supply chain finance, which was predicted to reach 15 trillion yuan in 2020, has developed rapidly in recent years. however, the participation of numerous institutions, hidden loan fraud and other phenomena also highlighted. on july 16, beijing business newspaper reporter learns from within, silver insurance regulatory commission recently distributed to the major commercial banks, insurance companies, general office of the china silver circ about pushing supply chain financial service entity economic guidance "(silver baojianban hair [2019] no. 155) (hereinafter referred to as the" 155 "), article 22 the content includes five aspects, the specification is intended to guide the bank insurance institutions to carry out the supply chain finance business, specifications supply chain finance business model innovation, improve the supply chain business management system, strengthening the financial risk control of supply chain has made a more detailed provisions.
clarify the principle of true transaction background
the so-called supply chain finance is a comprehensive financial product and service provided to upstream and downstream enterprises of the supply chain by closing the capital flow or controlling the property right through professional means such as accounts receivable financing, order financing, prepayment financing and inventory pledge financing, centering on the core enterprises and taking the real trade background as the premise. in october 2017, the guidance on actively promoting innovation and application of supply chain issued by the general office of the state council clearly pointed out that commercial banks, small, medium and micro enterprises should actively and prudently develop supply chain finance.
however, after a period of development, the risk events in the supply chain finance business have been exposed, so the circ issued the "new regulations on supply chain finance".
article 155 proposes that banking and insurance institutions should adhere to four basic principles when carrying out supply chain finance business: adhere to precise financial services, take market demand as the orientation, focus on supporting industrial chain enterprises that conform to the direction of national industrial policy, focus on real economy, advanced technology, and have market competitiveness; adhere to the real background of the transaction, and guard against false transactions, fictitious financing, illegal profit phenomenon; insist on the availability of transaction information to ensure direct access to original transaction information and data; we should not only pay attention to the changes of risks in core enterprises, but also examine the risks in upstream and downstream enterprises.
meanwhile, no. 155 encourages banks to strengthen cooperation with core enterprises of the supply chain, and promotes core enterprises to increase credit for upstream and downstream chain enterprises or provide effective information to banks, so as to realize the coordinated and healthy development of the whole industrial chain.
release of silver circ "supply chain finance new rules", suning sun yang, director of the center for financial institute of science and technology, said in an interview with beijing commercial daily reporter the regulatory rules issued a relatively detailed, mainly depends on the core enterprise supply chain, the core enterprise supply chain requirements must be the real economy, and can't be a virtual economy, the new rules also demanded that banks must obtain first-hand real trade background, and cannot handle the second-hand information is through other people.
encourage the use of technology to improve risk control
recently, the default detonation of multiple institutional asset management products with supply chain finance as the underlying asset has aroused hot discussions in the market. compared with traditional financial services, supply chain financial risks are dynamic, transferability and complexity. article 155 also strengthens the control of the overall risk of supply chain finance from five aspects.
article 155 proposed that banking financial institutions should establish and improve the risk control system for the whole chain of supply chain finance, according to the characteristics of supply chain finance business, improve the pertinence and effectiveness of risk management in each link before, during and after the event, to ensure the flow of funds to the real economy. it is necessary to strengthen the monitoring of the operation status of core enterprises and the transactions between core enterprises and upstream and downstream chain enterprises, analyze the historical transaction records of the supply chain, and strengthen the tracking and management of logistics, information flow, capital flow and third-party data.
in lianxun securities chief macro researcher li qilin looks, supply chain finance before lending, lending, lending after there may be risks. in terms of pre-loan, with the development of network file transmission, digital signature, big data analysis and block chain technology, supply chain finance presents an online trend. the audit of supply chain finance by banks is mainly the materials provided by enterprises. the development trend of online makes banks rely too much on words and documents in the audit. some small and medium-sized enterprises may cheat loans by virtue of supply chain financial loans and preferential financial policies. in terms of loans, smes will divert funds to do things other than production, such as paying employees' salaries, without improving the cash flow of the entire supply chain and weakening the enterprise's ability to repay loans in the future. after lending, the unstable operation of smes may bring credit risk problems.
therefore, article 155 requires banking financial institutions to conduct due diligence and professional judgment on the authenticity and rationality of transactions when carrying out supply chain financing business. banks and insurance institutions are encouraged to embed new technologies such as the internet of things and blockchain into the transaction process, and use mobile sensing video, electronic fence, satellite positioning, radio frequency identification and other technologies to conduct remote monitoring of logistics and inventory goods, so as to improve the level of intelligent risk control.
in terms of strengthening compliance management, document no. 155 requires that banking and insurance institutions should strengthen the compliance management of supply chain finance business, earnestly carry out business innovation in compliance and prudence in accordance with the requirements of returning to the source and focusing on the main business, and prohibit illegal exhibition of business or disguised business without permission in the name of financial innovation. multilateral asset trading platforms providing intermediary services such as matching and quotation shall not be established in the name of supply chain finance.
centralized and unified management should be strengthened
while supply chain finance business has developed rapidly in, but on the market in the name of "supply chain finance" pseudo countless innovation, either provide the channel or fictitious transactions, often the essence or core enterprise credit endorsement, conflict with the innovation of the supply chain finance development, under the fire, supply chain finance is still a lot of pain.
in the view of dong ximiao, deputy director of chongyang financial research institute of renmin university of china, supply chain finance involves many industries, and financial institutions often do not have a deep understanding of the upstream and downstream industries of the supply chain, so the business development will be affected. secondly, there are widespread data gaps and information islands in supply chain finance, especially the phenomenon of unilateralization, privatization and closure of core enterprise data. in addition, the supply chain finance business is also faced with the problem of qualification license. "there are many participants in supply chain finance, but they do not have the qualification and license to engage in financial business except financial institutions, which leads to some chaos." finally, supply chain finance lacks of standard and system.
sun yang also analysis that supply chain finance if you want to use financial technology means, the cost is high. supply chain finance is not complete enough in the official credit investigation system, so the supervision should establish a credit investigation management system for such a large chain of supply chain finance, so that enterprises with good credit and no fraud can realize financing needs in this system. increase the illegal cost of counterfeiting enterprises and related enterprises that do not regulate the supply chain.
source: beijing business news