance of the acceptance bill is received in advance, the fee and discount interest will be paid. Some of the acceptance bills issued by small banks often have to be delayed after they expire, and they still need to guarantee the company's guarantee and pay the guarantee fee.
Liu Xuemin analyzed that a large number of acceptance bills, banks do not give discounts, can only be held until maturity. Some bills of exchange expired and cannot be redeemed immediately. Time cannot be guaranteed. Enterprises must increase manpower and material resources to communicate and coordinate. In order to get cash quickly, many companies can only venture to sell on the “black marketâ€. There is no real trading background, evading supervision and disrupting financial order.
At the same time, Liu Xuemin believes that the management of paper acceptance bills is very difficult, and it is prone to fraud and fraud. The enterprise is the ultimate victim. Although the country is gradually canceling the paper bank acceptance, the paper commercial acceptance bill has not been cancelled.
In response to the above drawbacks, Liu Xuemin suggested that the acceptance bill be cancelled altogether. How to cancel, Liu Xuemin also gave advice in the proposal submitted by herself. She said that it can be implemented step by step. First, stop issuing new acceptance bills. Secondly, the current circulation of bills of exchange will not continue until the expiration. Issued.
The sound of cancellation has been around for a long time
In fact, the cancellation of the acceptance bill has been around for a long time. It should have been paid in real money. The result was only a piece of paper or a ticket, and anyone in the heart would have an idea.
Since the acceptance bill is so unpopular, why is the country not canceled?
Here, we must mention the reason for the birth of the acceptance bill. The procurement has procurement requirements and contracts with the supplier. The purchaser has limited funds, so the buyer is asked to issue an acceptance bill to the supplier, and promises that the bill will be paid due.
If there is no acceptance bill, the purchaser has no money and the supplier will not supply it. The deal may not be reached.
But in this case, it seems that the acceptance bill is prepared for the biller, should the ticket collector back the pot?
actually not. The bank acceptance bill is much higher in credibility than the accounts receivable. If the funds are used urgently, they can be discounted or paid to the next party in advance, instead of bitterly paying the other party.
I specifically look at the advantages of bank acceptance bills:
1. Low threshold, high efficiency and easy procedure
In the process of bank credit approval, enterprises often have the characteristics of long approval period and many qualification requirements, which makes many small and medium-sized enterprises deterred from bank credit. The use of bank acceptance bills for discounted financing is basically not limited by the size of the company. Enterprises open bank acceptance bills. As long as there is a real trade background and margin as the basis, the risk of bank funds withdrawal is reduced to the utmost extent. Therefore, the threshold is low and the approval is efficient and simple.
2. Low financing costs and interest rate marketization
The discount rate of bank acceptance bills is highly market-oriented. When the inter-bank funds are abundant, it is much lower than the loan interest rate for the same period. The opening of bank acceptance bills for discount financing generally does not require mortgage, and the issuing bank only has a handling fee of five ten thousandths. In general, the funds obtained through discounting bank acceptance bills can reduce interest expenses by more than 30% compared with obtaining equal loans.
3. Promote the relationship between banks and enterprises to achieve a win-win situation for banks and enterprises
With bank acceptance bill financing, companies can obtain efficient and low-cost financing channels. At the same time, the bank can also achieve the improvement of income: for the billing bank, the handling fee is charged for the bill business, and the margin deposit is increased; for the current posting, the discount interest income can be increased.
4. Reduce the risk of receivables and save management costs
For the invoicing enterprises, the forward accounts become “spot†bills, avoiding the risk that the accounts cannot be recovered, and greatly reducing the bad debt losses. Therefore, enterprises no longer bear the work and expenses of asset management and account recovery, thus greatly reducing management costs.
5. Deduct tax in advance and increase cash flow
The tax law stipulates that the VAT input tax can only be deducted after the payment of the goods purchased by the commercial enterprise is completed. If the commercial enterprise issues a bank acceptance bill, it can deduct the VAT input tax after it is opened, which can bring certain liquidity to the enterprise.
What do you think?
Compared with bank acceptance bills, commercial acceptance bills may be more headache for the public receiving companies. The discount rate of silver tickets is 3-4% annualized, but the commercial bills are not more than ten or twenty years. About one-fifth of the commercial bills of the year will be used as discounted fees. This is also due to the current lack of domestic credit information and the free opening of commercial tickets.
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Editor in charge: Ge Hongyan
Proofreading: Ge Hongyan
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