【摘要】：中小企業(yè)在我國國民經(jīng)濟(jì)和供應(yīng)鏈活動中有著重要地位和舉足輕重的作用。目前,我國中小企業(yè)數(shù)量已達(dá)到4200多萬,占全國企業(yè)數(shù)量的99%,創(chuàng)造了80%左右的城鎮(zhèn)就業(yè)崗位,中小企業(yè)對GDP的貢獻(xiàn)超過60%、對稅收的貢獻(xiàn)超過50%。然而,中小企業(yè)卻很難直接從資本市場上融資,銀行抵押融資同樣困難,融資難已成為制約中小企業(yè)發(fā)展的重要難題。究其根源,制約銀行向中小企業(yè)提供貸款的根本瓶頸就在于“不動產(chǎn)抵押難”,如果有了足額的抵押,既可以降低信息成本,又可以有足夠的風(fēng)險保障。事實上,中小企業(yè)在運行過程中擁有相當(dāng)規(guī)模的動產(chǎn),如：原材料、產(chǎn)成品等,這些動產(chǎn)大多滯留在存儲環(huán)節(jié),特別是一些生產(chǎn)或銷售具有較大季節(jié)性的企業(yè)尤其如此。如果能找到一種有效的機(jī)制,將不受銀行歡迎的動產(chǎn)轉(zhuǎn)化為銀行愿意接受的動產(chǎn)質(zhì)押物,并據(jù)此提供中小企業(yè)貸款,這無異于給中小企業(yè)開辟了一條新的融資渠道。近年來,商業(yè)銀行通過對貸款產(chǎn)品的創(chuàng)新,針對中小企業(yè)、不同行業(yè)生產(chǎn)經(jīng)營的特點,推出第三方金融倉儲公司與銀行動產(chǎn)質(zhì)押業(yè)務(wù)相結(jié)合的金融倉儲業(yè)務(wù),正是解決這一瓶頸問題的重要突破。 那么,何為金融倉儲呢?金融倉儲是指專業(yè)服務(wù)于金融業(yè),為金融機(jī)構(gòu)動產(chǎn)抵押或質(zhì)押貸款提供第三方管理的專業(yè)倉儲服務(wù),是金融與倉儲交叉創(chuàng)新的服務(wù)產(chǎn)品。簡而言之,就是銀行抵質(zhì)押品的倉儲保管監(jiān)管業(yè)務(wù)。金融倉儲主要包括動產(chǎn)質(zhì)押監(jiān)管和辦理與金融倉單相關(guān)的業(yè)務(wù)。金融倉儲主要是針對中小企業(yè)缺乏固定可抵押資產(chǎn)的狀況而設(shè)計的銀行貸款業(yè)務(wù)服務(wù),它對企業(yè)的發(fā)展有明顯的促進(jìn)作用,對金融機(jī)構(gòu)的貸款業(yè)務(wù)有優(yōu)化和拓展的優(yōu)勢,通過引入第三方監(jiān)管公司,也解決了銀行與貸款企業(yè)之間信息不對稱的問題。 金融倉儲服務(wù)在美國的金融服務(wù)中早已發(fā)展成熟,一些發(fā)達(dá)國家的銀行很早就與倉儲企業(yè)開展多種形式的合作。如存貨質(zhì)押融資、標(biāo)準(zhǔn)倉單質(zhì)押融資。我國的金融倉儲業(yè)務(wù)起始于20世紀(jì)90年代,與國外相比,國內(nèi)現(xiàn)階段開展的金融倉儲業(yè)務(wù)流程還不夠規(guī)范,覆蓋范圍較窄,沒有建立起和銀行、中小企業(yè)、第三方倉儲企業(yè)之間的戰(zhàn)略聯(lián)盟。而物流業(yè)的飛速發(fā)展以及近年來商業(yè)存銷比的逐步攀升對相應(yīng)的金融倉儲服務(wù)提出了總量巨大的需求。統(tǒng)計數(shù)據(jù)顯示,目前我國中小企業(yè)在全國范圍內(nèi)的動產(chǎn)存貨資產(chǎn)量達(dá)到50萬億元至70萬億元人民幣,如果其中10%適用于放貸,則市場容量將達(dá)到5萬億元至7萬億元人民幣。而目前全國抵質(zhì)押物貸款比重不高,同期基于物流的融資總額不超過3000億元,動產(chǎn)抵質(zhì)押貸款市場遠(yuǎn)未達(dá)到飽和。未來我國金融倉儲業(yè)務(wù)存在廣闊的市場空間。 我國目前已開展的金融倉儲業(yè)務(wù)主要包括動產(chǎn)質(zhì)押融資倉儲監(jiān)管和標(biāo)準(zhǔn)倉單質(zhì)押融資業(yè)務(wù)模式。本文對兩種模式的運作流程和特點作了簡要說明,并選取了重慶銀行和鑫聯(lián)金融倉儲公司關(guān)于四川本草堂藥業(yè)有限公司的動產(chǎn)質(zhì)押合作項目,對基本情況及具體操作方案加以介紹,對理論部分加以論證和補(bǔ)充。通過對現(xiàn)有模式的分析和案例的啟示,提出在現(xiàn)有的金融倉儲業(yè)務(wù)模式下,存在八個突出問題：一是銀行在選擇質(zhì)押物時主要憑經(jīng)驗,缺乏客觀標(biāo)準(zhǔn)；二是缺乏權(quán)威、公允的第三方價值認(rèn)定機(jī)構(gòu)或參照系統(tǒng)；三是缺乏科學(xué)的質(zhì)押率測算模型；四是缺乏質(zhì)押物價值變動或損毀的補(bǔ)償機(jī)制；五是質(zhì)押物變現(xiàn)渠道不暢；六是金融倉儲公司信用風(fēng)險、管理水平、人才儲備有待提高；七是缺乏金融倉儲業(yè)的權(quán)威監(jiān)管機(jī)構(gòu)、行業(yè)標(biāo)準(zhǔn)；八是對金融倉儲業(yè)務(wù)沒有統(tǒng)一、規(guī)范、可對抗第三人的公示方式。 針對我國金融倉儲行業(yè)的現(xiàn)狀和相關(guān)金融市場的環(huán)境,結(jié)合推進(jìn)金融倉儲行業(yè)發(fā)展的創(chuàng)新需求,本文探討了加快建設(shè)金融倉儲行業(yè)的實施路徑,研究提出了政策措施建議：一是試行金融倉儲公司“一體化”服務(wù)模式；二是引入第三方權(quán)威檢測、認(rèn)定、評估機(jī)構(gòu)；三是完善質(zhì)押物價值變動或損失補(bǔ)償機(jī)制；四是健全法律法規(guī)、統(tǒng)一監(jiān)管模式、制定行業(yè)標(biāo)準(zhǔn)。 本文的創(chuàng)新之處在于在對金融倉儲業(yè)務(wù)的探討中,主要采用理論研究與案例分析相結(jié)合的方法,在理論闡述的基礎(chǔ)上,借助重慶銀行和四川鑫聯(lián)金融倉儲公司的真實案例對理論部分加以印證和補(bǔ)充。此外,本文選取了從破解中小企業(yè)融資瓶頸的獨特視角來分析金融倉儲業(yè)務(wù)在目前經(jīng)濟(jì)環(huán)境中所起的積極作用以及亟待解決的問題,最后提出“一體化”的創(chuàng)新改進(jìn)模式。相信隨著金融倉儲實踐經(jīng)驗的不斷積累和理論研究成果的不斷豐富,金融倉儲服務(wù)將在國內(nèi)具有更堅實的理論基礎(chǔ)、擁有更廣闊的市場前景。
[Abstract]:At present, the number of small and medium-sized enterprises in China has reached 42 million, accounting for 99% of the total number of enterprises in the country, creating about 80% of urban employment. The contribution of small and medium-sized enterprises to GDP is more than 60%, and their contribution to taxation is more than 50%. However, it is very difficult for banks to finance directly from the capital market. It is equally difficult for banks to mortgage financing, which has become an important problem to restrict the development of SMEs. In fact, small and medium-sized enterprises have a considerable amount of chattels in the course of operation, such as raw materials, finished products, etc. Most of these chattels are stuck in the storage link, especially for some enterprises which produce or sell more seasonal products. In recent years, commercial banks have introduced third-party financial warehousing companies and bank chattels through the innovation of loan products, aiming at the characteristics of production and operation of small and medium-sized enterprises and different industries. The financial warehousing business combined with pledge business is an important breakthrough to solve this bottleneck problem.
So, what is financial warehousing? Financial warehousing refers to professional services in the financial sector, providing third-party management for the financial institutions chattel mortgage or pledged loans professional warehousing services, is a financial and warehousing cross-innovative service products. In short, banks to pledge the warehousing of collateral supervision business. Financial warehousing mainly includes chattel. Financial warehousing is mainly designed for the lack of fixed collaterable assets in small and medium-sized enterprises. It has an obvious role in promoting the development of enterprises and has the advantage of optimizing and expanding the lending business of financial institutions. It also solved the problem of asymmetric information between banks and loan companies.
The financial warehousing service has already developed maturely in the financial service of the United States. Some banks in developed countries have cooperated with warehousing enterprises in many forms early. For example, inventory pledge financing and standard warehouse receipt pledge financing. The rapid development of the logistics industry and the gradual increase of the commercial inventory-sales ratio in recent years have put forward a huge demand for the corresponding financial warehousing services. The inventory assets of movable property in China reach 50 trillion yuan to 70 trillion yuan. If 10% of them are suitable for lending, the market capacity will reach 5 trillion yuan to 7 trillion yuan. The field is far from being saturated. There will be broad market space for China's financial warehousing business in the future.
The current financial warehousing business in China mainly includes chattel pledge financing warehousing supervision and standard warehouse receipt pledging financing business model. This paper briefly describes the operation process and characteristics of the two models, and selects Chongqing Bank and Xinlian Financial Warehousing Company for the cooperation of chattel pledge in Sichuan Bencaotang Pharmaceutical Co., Ltd. Through the analysis of the existing models and the Enlightenment of the cases, eight outstanding problems are put forward in the existing financial warehousing business model: first, the banks mainly rely on experience in choosing the pledged goods, lack of objective standards; second, lack of objective standards; Authoritative and impartial third-party value cognizance institution or reference system; lack of scientific measurement model of pledge rate; lack of compensation mechanism for changing or destroying the value of pledge; lack of channels for realizing pledge; lack of credit risk, management level and talent reserve of financial warehousing companies; lack of financial resources The authoritative regulator of the warehousing industry, industry standards; Eighth, there is no unified and standardized financial warehousing business, which can resist the publicity of third parties.
In view of the current situation of China's financial warehousing industry and the relevant financial market environment, combined with the innovative needs of promoting the development of the financial warehousing industry, this paper discusses the implementation path of speeding up the construction of the financial warehousing industry, and puts forward policy suggestions: first, try out the "integrated" service model of the financial warehousing company; second, introduce the third. Authoritative inspection, confirmation, evaluation agencies; third, improve the value of pledged property changes or loss compensation mechanism; fourth, improve laws and regulations, unified supervision model, formulate industry standards.
The innovation of this paper is that in the discussion of financial warehousing business, it mainly adopts the method of combining theoretical research with case analysis. On the basis of theoretical elaboration, it verifies and supplements the theoretical part with the help of the real cases of Chongqing Bank and Sichuan Xinlian Financial Warehousing Company. In addition, this paper chooses to crack the financing of small and medium-sized enterprises. From the unique perspective of capital bottleneck, this paper analyzes the positive role of financial warehousing business in the current economic environment and the problems that need to be solved urgently, and finally puts forward the innovative and improved mode of "integration". A more solid theoretical foundation and a broader market prospect.
【學(xué)位授予單位】：西南財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F276.3;F832.4;F426.72

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