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First innovative financial program established in Yiwu PDF Print E-mail
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Friday, 08 April 2011 01:58

  The establishment of the third-party financial storage enterprise was approved recently,which is the first innovative financial program to be established after Yiwu became the pilot city of comprehensive reform in international trade.This enterprise will bring small enterprises another way of financing,thus providing a solution to loan problem.

  It is learned that the newly-established Yiwu Yongjin Storage Co.,Ltd has signed a strategic cooperation agreement with two local financial institutions. From now on,small businesses in need of money can get bank loan by leaving movables like raw materials with the third-party storage enterprise as a pledge to be safeguarded and supervised.

  The new financing model is as follows: Firstly,small enterprises entrust goods to a third-party enterprise and get a piece of golden storage receipt
with which the goods can be taken back in future; next,small enterprises can get bank loan by pledging the receipt; and then,the bank will give
back the receipt after the debtors repay the loan,and the pledge record between bank and the third-party enterprise will be cancelled; at last,small enterprises can regain the goods with the receipt.

  In a traditional credit model,enterprises have to provide immovable properties including factories or machinery equipments for loan.However,many small companies have neither factories nor top quality equipments,so they can 't getl oans.Some local insiders say that the introduction of financial storage enterprises will extend the channel of financing.It helps solve the loan problem for small companies,and meanwhile improve companies 's utilization rate of resources.

 

 
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