“Acceptance bills, as a type of bill business, are within the business scope of commercial banks stipulated in the 1995 “Commercial Bank Law”. At that time, they were mainly for Temporary measures taken to increase corporate capital liquidity and solve corporate capital turnover difficulties…the current actual application results are not satisfactory.” Zhou Shanhong, deputy to the National People’s Congress and chairman of Jiangsu Wanshun Mechanical and Electrical Group Co., Ltd., accepted Suggestions during the interview: Cancel acceptance bills to promote high-quality development of small and medium-sized enterprises.
National People’s Congress Representative Zhou Shanhong
Zhou Shanhong said that in the process of performing his duties as a deputy to the National People’s Congress, he found that the cost of using acceptance bills in reality is high, including time cost and financial cost. “Acceptance bills generally expire at least half a year. Too long an acceptance period leads to a lag in the company’s capital turnover cycle; many bills cannot be accepted immediately after they expire, resulting in time costs and communication costs; if the acceptance bill is discounted in advance, it will also need to Paying interest…” He believes that the most direct problem facing small and medium-sized enterprises at the moment is that large companies almost always accept payment for goods, while small and medium-sized enterprises need cash to purchase materials, pay wages, pay taxes, pay interest, etc., so they will Expenses such as interest discounts on acceptance bills are incurred, which undoubtedly directly deprives the company of profits.
Zhou Shanhong told reporters that in today’s market transactions, if upstream companies hold both cash and money orders, they will definitely choose to use money orders for payment. For state-owned banks and state-owned enterprises with strong capital, the possibility of accepting bills of exchange on time is relatively high. However, the acceptance bills of some small banks and small enterprises often have to be delayed after maturity. Nowadays, the market changes greatly, and the financial status of enterprises is affected by many factors. When the holder has difficulty in discounting in the short term, it may cause a cutoff of funds. After the acceptor understands these conditions, it is very likely that the acceptor will not accept the payment when it expires. This greatly increases the risk of bringing down small and medium-sized enterprises.
“The acceptance bill discount business cannot solve the urgent cash needs.” Zhou Shanhong believes that due to the impact of the epidemic in 2020, many companies are facing a survival crisis. In fact, many small and medium-sized enterprises The crisis is not caused by the epidemic, but by the difficulties caused by long-term and serious defaults on payment by large companies. From a circulation perspective, although acceptance bills can be discounted, because the procedures take time, and because the process is cumbersome and inefficient, cash cannot be received in the short term, so it cannot solve the company’s urgent need for funds.
“Bank financial institutions have become the biggest beneficiaries.” Zhou Shanhong said that because banks require companies that issue bank acceptance bills to have the same amount of deposits in the bank, this It does not bring any benefits to the capital turnover of enterprises, and financial enterprises can issue bank acceptance bills without the support of deposits. Obviously, bank acceptance bills have become a disguised tool for banks to “request” profits from enterprises.
In view of the various disadvantages of acceptance bills, Zhou Shanhong suggested that the use and circulation of acceptance bills should be phased out in “three steps”. The first step is to strictly implement the “Regulations on Guaranteeing the Payment of Small and Medium-sized Enterprises” to create a fair competitive market environment and fundamentally alleviate the financial stress of small and medium-sized enterprises; second step, state-owned banks and large enterprises take the lead in reducing the issuance of acceptance bills and reducing The discount rate will create a good space for the survival and development of small and medium-sized enterprises; the third step is to stop the issuance of bank acceptance bills and commercial acceptance bills, and no new acceptance bills will be issued after the acceptance bills that have been issued have been held and expired.
The problem of expensive financing for small, medium and micro enterprises has always been a concern. This year’s two sessions, Zheng Jun, member of the National Committee of the Chinese People’s Political Consultative Conference, member of the Central Committee of the Kuomintang Revolutionary Committee, and president of Hubei Second Normal University, put forward relevant proposals from the perspective of regulating the scope of use of acceptance bills.
Zheng Jun, member of the National Committee of the Chinese People’s Political Consultative Conference
According to Zheng Jun, at present, many state-owned enterprises and listed companies rely on their “market position” advantages to use bank acceptance bills when doing business with small, medium and micro enterprises. and commercial acceptance bill settlement. Small, medium and micro enterprises have to accept this because they are at a disadvantage in the market, which also brings pressure on capital turnover. Small, medium and micro enterprises receive acceptance bills during the sales process, but they can only pay monetary funds when purchasing raw materials, purchasing equipment, paying employee wages and paying social security, and government departments do not accept acceptance bills when paying various taxes and fees to the government. . Due to the need for capital turnover, small, medium and micro enterprises can only pay about 5% of the financial cost for bill discounting. Some small, medium and micro enterprises even seek high-interest loans from small loan companies to pay for the above expenses, which increases the burden on small, medium and micro enterprises. .
Zheng Jun further explained using a central enterprise as an example that the time for small, medium and micro enterprises from supply to settlement after completing various procedures is generally about one year. And what you get after settlement is��The one-year acceptance bill issued by this central enterprise finance company is not recognized by upstream companies. This kind of bank acceptance bill is not recognized by upstream companies. If you need to use funds, you can only use discounts. Generally, according to the “agreement” of this central enterprise, you can only find a financial company with an acceptance bill for discounts. As a result, it takes about 2 years for an enterprise to supply goods to this central enterprise and finally obtain monetary funds. The financial cost is more than 10%, which seriously erodes the reasonable profits of small, medium and micro enterprises, and at least makes the enterprise’s capital turnover poor. In severe cases, it may even endanger the survival of small, medium and micro enterprises. As a market entity that absorbs a wide range of social employment, once it is difficult to survive, it will bring about social problems such as employment or unemployment.
In this regard, Zheng Jun suggested that relevant departments should innovate policies based on actual conditions, standardize the scope of use of acceptance bills, and strictly implement the “Regulations on Guaranteeing Payments to Small and Medium-sized Enterprises” Relevant regulations will further improve the financing environment for small, medium and micro enterprises. For legal and authentic acceptance bills received by small, medium and micro enterprises, and meeting certain conditions, the tax department should recognize them when collecting various taxes and fees to alleviate the pressure on small, medium and micro enterprises.
For acceptance bills, the state is also issuing regulations.
According to the requirements of the “Regulations on Guaranteeing Payments to Small and Medium-sized Enterprises” issued by the State Council, starting from September 1, 2020, government agencies, institutions and large enterprises shall not Small and medium-sized enterprises are forced to accept non-cash payment methods such as commercial bills, and are not allowed to use non-cash payment methods such as commercial bills to extend payment deadlines in disguise.
We have paid attention to and reported on the chaos of acceptance bills many times. The voice of canceling acceptance bills has been repeatedly raised at the previous two sessions, but to this day, Acceptance bills are still a headache in the commercial activities of small and medium-sized enterprises. We will continue to pay attention to this.
</p
