Status of micro loan guarantees and bottleneck"China finance"

From: http://blog.sina.com.cn/s/blog_6464b5010102e3a3.html

1, the small loan guarantee situation

 

China poverty population and small and medium-sized enterprises (micro enterprises) due to the lack of effective collateral or guarantees with strong ability of the guarantor and many banks shut sb., so they lack the initial funding or technical transformation funds and other cash and lost a lot of good business opportunities for profit, which fall into poverty or low trap inextricably bogged down in. In order to solve this problem, micro credit emerge as the times require. Microfinance, refers to the low income stratum (small and medium-sized enterprises and the poor group) to provide loan services, its essence is the traditional financial not covered, the majority of production ability and desire to provide low-income loans, make it through their own efforts to get rid of poverty and to accelerate the development of.

 

If countries like Bangladesh, have China microfinance pilot for 10 years, microfinance has been rapid development in the rural credit cooperatives, rural cooperative financial institutions to become the brand business. But because of various reasons, leading to expand microfinance has not reached a certain coverage, small and medium-sized enterprises and the poor group loans, bank loan difficult problem has still not been fundamentally resolved. Among them, one of the main reasons is difficult to guarantee, defects of microfinance guarantee system restricts the microfinance sustainable development.

 

Status China small loan guarantee is mainly manifested in the following aspects:

 

Not the chattel mortgage bank loans are still the main way of security. Banks in handling the small loan guarantee business, still tend not to chattel mortgage. Taking Huaxi district as an example, as of 9 at the end of 2010, Guizhou Huaxi rural cooperative bank in the Huaxi District of the deposit, loan scale accounted for nearly 50%, Guizhou Huaxi rural cooperative bank loan of 2500000000 yuan, except for small farmers credit 700000000 yuan, other real estate mortgage loans accounted for 90%, industrial and Commercial Bank of China Huaxi Branch Construction Bank, Huaxi branch, Huaxi branch of Agricultural Bank, Guiyang City Commercial Bank Huaxi branch of the financial institutions and not the chattel mortgage loans to total loans of more than 90%. The above data show that the bank loan guarantee way preference in the choice of the immovable property mortgage, especially the real estate mortgage.

 

The pledge of rights is the slow development of small loan. In order to meet the development of small business loans, in recent years, the bank continued innovation pawn, certificates of deposit, in the management of warehouse receipt the daily charge, around the small and medium-sized enterprises and poor groups to pledge mode innovation and actively explore, study the car suitable for small and medium enterprises certificate pledge loans, accounts receivable pledge loans, equity pledge loans. But because of the pledge of rights is difficult to implement in practice the collateral or pledge effectively, there are legal flaws, greater risk of bank for some so-called business innovation, and to small and medium-sized enterprises and poor groups can provide the bank risk controllable rights pledge less species, resulting in the pledge of rights is the slow development of microfinance in practice.

 

Mutual guarantee loan difficulty of popularizing. Mutual is a way of guaranteeing loans as part of rural small and medium-sized financial institutions to expand credit business, in order to solve the small and medium-sized enterprises and the poor group loans, bank loan difficult phenomena play a role. However, the kind of mutual aid guarantee loans by group members on the bank's debt are jointly and severally liable, therefore, group formation is based on mutual trust among group members is premise condition. In practice, in line with the conditions of composition UNPROFOR group for loans of small and medium-sized enterprises and poor little, the kind of mutual aid guarantee loan proportion is low, it is difficult.

 

Chattel security role is not sufficient. In Chinese, financing is still the development of small and medium enterprises, individual industrial and commercial households and households shackles. From the banks perspective, factors of Chattel Security role is not fully include:

 

1) is decided by the property characteristics. Real estate has the characteristics of mobility, in the bank for the mortgage of real estate, due to the mobility of the results in the same chattel mortgage and mortgage many false.

 

2.Dynamic risk mortgage is relatively large, is not conducive to the banks to control risks. With the construction of bank risk management mechanism to strengthen gradually, to pay more attention to the financial situation of enterprises and credit investigation at the same time, also pay attention to the prevention and control of the risk of collateral. Although China property law in reference to the experience of other countries for improvement of real estate guarantee system, but one of the provisions of the chattel mortgage not to register for mortgages established requirements and limit the chattel security role play.

 

3.Bank of the chattel mortgage loans for less, the lack of experience. Chattel mortgage loans to the Bank of the requirements are relatively high, in addition to real value was quite familiar with the bank industry and can determine where the collateral collateral, also require banks to have different dynamic production capacity to take measures to defuse the risk of. At present, the banks in this respect lack of experience. As the key inventory pledge lies in good storage mechanism and regulatory measures, the bank can only be entrusted to an intermediary institutions to manage, this will increase the bank's cost, and intermediary institutions because the current integrity is not high, the bank is not willing to accept the assessment results. In general, as the bank's perspective, the chattel mortgage is very difficult to operate, high risk, banks are reluctant to accept the chattel mortgage. In addition, the law did not establish the system of chattel mortgage common rules, mortgage registration is not perfect is also the result of Chattel Security play an important factor not full 1.

 

Intermediary guarantee loan credit guarantee system is not perfect, guarantee risk. Indirect financing of small and medium-sized enterprises rely on fixed harm caused by production is very obvious, not only caused property prices virtual high expansion, and immovable resource depletion will further capacity of small and medium-sized enterprises obtain loans. Therefore, for small and medium-sized enterprises, will be "material" into the "credit" as the guarantee subject, it is important. Intermediary bank guarantee is the guarantee agency secured credit business, as the market economy continues to improve and mature.

 

In recent years, guarantee institutions such as bamboo shoots after a spring rain China developed as rapidly, has become an important force to promote local economic development, to find an effective way to solve the small and medium-sized enterprises and the poor financing difficult problem. Because of Chinese of security agencies of the legislation is not perfect, the supervision of the competent authorities are not in place, and the credit environment is poor, some intermediary guarantee Institutional Firms governance structure is not perfect, management confusion, poor ability to resist the risk, banks and guarantee agencies risk, resulting in too cautious in bank business cooperation and guarantee mechanism.

 

The bottleneck restricting the 2, small loan guarantee

 

The bottleneck restricting the small loan guarantee for a number of reasons, both factors of banks in the loan management system, there are many other complex factors, which guarantees and collateral means a single limited variety is the main factor that restricts the small loan guarantee bottleneck.

 

1) guarantee means a single. When there is asymmetric information between borrowers and lenders, mortgage help to solve the problem of adverse selection. In China, banks generally only accept real estate and strong liquidity of securities as collateral, which greatly limit the financing capacity of SMEs, is not conducive to the development of microfinance.

 

2) collateral breed co.. Compared with the guarantee law, property law has greatly expanded the scope of real estate collateral, clear increase in accounts receivable, the fund share as well as raw materials, semi-finished products, products (inventory). But because of China pursue legal doctrine, where the listed property is not set up a security interest, non shift range transformation of chattel mortgage right is still relatively narrow subject.

Chinese property law based on the original guarantee law and its judicial interpretation, learn from foreign experience, have greater progress than the guarantee law, the perfect real right for security system, expanded the scope of the guarantee, correct implementation rules of real rights for security, to solve the small and medium-sized enterprise and the impoverished loan is difficult, to further promote the development Chinese microfinance play an important role, but we are sorry to see the current rules guarantee system Chinese still exist some defects, and further improve the.

 

(a) defect mortgage registration of

 

Mortgage registration, is "an act of establishing rights real right law" provisions, in the bank for the mortgage mortgage people according to the mortgagee will require the property mortgage legal acts of states matters for registration on the register. Property setting and change items shall be registered, the mortgage for the property, the bank mortgages, should be registered, this is the principle of public summons requirements. Mortgage registration is one of the mortgages made in the way, is of great significance to the creditor, is a strong guarantee for the banks to prevent risks, the realization of creditor's right. At present, Chinese mortgage registration situation is not satisfactory, already formed the very big restriction to the small and medium-sized enterprise financing development and poverty groups, is not conducive to promoting the sustainable development of small loans, mortgage registration defects in practice are mainly manifested in the following aspects.

 

1, registration is not unified

 

Property law Chinese established principles of legislation to establish a unified registration system of immovable property, the property law article tenth: "the real property registration is not real estate registration body to the location of the. State property a unified registration system. Institution and registration registration scope, registration, shall be stipulated by laws, administrative rules and regulations." But how to establish a unified real property authority is not clear. China current registration system is a long registration, respectively, registration system, registration of immovables in many administrative organs, i.e. multi administrative organs responsible for different real estate management, which has formed a long registration phenomenon.

 

No legal registration agencies unified and their responsibilities, banks in the mortgage registration process, the registration authority each department acting on its own act of one's own free will, chaos, chaos, not as as, repeat, contradiction, uncoordinated, and even error phenomenon inevitably in the various registration. This phenomenon leads to multiple registration, mortgage registration department overlap, query difficulty, the repeated mortgage increase, there exist the following problems:

 

Registration scattered, not conducive to the relevant parties access to registration, it is difficult to give the parties to provide comprehensive information. According to the current China this "bull management, classification registration approach", the parties often do not know should to handle queries which department, even if the parties know the registration departments, often don't know should to the sector in which one level authorities to query. This greatly increases the unnecessary cost, inconvenience to the query.

 

Is not conducive to the parties for registration. If the registration is unified, registration rules are uniform, so that the applicant is relatively easy to determine the registration authority, is also relatively easy to be familiar with the rules of registration, the registration of the party is very favorable. Chinese current registration scattered in different departments, and different departments respectively formulate different rules of registration, registration procedure and effect of registration of real property registration, the applicant, not only wasting a lot of registration fees by the parties, the parties do not increase the reasonable burden, and often make the not know what course to take in the face of different registration authority, registration rules of different parties, to bring some difficulties.

 

Increase the cost of registration. In view of the different property registration, registration institution of different countries, different registration staff to register property repeated survey, measurement, resulting in a large number of human, financial waste, at the same time, also increased for the parties separately to different registration agencies pay registration fees, increase the cost of registration.

 

2, registration efficiency

 

The chattel mortgage registration system is not perfect current, resulting in low efficiency of mortgage registration:

 

1 registration forms and documents can not download for the electronic version;

2 in the registration application can not be completed online;

3 cannot register queries via the internet;

4 all the records are not the electronic version of the file storage;

5 the registration requirements and procedures are not the same.

 

In addition, the warranty registration department and other security registration department is not shared database and registration information. Between the local area each security registration departments have not shared database and registration information. Because the registration system is not perfect, complicated registration procedures, mortgage registration takes more time, registration efficiency.

 

3, registration is not reasonable

 

At present, in the bank for the chattel mortgage registration practice guiding rules based on the promulgation of the State Administration for Industry and Commerce of the "entrepreneurial chattel mortgage registration management measures". From the provisions of this approach can be seen in the mortgage registration, the need for a detailed description of the collateral, such as real estate collateral ownership or use right certificate; the chattel mortgage the storage of data; collateral name, quantity, quality, condition, brand, specifications, number, date, use fixed number of year, value, storage, ownership or use rights etc.. Registration of so many result in operation in some real estate can not handle the mortgage registration, in part because the registration authority in the registration, must give details of collateral registration as necessary, otherwise, even if used as a chattel mortgage, not to handle registration.

 

(two) defects of floating mortgage provisions

 

1, the establishment of subject of floating charge is limited

 

China "property law" 181st, 189, 196 specifies the floating mortgage. As a special kind of mortgage, floating charge is relative to the fixed mortgage, fixed mortgage can be the debtor, and can also be third, floating mortgage mortgage people can only be the debtor. As can be seen from the property law, the mortgagor China limited to enterprises, individual industrial and commercial households, agricultural production operator.

 

Enterprises including legal person enterprises and non legal person enterprises. In addition, state organs, social organizations, institutions, non engaged in the production and operation of natural persons can not set up floating mortgage. Subject of floating charge is limited, can alleviate the small and medium-sized enterprises and poor loan difficult problems to a certain extent, but limits the other besides financing main body are so flexible financing, floating mortgage mechanism flexibility not full. Do not create enough space for the microfinance sustainable development of convenient, fast, flexible.

 

2, the floating mortgage subject matter scope narrow

 

China property law has strict restrictions on can handle the floating mortgage of the subject matter, namely limited floating mortgage, not allowed to all property mortgage on the floating mortgage, but also limits on floating mortgage subject matter scope. Physical limitations of property law China will not only floating collateral for the estate, but only to production equipment, raw materials, semi-finished products, products of these special chattel, limited movable floating charge.

 

In fact, the double limit of floating mortgage China for limited subject, finite object floating mortgage system. To a certain extent, the more narrow the scope of the floating mortgage property, difficult to reach the floating mortgage system design of desire, which is a defect in the legislation of the left.

 

In practice, to allow banks and small and medium-sized enterprises and poor groups in the areas of cooperation according to the principle of autonomy will be mortgaged property settings of floating mortgage, expand the scope of the floating mortgage, not only did not increase the risk of banks, but also promote banks to SMEs and poverty groups bound of enthusiastic service, realize a win-win situation.

 

3, the mortgagee inadequate protection

 

Floating charge to alleviate SME loan difficult and poor groups, open the financing bottleneck play a positive role, but all things are the pros and cons of hand in hand. Business operators of chattel mortgage, in realizing the right to mortgage, mortgage of property of import restrictions, is favorable to the mortgage, but the mortgage people, easy to cause the loss of the mortgaged property, the mortgagee discretionary mortgage property caused by the rapid reduction of mortgage assets, mortgage people sometimes right to mortgage property completely repaid.

 

In the floating mortgage period, the mortgagor to dispose of the mortgaged property does not require the consent of the mortgagee, mortgagor without recourse right to mortgage property. Property law so provides, floating mortgage to the mortgagee ineffective, in banking practice, the system was adopted in the part of the banks will not, some individual industrial and commercial households and households financing without reliable collateral for small and medium enterprises, problems in a certain period of time has not been fundamentally resolved.

 

(three) the defects of pledge of rights provisions

 

1, the right of pledge of guaranty

 

China law and strict rules on species can pledge rights, Chinese can pledge rights types are: "drafts, checks, promissory notes, bonds, certificates of deposit, warehouse receipts, bills of lading; can transfer the fund share, equity; can transfer the exclusive trademark rights, patent rights, copyrights and other intellectual property rights the property right; accounts receivable; the provisions of the laws, administrative regulations and other property rights that can be pledged." Although a breakthrough collateral pledge property law Chinese in right, increase the transfer of the fund share and accounts receivable two important kinds of property rights, but the rights pledge collateral scope is relatively conservative, in the bank for the microfinance business, many new pledge is universally applicable is not recognized, such as the Auto Certificate pawns, charging rights pledge. Although the local laws, regulations and the State Council normative documents have provisions on new pledge, but these legislative levels did not reach the real right law laws, administrative regulations can pledge rights, and in legal effect to be guaranteed [9].

 

2, the scope of accounts receivable is not clear

 

What is the real right law for accounts receivable is not defined, in the scope of accounts receivable, is only selling goods and services in the process of accounts payable, or including highway bridges, highway tunnels and highway ferries and other immovable property rights is not clear. Although the people's Bank of the "scope of accounts receivable pledge registration" account receivable for the expansive interpretation, but the explanation is not a formal legal interpretation, and the measures for the registration of pledge legal level is lower, the bank should be greater uncertainty facing the accounts receivable pledge of the guarantee way in the.

Chinese small loan guarantee system status and the"1025" planning blueprint, and mobilize the small and medium-sized enterprises and individual citizens to participate in economic construction actively, and more and more urgent requirements to ease the financing difficulties of SMEs is not suitable, the way out lies in the reform, lies in innovation, construct the system of the small loan guarantee system has Chinese characteristics.

 

 

(a) improve the micro credit guarantee system legislation

 

The perfect 1, mortgage registration

 

First, the establishment of a unified registration authority. In the future, immovable and movable property registration system, unified registration authority is an unavoidable reality. In China, how to determine the immovable registration authority property? In China "property law" to discuss the development process, general view of scholars is, should clearly stipulate unified department as the registration institution in the future real right legislation. But the one sector as the registration institution is more appropriate, did not form a unified understanding.

 

At present, scholars paid more attention to the immovable property registration authority issues, does not recommend the registration authority shall have justice and unity, and some suggestions for the real property registration by the judicial organ, and some suggestions of the immovable property registration by the administrative organs, and some suggested by the notary organ for registration, and some suggestions to set up a special the organ for registration.

 

The reason is: the first, and the rich experience of chattel mortgage registration; second, in line with the cognitive degree and trading habits of all circles of the society under the current system; third, industrial and commercial system has registration management system is advanced, and the relevant registration software. At present, industrial and commercial system information system of chattel mortgage registration system, enterprise electronic management system, has been put into use. The business system is a large capital investment informatization construction and IT application, such as has been completed and put into use "red shield information network", "industrial and commercial administrative management network". The use of these new technologies and advanced system for real property and chattel mortgage registration may be brought.

 

Secondly, the unified registration scope. That is what the immovable and movable property rights to the registration authority for registration, what is the effectiveness of the registration, should be provided for by the laws and regulations unified. The immovable and movable property registration scope should be from the following three aspects: first, be clear should be registered. Still should register registration of the immovable property, including land, houses and other buildings. Which includes several class scope should also be clear. Second, should the right to register. Shall register the right type of ownership and other rights, specific type of rights shall be determined by the property law. Third, the legal relationship should be registered. Legal relationship should be registered as immovable and movable property acquisition, transfer, change and termination.

 

Once again, the unified registration procedures. The unified registration procedure is China accelerating the transformation of economic structure, accelerate development, promote the banking financial institutions to better serve the small and medium enterprises, individual industrial and commercial households, households and other non-public sectors of the economy, the urgent requirement of enterprises, but also to adapt to the development of market economy, high flow unified national market formation in the country, reduce until the elimination of local protectionism, promote the sustained, healthy development China economy, give full play to the role of the finance is the core of market economy, we should form the uniform legislation through the registration procedures, in the formation of a unified registration rules, procedures, in principle does not allow the area have set their registration procedures, but may formulate detailed implementation rules according to the the national unified registration procedures for the local registration.

 

Fourth, the unified registration. In the legislation to encourage innovation, to enhance the understanding of the importance of unified registration. To solve the problem as soon as possible a unified registration, uniform immovable property and real estate registration of legal basis, the unification of China immovable and movable property legal system of real right law. Before the property law of real property, real property registration system is not only messy in various laws, but also a lot of content is still in accordance with the requirement of planned economy, meet the needs of administration development, cannot satisfy the real estate, moving production to enter the market transactions, also can't satisfy the need of protection of property right transaction the. To some extent, restricted the development of microfinance, mutual benefit and win-win effect between borrowers.

 

2, the floating mortgage perfect

 

The establishment of subject of floating charge should be chosen by the parties. Under the condition of market economy, should play a free trade party within the law, fully respect the trader will, in the practice of bank, for which the subject can set the floating mortgage, he shall choose, not by law to make special restrictions. This can not only promote the development of small loans, to help small and medium enterprises and poor groups solve difficult problem loans, is also in line with the principle of autonomy embodied the provisions of security interest in property law.

 

Expand the scope of the subject matter of floating mortgage. For the convenience of small and medium-sized enterprises (micro enterprise financing) and poverty, promoting microfinance sustainable development, propose to expand the scope of the floating mortgage, mortgage may be all property of enterprises, can also be a kind of property. Not only is immovable property, can also be right, intangible property, including rights assets (such as accounts receivable, land use rights, intellectual property rights) and commercial reputation, otherwise, would have a flexible mechanism of floating mortgage system, because if the litigants do not choose empty enough, and its powerful financing function of asphyxia.

 

In order to enhance the financing ability, enterprises can claim preservation ability of the immovable property to set fixed mortgage, limit the provisions for asset disposition, does not affect the production and operation, set the floating mortgage in other property, make its financing ability greatly enhanced; for the banks, banks get better security, both the preservation of creditor's rights strong function in fixed assets fixed mortgage security, and other property in a broader set of floating mortgage as a debt security, better play the financing function and protection function of floating mortgage.

 

To strengthen the protection of the right of floating charge person in the judicial interpretation of guarantee law or law. In the full play of floating charge and the role of SMEs' financing and poor groups under the premise, to carry out the actual situation of floating mortgage Chinese were summarized, and combined with the actual China, refer to other countries and regions of the floating mortgage legislation content. Recommendations in the future revision of security law and security law promulgated judicial interpretation, should provide for the loss, damage due to deliberate, transfer of real rights for security or collateral rights or other malicious disposition of collateral acts, causing great loss of creditor behavior criminal responsibility of the person, to (help) dealing with the law guarantee the creditor rights through administrative, the Justice Department to pursue the administrative responsibility or liability, in order to strengthen the protection of creditors, to better enhance the bank to the small and medium-sized enterprise service ability.

 

3, the right of pledge loans to improve

 

(1) to expand the scope of pledge of rights guarantee. Including the types of property law Chinese pledge of Rights: "other pledge of bill pledge, pledge, pledge bonds deposit, warehouse receipts, bills of Lading Pledge, pledge, pledge, pledge of fund shares, the intellectual property rights pledge of accounts receivables and legal regulations." Compared with the "security law", "property law" China on the object of a pledge to expand the main increase "fund" and "accounts receivable" two important kinds of property rights provisions, general provisions on guaranty of pledge of rights as legal, administrative regulations and other property rights that can be pledged to the matter, namely except the property law has clearly stipulated can pledge rights, other rights stipulated explicitly matter must have laws or administrative regulations. That is to say the other rights according to law, pledge must be the National People's Congress and its Standing Committee to enact laws and administrative regulations formulated by the State Council shall, in addition to the local laws, regulations, judicial interpretation and other legal documents such as the pledge of rights should be invalid. But in practice, in addition to the above a lot of atypical pledge is widely used in bank credit business, mainly in the following categories:

 

The pledge of real property usufruct. From the existing legal provisions Chinese, of pledge of real property usufruct subject matter scope mainly includes: highway toll right, the rural power grid and the right to return to the student apartment charging rights etc.. As a pledge of real property usufruct subject income right, in fact is a kind of investment income rights, embodied in the charging rights, that is property right to charge. For the social public welfare project, highway engineering, the rural power grid construction and transformation of student apartments, investment amount is larger, in Chinese current investment system, rely solely on private enterprises and private investment is not realistic, requires active participation of government, even the government can be regarded as the investment subject. As the public investment income is mainly reflected in the right to charge, the charging rights in essence is a kind of civil property rights, with the assignment, to pledge.

 

The policy pledge. The insured in accordance with the contract, pay insurance premium to the insurer, the insured or the expiration of the period of insurance survival to death in accordance with the contract, the insurer to the insured or the beneficiary pay insurance gold. Therefore, if the debtor and the creditors agreed to the life insurance policy pledge, is essentially the two sides agreed to a life insurance policy as indicated by the insured or the beneficiary in the future on the insurer's creditor's rights pledge. Because of such claims have some funding for security, the creditor's rights in the future with the realization of the creditor, can meet the security need, therefore, the life insurance policy can be pledged, the life insurance policy pledge, can increase the borrower's credit, because of the life insurance policy insurance is stable and reliable, the bank is willing to accept the guarantee. In the life insurance policy pledge, insurance and banking business needs, to guarantee security of creditor's rights.

 

The taxi management rights pledge. Taxi management right is the bank (the pledgee) on the pledgor provides the pledged property rights are rights, it is property right rather than personal rights, possess transferability, in the practice of bank, the taxi management rights can be used for pledge loans. Some places (such as Shenzhen) in the form of laws explicitly taxi management rights pledge. The general office of the State Council on the issues related to the practice of taxi operation right pledge, require cleaning, specification, but did not directly deny or stop. It can be inferred, the general office of the State Council is approved for the practice of "taxi management rights pledge". But for the pledge of rights is how to regulate, but no further.

 

The rural cooperative financial institutions (rural credit cooperatives, rural cooperative banks, rural commercial bank) equity pledge. The equity pledge is that the quality of people with its own equity pledge. Chinese "guarantee law" and "property law" provisions for loans to equity as a limited liability company and Limited by Share Ltd in accordance with the law the transfer of equity. In practice, the rural cooperative financial institutions except the bank equity pledge not to accept, you can accept other banks including other rural cooperative financial institutions shareholding pledge.

 

(2) the receivable range. In the future legislation should be the scope of accounts receivable pledge was clearly, clearly in the accounts receivable range should grasp the following points: one is the pledge of accounts receivable can be in accordance with the law, must first be assignment of property rights, as the object of pledge of accounts receivable is the proceeds from the transfer, and personality right, status right does not have the market exchange value, does not meet the guarantee real right of priority to. That is to say for the establishment of the pledge of accounts receivable must be in accordance with the law and the parties agreed to allow the transfer of the right to. The two accounts receivable must have specific, "namely the pledge accounts receivable should be related content, including the amount, term, payment methods, the name and address of the debtor, the contract should base the receivable account must be clear and specific. Three is the timeliness. Pledge of accounts receivable must not exceed the limitation of action. Four is the stability of earnings. For the pledge of accounts receivable must have the stability of earnings, the power of management fee determined, stable park tickets income, income, area student apartment charging rights should be included in the accounts receivable can be pledged range.

 

In summary, mortgage registration, mortgage and pledge of rights, there are still some deficiencies, we suggest: first, modify the "security law", improve China micro credit guarantee system. Second, the State Council promulgated the small loan guarantee act. Thirdly, by the Supreme People's Court promulgated the small loan guarantee system of judicial interpretation.

 

(two) to explore the construction of micro credit guarantee system

 

1, to encourage the development of various kinds of guarantee organizations

 

At present, Chinese credit guarantee model mainly have the following several kinds of forms:

 

1) the government injected capital, government affiliated company operation policy of credit guarantee institutions, namely state-owned guarantee institutions.

 

2) government investment or equity, or risk compensation to the Guarantee Corporation, credit guarantee mechanism of market operation. Characteristics of such guarantee mechanism is: the government only to stipulate guarantor, the Guarantee Corporation to market demands of risk control, through a variety of ways to guard against and defuse the risks, decide the guarantee object selection, counter guarantee, the guarantee rate, cooperative banks and ways of cooperation, realize oneself profit target.

 

3) for the purpose of profit of commercial guarantee institutions, such as private Guarantee corporation.

 

1. Farmers and rural SMEs credit guarantee institutions to share - cooperation added.

 

In China under the current system, rural financial institutions to the village collective economy organization of farmers loan guarantee as the focus, other security to supplement, to form the unique farmers loan guarantee system. In the effective collateral can not satisfy the current SMEs (small) enterprises, individual industrial and commercial households, the diversification of financing needs of farmers under the present conditions, development constantly sum up experience of current security organization, vigorously encourage the development of various kinds of guarantee organizations, establish, perfect government support, multi participation, market operation, standardize the management of the rural credit guarantee mechanism.

 

2, improve supporting measures small loan guarantee

 

Establish and improve the micro loan guarantee management measures and supporting policies, strengthen the standard management. Government departments should further strengthen the construction of the small loan guarantee system, break through the institutional barriers, and actively create loose financing environment, the effective cohesion on the fiscal policy and the small loan guarantee policy, in the design of programmes and policies fully reflect the "giving more, taking less, Huimin enriching principle of freedom", and guide more credit funds into the small and medium-sized enterprises and poor groups, to focus on more capital investment and policy support on [22]. At the same time, because of the high risk guarantee mechanism, the profit should not levy high tax rates, otherwise it will undermine its ability to resist risks. For the small loan guarantee mechanism, the finance department to implement preferential taxation, specific subsidies, increment incentives and other policies.

 

3, and actively explore a variety of ways of guarantee

 

Continue to promote the peasant joint guarantee, rural cooperatives member security, agricultural leading enterprises to provide joint liability for professional farmers cooperatives, the cooperative guarantee, employees of government administrative institutions to ensure security and other forms of farmers, rural farming, aquaculture, processing industry, transportation industry, service industry and the vast majority of farmers, the rural collective economic organizations farmer specialized cooperative economic organization, so as to provide diversity characteristic financing service [23]. According to the China Banking Regulatory Commission, the people's Bank of China Chinese relevant requirements, and actively explore the development of loan business of rural land contractual management right mortgage, can take the first pilot, distinction, the steady implementation of the principle of good loans, the mortgage of the right to contracted management of rural land. In the agricultural industrialization and urbanization in areas of high degree, banks should push for the local Party committee and government of the organization of rural land contracting right of management circulation and farm provides support and cooperate with the land reform, in accordance with the relevant laws and regulations of the state, without prejudice to farmers the right to land contractual management, establish and improve the operation mode of land management the right to mortgage, explore and carry out the corresponding mortgage pilot, "three rural" rich variety of financial demand. Banks especially the rural cooperative financial institutions in the current national "the law allows, property rights clear ownership, risk management and control" under the premise, suit one's measures to local conditions, flexible to expand the range of collateral, the rural area is rich in real estate, forestry, agricultural equipment, crops, wasteland, property resources into assets.

 

4, increase the government on the construction of rural credit guarantee system

 

The government should take effective measures, further intensify the rural credit guarantee system construction. Encouraging all kinds of policy guarantee mechanism, actively expand with microfinance and rural finance demand guarantee business. In some of the conditions of the area, for the establishment of rural credit guarantee fund, funded by the government as the leading, encouraging farmers and rural enterprises of all types of participation, establish professional loan Guarantee Corporation, take market operation mode, mainly to serve the farmers and rural small, micro enterprise. The development of micro loan guarantee business of commercial Guarantee Corporation to provide "Easy Access", to create a good credit environment, enhance the ability of Guarantee Corporation guarantee.