At a time when inflation is high and economic expectations are falling, the deterioration of business operations through large-scale tax cuts is a common method adopted by most countries.
Closed tide strikes?
On June 1st, Children's Day, but employees of Dongguan Dingjia Knitting Garment Co., Ltd. may not be in the mood to accompany their children for the holiday because they suddenly become unemployed.
This morning, everything was normal again, but when they had to go to work in the afternoon, the workshop had already been guarded and said no to work. Subsequently, large and small suppliers also flocked to the factory. At least 80 vehicles left the factory area unrestricted. Boss Han Haolin did not appear. They realized that for more than 20 years, this factory had relatively "stable" owners of its own land and factory buildings, owed more than 30 million suppliers of goods and workers had "missed" millions of wages in May.
In contrast, more than 300 employees of Jiangnan Leather Co., Ltd. in Wenzhou were fortunate enough to receive at least wages. Jiangnan Leather is a well-known enterprise in Longwan District of Wenzhou City. On April 5, Qingming Festival, Jiangnan Leather had a day off. The next day, it should have gone to work normally, but the employee was told to continue the vacation. This holiday continues until now. Fortunately, under the regulation of the relevant government departments, a shareholder of the company paid the employee's salary.
There are more than two companies that have died. Shortly after Jiangnan Leather, local cell phone chain brands Portman and Hong Kong, the owner of Yan Gang, Yan Qin’s mobile phone for the couple also suddenly became impassable. Later, the old company Sanqi Group also announced the information about to close down. In mid-June, Ye Jianle, owner of Zhejiang Tianshi Electronics Co., Ltd., suddenly walked away. Most recently, on July 13th, the owner of Dongguan Suyi Toys Co., Ltd. also “mysteriously disappeared†after carrying about 5 containers of cargo.
One is China's manufacturing industry, and the other is the symbol of China's private economy. The recent closure of SMEs in Dongguan and Wenzhou has provoked people's nerves. As a result, the "Wenzhou business collapse", "Dongguan is now closed down," and other news spread wildly, vividly.
Chen Bo, owner of the takeoff garment factory in Guangzhou Kangle Village, was not surprised by this type of news. Chen Bo's factory is not very large. He told reporters that the factory he operates is facing a situation that is "difficult and difficult." On the one hand, due to the exchange rate fluctuations, the factory did not dare to receive a large amount of foreign orders; on the other hand, the prices of raw materials, labor costs, and hydropower also rose, and continued to squeeze profit margins.
The owner of a garment processing company in Luoxia District, Shenzhen, is more sensitive to the increase in labor costs. “Originally, one person earns a monthly salary of 1,000 yuan, now it is generally more than 2,000, and some skilled workers are even as high as four or five thousand. ."
The salary increase of employees has only just begun. The Ministry of People's Insurance Department recently expressed to the public the determination to double wages in five years and increase wages by 13% annually for the next five years. However, even if wages rise further, SMEs face the dilemma of “no worriesâ€.
In the Wenzhou Industrial Park, most of the company’s entrances are hung with recruitment information all the year round, and the word “emergency hire†is very large. According to Liu Xi, a personage manager of Xia Mengyijie Clothing Co., Ltd., although the wage of workers this year has increased by about 20% from the same period of last year, there is still a 10% labor shortage. According to a survey conducted by the Wenzhou City Economic and Trade Commission, 74.5% of the 855 enterprises in Wenzhou said that the number of workers is relatively low, which is 14% higher than the same period of last year.
In addition to these, exchange rate increases, electricity shortages, and money shortages are also ravaging SME owners. Under heavy pressure, some business owners have begun to set foot in other industries. Sticking to the Bank's originality has not much confidence, and successive rumblings of collapse have allowed them to More lost.
In order to avoid the spread of panic, relevant parties have clarified the “closed tideâ€. Huang Yi, director of the Dongguan City SME Bureau, believes that the media reports that some toy companies and textile companies have closed down are only individual phenomena.
According to Wenzhou investigations, the reason why Jiangnan’s sudden death from leather is the boss Huang He’s “losing several hundred millionâ€; Portman is mainly due to decision errors and mismanagement; while Yueqing Sanqi Group is caught in a “debt crisisâ€. But still in production. The problems of these three companies have been long-standing and have not been suddenly closed down this year. According to statistics from the Wenzhou Administration for Industry and Commerce, at the end of the first quarter, there were 534 private company write-offs, a decrease of 14.56% year-on-year. However, 73,200 private enterprises registered in the city recorded a record high.
At the press conference on the industrial situation in the first half of July held on July 21, Zhu Hong, a member of the Party Committee of the Ministry of Industry and Information Technology, stated: “After investigation, we can tell you responsibly that there are no SMEs that have collapsed or closed down. This situation.†But at the same time, he also admitted that it is indeed very difficult for some SMEs to survive.
According to statistics released recently by the Ministry of Industry and Information Technology, in the first two months of this year, SMEs above designated size achieved a loss of 15.8%, an increase of 0.3% over the same period, and a growth rate of 22.3%. The scale of small enterprises, the loss may be more serious.
Recently, Zhou Dewen, president of the Wenzhou SME Association, described the current status of SMEs as “on the edge of the crisis.†He believes that “if the government does not save the country, 40% of the national SMEs will be discontinued and discontinued in the second half of this year. It even closed down.†The first vice-president of the All-China Federation of Industry and Commerce (ACFTU) predicted that an estimated number of companies will begin to die in August.
Who will come to blood transfusions SMEs Recently, Guangzhou Liwan District, Shangxiajiu pedestrian street has been discovered "1 yuan clothing", the relevant personage said that this situation had only occurred in the 2008 financial crisis, the reason why companies take the clothes when the cloth Selling is to increase some cash flow.
In fact, the shortage of funds is often the last straw to suppress SMEs. Relevant information shows that the direct cause of the collapse of these companies is the breakdown of the capital chain.
The continuous increase in various costs has made many SMEs more eager for credit funds. However, the gradual tightening of monetary policy has made the capital chain of these companies begin to tighten.
According to the latest data from the Wenzhou Center Branch of the People's Bank of China, the total amount of new entrants in Wenzhou in January-March was 23.838 billion yuan, which was equivalent to 66.5% of the same period last year. Enterprises that fail to make loans can only turn their attention to private lending, leading to rising interest rates for private lending.
At the end of March, the comprehensive interest rate of Wenzhou's private lending market was 24.81%, equivalent to a monthly interest rate of more than 2 points. The interest rates in January-March this year were 23.01%, 24.14%, and 24.81% respectively, showing a gradual upward trend.
Zhou Dewen, chairman of the Wenzhou SME Promotion Association, was worried. "If the monetary base continues to tighten, there will be many SMEs in the capital chain tension."
However, the reality is that most SMEs simply cannot get from banks. SME financing is always an open question.
In response, there is a voice that the government should eliminate discrimination against private finance, and gradually open up private lending, so as to sparing them, and channeling it to low-cost small and medium-sized enterprises. "Non-governmental finances are easily linked with '***' and 'illegal fundraising'. This has always been an extremely sensitive issue. However, if the interest rate on private lending is liberalized, the cost of SME lending will not be as high as it is now."
Another voice calls for the government to reduce taxes for SMEs.
The Ministry of Finance recently released data that the national tax revenue in the first half of the year was 500.843 billion yuan, a year-on-year increase of 29.6%, while the year-on-year increase in GDP was only 9.6% at comparable prices. Among them, the contribution of SMEs to tax revenue is as high as 50%. This means that through taxation, the profits of SMEs are further compressed.
Some companies complained that "the government collects 6 points of national tax and 2.5 points of local tax. If you open a wholesale point, you have to pay 4 points of sales tax, and the total is already 12.5, although it is impossible to The amount is levied, but if it is really collected in full, everyone will not be able to survive. This is not enough to take cards."
In fact, at a time when inflation is high and economic expectations are declining, responding to the deteriorating business conditions through large-scale tax cuts is a common method adopted by most countries. However, China has not introduced any measures since 2008. Hui’s massive tax cuts. Because of the constraints imposed by China's current tax system, local governments do not have the power to decide on the tax system. Tax relief should be a general policy, but in the actual operation level, most of them have introduced some minor supplementary provisions, and tinkering with them cannot solve the problem fundamentally.
Closed tide strikes?
On June 1st, Children's Day, but employees of Dongguan Dingjia Knitting Garment Co., Ltd. may not be in the mood to accompany their children for the holiday because they suddenly become unemployed.
This morning, everything was normal again, but when they had to go to work in the afternoon, the workshop had already been guarded and said no to work. Subsequently, large and small suppliers also flocked to the factory. At least 80 vehicles left the factory area unrestricted. Boss Han Haolin did not appear. They realized that for more than 20 years, this factory had relatively "stable" owners of its own land and factory buildings, owed more than 30 million suppliers of goods and workers had "missed" millions of wages in May.
In contrast, more than 300 employees of Jiangnan Leather Co., Ltd. in Wenzhou were fortunate enough to receive at least wages. Jiangnan Leather is a well-known enterprise in Longwan District of Wenzhou City. On April 5, Qingming Festival, Jiangnan Leather had a day off. The next day, it should have gone to work normally, but the employee was told to continue the vacation. This holiday continues until now. Fortunately, under the regulation of the relevant government departments, a shareholder of the company paid the employee's salary.
There are more than two companies that have died. Shortly after Jiangnan Leather, local cell phone chain brands Portman and Hong Kong, the owner of Yan Gang, Yan Qin’s mobile phone for the couple also suddenly became impassable. Later, the old company Sanqi Group also announced the information about to close down. In mid-June, Ye Jianle, owner of Zhejiang Tianshi Electronics Co., Ltd., suddenly walked away. Most recently, on July 13th, the owner of Dongguan Suyi Toys Co., Ltd. also “mysteriously disappeared†after carrying about 5 containers of cargo.
One is China's manufacturing industry, and the other is the symbol of China's private economy. The recent closure of SMEs in Dongguan and Wenzhou has provoked people's nerves. As a result, the "Wenzhou business collapse", "Dongguan is now closed down," and other news spread wildly, vividly.
Chen Bo, owner of the takeoff garment factory in Guangzhou Kangle Village, was not surprised by this type of news. Chen Bo's factory is not very large. He told reporters that the factory he operates is facing a situation that is "difficult and difficult." On the one hand, due to the exchange rate fluctuations, the factory did not dare to receive a large amount of foreign orders; on the other hand, the prices of raw materials, labor costs, and hydropower also rose, and continued to squeeze profit margins.
The owner of a garment processing company in Luoxia District, Shenzhen, is more sensitive to the increase in labor costs. “Originally, one person earns a monthly salary of 1,000 yuan, now it is generally more than 2,000, and some skilled workers are even as high as four or five thousand. ."
The salary increase of employees has only just begun. The Ministry of People's Insurance Department recently expressed to the public the determination to double wages in five years and increase wages by 13% annually for the next five years. However, even if wages rise further, SMEs face the dilemma of “no worriesâ€.
In the Wenzhou Industrial Park, most of the company’s entrances are hung with recruitment information all the year round, and the word “emergency hire†is very large. According to Liu Xi, a personage manager of Xia Mengyijie Clothing Co., Ltd., although the wage of workers this year has increased by about 20% from the same period of last year, there is still a 10% labor shortage. According to a survey conducted by the Wenzhou City Economic and Trade Commission, 74.5% of the 855 enterprises in Wenzhou said that the number of workers is relatively low, which is 14% higher than the same period of last year.
In addition to these, exchange rate increases, electricity shortages, and money shortages are also ravaging SME owners. Under heavy pressure, some business owners have begun to set foot in other industries. Sticking to the Bank's originality has not much confidence, and successive rumblings of collapse have allowed them to More lost.
In order to avoid the spread of panic, relevant parties have clarified the “closed tideâ€. Huang Yi, director of the Dongguan City SME Bureau, believes that the media reports that some toy companies and textile companies have closed down are only individual phenomena.
According to Wenzhou investigations, the reason why Jiangnan’s sudden death from leather is the boss Huang He’s “losing several hundred millionâ€; Portman is mainly due to decision errors and mismanagement; while Yueqing Sanqi Group is caught in a “debt crisisâ€. But still in production. The problems of these three companies have been long-standing and have not been suddenly closed down this year. According to statistics from the Wenzhou Administration for Industry and Commerce, at the end of the first quarter, there were 534 private company write-offs, a decrease of 14.56% year-on-year. However, 73,200 private enterprises registered in the city recorded a record high.
At the press conference on the industrial situation in the first half of July held on July 21, Zhu Hong, a member of the Party Committee of the Ministry of Industry and Information Technology, stated: “After investigation, we can tell you responsibly that there are no SMEs that have collapsed or closed down. This situation.†But at the same time, he also admitted that it is indeed very difficult for some SMEs to survive.
According to statistics released recently by the Ministry of Industry and Information Technology, in the first two months of this year, SMEs above designated size achieved a loss of 15.8%, an increase of 0.3% over the same period, and a growth rate of 22.3%. The scale of small enterprises, the loss may be more serious.
Recently, Zhou Dewen, president of the Wenzhou SME Association, described the current status of SMEs as “on the edge of the crisis.†He believes that “if the government does not save the country, 40% of the national SMEs will be discontinued and discontinued in the second half of this year. It even closed down.†The first vice-president of the All-China Federation of Industry and Commerce (ACFTU) predicted that an estimated number of companies will begin to die in August.
Who will come to blood transfusions SMEs Recently, Guangzhou Liwan District, Shangxiajiu pedestrian street has been discovered "1 yuan clothing", the relevant personage said that this situation had only occurred in the 2008 financial crisis, the reason why companies take the clothes when the cloth Selling is to increase some cash flow.
In fact, the shortage of funds is often the last straw to suppress SMEs. Relevant information shows that the direct cause of the collapse of these companies is the breakdown of the capital chain.
The continuous increase in various costs has made many SMEs more eager for credit funds. However, the gradual tightening of monetary policy has made the capital chain of these companies begin to tighten.
According to the latest data from the Wenzhou Center Branch of the People's Bank of China, the total amount of new entrants in Wenzhou in January-March was 23.838 billion yuan, which was equivalent to 66.5% of the same period last year. Enterprises that fail to make loans can only turn their attention to private lending, leading to rising interest rates for private lending.
At the end of March, the comprehensive interest rate of Wenzhou's private lending market was 24.81%, equivalent to a monthly interest rate of more than 2 points. The interest rates in January-March this year were 23.01%, 24.14%, and 24.81% respectively, showing a gradual upward trend.
Zhou Dewen, chairman of the Wenzhou SME Promotion Association, was worried. "If the monetary base continues to tighten, there will be many SMEs in the capital chain tension."
However, the reality is that most SMEs simply cannot get from banks. SME financing is always an open question.
In response, there is a voice that the government should eliminate discrimination against private finance, and gradually open up private lending, so as to sparing them, and channeling it to low-cost small and medium-sized enterprises. "Non-governmental finances are easily linked with '***' and 'illegal fundraising'. This has always been an extremely sensitive issue. However, if the interest rate on private lending is liberalized, the cost of SME lending will not be as high as it is now."
Another voice calls for the government to reduce taxes for SMEs.
The Ministry of Finance recently released data that the national tax revenue in the first half of the year was 500.843 billion yuan, a year-on-year increase of 29.6%, while the year-on-year increase in GDP was only 9.6% at comparable prices. Among them, the contribution of SMEs to tax revenue is as high as 50%. This means that through taxation, the profits of SMEs are further compressed.
Some companies complained that "the government collects 6 points of national tax and 2.5 points of local tax. If you open a wholesale point, you have to pay 4 points of sales tax, and the total is already 12.5, although it is impossible to The amount is levied, but if it is really collected in full, everyone will not be able to survive. This is not enough to take cards."
In fact, at a time when inflation is high and economic expectations are declining, responding to the deteriorating business conditions through large-scale tax cuts is a common method adopted by most countries. However, China has not introduced any measures since 2008. Hui’s massive tax cuts. Because of the constraints imposed by China's current tax system, local governments do not have the power to decide on the tax system. Tax relief should be a general policy, but in the actual operation level, most of them have introduced some minor supplementary provisions, and tinkering with them cannot solve the problem fundamentally.
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