What are the characteristics of private capital?

Question 1: Understand the characteristics of private finance in your own words. Since the reform and opening up, China's economic development is market-oriented, and the market plays a leading role in resource allocation, gradually forming a market economic system. In this economic background, the private economy is developing rapidly, and their strong capital demand is far from being met by formal finance, because they can only turn to the private sector, and private capital plays an important role. Private finance plays an important role in China's financial market, and its characteristics are gradually becoming clear in the process of its continuous development.

First of all, private finance has diversity. The diversity of non-governmental finance can be fully reflected in the diversity of its participants and organizational forms. The participants and sources of funds of non-governmental finance are all from the private sector, and they are participants in credit activities outside the formal financial system. Among these participants, there are both urban and rural residents, individual and private entrepreneurs, small and medium-sized enterprises, township committees and administrative institutions, with diverse subjects. It is no exaggeration to say that it is the national finance. There are different forms of folk finance, and various forms of folk finance play an important role in economic activities. These organizational forms include personal loans, private fund-raising, pawn shops, cooperatives, private banks and private equity funds. The diversity of participants and organizations leads to the diversity of funding sources. The funds of private financial market mainly come from idle funds of relatives and friends around, personal income of residents, operating profits of small and medium-sized enterprises and idle funds. It can also be concluded that the scale of private financial funds is quite large.

Secondly, private finance is flexible. The flexibility of private finance is reflected in the flexibility of procedures and interest rates. Private lending procedures are flexible and simple, and are very popular with people who need funds. Under normal circumstances, when the fund demanders borrow money through formal financial institutions, the procedures are quite complicated and they must have a complete contract. The examination and approval of capital use, credit scale and mortgage qualification of collateral is very strict and time-consuming. For those in urgent need of funds, the strict conditions are too long, and it is difficult to solve the urgent need. Private lenders and borrowers are usually close neighbors, and they are familiar with their neighbors. If the fund demanders are in urgent need of funds, they can get the urgently needed funds without any complicated procedures or very simple procedures. In this process, they only need to let lenders know how much money they have borrowed, where the funds are going, what the interest on the borrowed funds is, and when the repayment date is probably. In private lending, formal contracts are rarely signed, as long as there is an agreed oral agreement or a written IOU that simply indicates the amount, repayment time and interest.

Because the procedures are simple and complicated intermediate links are not needed, both borrowers and borrowers can reach an agreement directly face to face, which greatly shortens the borrowing time and is fast and convenient. In terms of interest rate, private financial transactions are not regulated by the national financial supervision system without formal financial institutions, and there is no need to strictly implement official interest rates. The interest rate of private lending is flexibly adjusted according to the market mechanism. The economic development in different regions is unbalanced and the capital demand is different. Interest rates may be different in different regions. In some areas, the interest rate will be around 200fo, and in some areas, the interest rate can reach 60% or even 65,438+0,000 FO. Moreover, the interest rate of private lending will change flexibly according to the macro-control of the national money supply and market changes. When the financial supervision department raises the reserve ratio or interest rate for a period of time, the interest rate of private lending will also increase accordingly.

Furthermore, private finance is hidden. In China, the financial management authorities have very strict regulations on the access, operation and exit of the formal financial market, and the supervision is also quite strict. They will have a good understanding of the business forms, scale of development and scope of activities of such financial organizations and activities, while private finance is not within the scope of formal financial institutions. Many private financial activities belong to underground activities, with various forms and frequent transactions, each transaction is big or small. Trading behavior lacks the protection and recognition of relevant laws, which is very hidden. It is quite difficult to investigate statistics, and it is difficult for official statistics to accurately reflect the real situation, so it is quite hidden.

Finally, private finance has gradually become specialized. Because of its flexibility and diversity, it has played an important role in economic life, gained wide recognition, and promoted the more active flow of private finance. Private finance began to gradually move towards the sun, rather than hiding underground. The openness of private finance makes its subjects behave more rationally and professionally in the later development. The private financial market, which needs more and more funds, began to be market-oriented. Due to the imbalance between supply and demand, under the regulation of the market, private finance has higher interest rate and higher return on investment, and a huge demand group and a huge supply group, plus new participants, continue ... >>

Question 2: What are the characteristics of private lending? Private lending refers to the financing behavior between natural persons, legal persons and other organizations, rather than between financial institutions and their branches approved by the financial supervision department.

Compared with bank loans, private lending has the following advantages:

1. Simple program. Different from bank loans, private financing needs to provide a large number of materials such as business license, code certificate, accounting statements, purchase and sale contracts, identity documents of the person in charge, and capital verification reports. And you don't need to go through the formalities of signing and notarization. Generally, it is only necessary to review the property certificate and repayment ability and sign a contract.

2. You can borrow money as needed. Private lending generally takes only 3-5 days or even less to obtain the required funds.

3. The conditions for obtaining funds are relatively low. Small and medium-sized enterprises have high loan risk, small demand and high management cost. When banks issue loans, they are generally required to provide sufficient mortgage collateral. Moreover, private lending generally has a lower threshold, which is obviously more suitable for small enterprises.

4. Effective use of funds. The term of bank loans generally appears in the form of fixed term, while private loans can be repaid immediately, which is suitable for small enterprises with high frequency of use.

In 2065438+01August, the reporter recently learned from relevant channels that due to the unusually strong demand in the private lending market, a considerable number of bank loans in coastal areas such as Jiangsu and Zhejiang did not really flow to users, but flowed to the private lending market with higher interest rates. Liu, Chairman of China Banking Regulatory Commission (CBRC), discussed this matter at a considerable length at the third quarter situation analysis meeting of CBRC held recently, and stressed that the relevant commercial banks should not ignore the requirement of entrusted payment in post-loan management, which eventually led to irregular flow of loan funds.

"Now, due to the strong demand for credit, they have turned to usury business, and a large part of the funds for lending come from banks, which are loans from banks to large enterprises. The cost is low in these coastal areas of Zhejiang. After the enterprise gets it, usury earns huge interest and spreads, which actually becomes a platform for the usury market to raise funds from banks. Some state-owned guarantee companies and finance companies also use the funds of state-owned banks to secretly lend usury, "Liu stressed at the meeting.

It is reported that Liu calculated at the situation analysis meeting in the third quarter that the scale of this part of the capital flow was "3 trillion", and said that all provinces in China, including Zhejiang, have launched investigations. Liu stressed at the meeting that from the inspection results of commercial banks' implementation of the new loan regulations of "three methods and one guide" in the first half of the year, the proportion of entrusted payment by some banks has reached the requirements of the CBRC, but some banks are still relatively weak in this respect. Liu said at the meeting: "The proportion of entrusted payment by some banks is far below our basic requirement of 80% this year, which has brought us a great burden." .

People in the guaranteed industry told reporters that in the eastern coastal areas where private lending is prevalent, the interest rate of capital lending can be as high as 3%-5% per month, and most of the demanders are small and medium-sized enterprises. "Large enterprises have relatively abundant funds, and there is not much room for project investment now. Some enterprises do have some money in their accounts; Small enterprises can't get loans, especially some small processing enterprises, and the funds are very tight. As far as we know, some guarantee companies are indeed doing some private lending, and the demand in the whole market is very large, "said a senior person in the guarantee industry.

This imbalance between supply and demand of funds has brought huge arbitrage space to the market. According to the reporter's understanding, even if the one-year benchmark interest rate rises 10% gets a loan from the bank, the capital cost of the enterprise is only about 7.2%. If you invest in the private lending market with a monthly interest rate of 3%-5% (converted into an annual interest rate of 36%-60%), its annual arbitrage space will reach 30%-50%. In contrast, this rate of return has been higher than the profit rate of the main business of a considerable number of enterprises.

For production enterprises, in the face of the macro environment that has not yet seen the dawn, the high borrowing cost of 20% is difficult to support. Once the production enterprise can't support it, it is difficult to realize the fixed assets, accounts receivable and inventory on those statements. According to the relevant regulations of the People's Bank of China, the risk of entrusted loans is borne by the entrusting party, that is to say, the risk of overdue repayment by the loan enterprise is borne by the entrusting company itself, and the bank has no obligation to repay the loans.

However, Cai Junyi, an analyst at Shanghai Securities, said that listed companies should look at entrusted loans and entrusted financial management from two aspects. Although there is a loan relationship, there is bound to be a risk of default. "However, in a bad macroeconomic environment, it is also very ... >; & gt

Question 3: Interest rate characteristics of private lending 1- Private lending refers to the financing behavior between natural persons, legal persons and other organizations.

2- Private lending is the accumulation of wealth owned by money owners. When monetary wealth changes from storage means to providing the market with the function of lending capital, as long as it is an interest-bearing loan, the interest rate reflects the price relationship of the transferred capital.

1) The interest rate of private lending is affected by the relationship between capital supply and demand. Specifically, the market demand for funds and the national industrial economic policy determine the level of bank interest rates; Second, the supply and demand of bank funds determines the credit interest rate, and also affects the supply and demand situation and interest rate in folk credit.

2) The interest rate of private lending is determined by market demand and industry profits, and it is set according to the level of industry profits, which is characterized by arbitrariness and prominent profit requirements.

3) The way of implementing interest rate by private lending depends entirely on the borrower's credit, and whether interest can be charged is not protected by law.

4) The purpose and direction of setting the interest rate of private lending has its inherent characteristics. Private lending is mainly to carve up surplus value and seek high profits. Interest rates reflect the profitability of different industries and the tightness of market capital supply and demand.

3- Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases Article 1: Private lending as mentioned in these Provisions refers to financing between natural persons, legal persons and other organizations.

Article 9 Under any of the following circumstances, it can be regarded as having the effective requirements for a loan contract between natural persons as stipulated in Article 210 of the Contract Law:

(1) Pay in cash from the date when the borrower receives the loan;

(2) If the payment is made by bank transfer, online electronic remittance or online loan platform, it shall start from the date when the funds reach the borrower's account;

(3) If the bill is delivered, it shall be from the date when the borrower obtains the bill right according to law;

(4) When the lender authorizes the borrower to control a specific fund account, the borrower obtains actual control over the account;

(5) The lender provides the loan in other ways agreed with the borrower and actually performs it.

Article 10 Except for the loan contract between natural persons, if the parties claim that the private loan contract will take effect upon the establishment of the contract, the people's court shall support it, unless otherwise agreed by the parties or stipulated by laws and administrative regulations.

Article 11 The people's court shall support the non-governmental loan contract concluded between legal persons or other organizations for the needs of production and operation, except under the circumstances stipulated in Article 52 of the Contract Law and Article 14 of these Provisions, if the parties claim that the non-governmental loan contract is valid.

Question 4: How to invest private capital? Why is this happening? Why don't private capital subjects want to enter the field of venture capital that is already beneficial to all countries? On this issue, we interviewed a large number of people from all walks of life, and they all spoke their minds in three words: Don't worry! Therefore, China's 6 trillion residents' savings still seldom invest in high-tech start-ups after repeated interest rate cuts, and a large number of insurance and pension funds have not yet started venture capital business. However, a number of venture capital companies or funds with * * * as the main investor have been established in various places, which are not only small in scale, but also excessively concentrated in the national finance because of the single source channel, which not only violates the efficiency principle of market operation, but also naturally cannot play a good demonstration role in the industrialization of high and new technologies. Some use loans instead of equity investment operating funds, which makes venture capital out of shape, and some violate the rules, causing undue mistakes and waste, and even tarnishing the reputation of venture capital. In addition, the legal environment for protecting investment is poor and there is no credit system, which makes private capital subjects more uneasy.

You can go to Mongolia Lianhua Investment Network, and they will give you detailed answers!

Question 5: 76 What model does private capital use to incite China economy? In fact, this can be written in three thick books, which can be summarized as follows: the characteristics of Wenzhou model, private capital is an active private economy. The characteristics of the southern Jiangsu model rely on state-owned enterprises to develop local areas. This is one of the reasons why Jiangsu's GDP exceeds that of Zhejiang and the average living standard of local residents is not as good as that of Zhejiang. The Pearl River Delta may be characterized by relying on cheap labor and low-cost technology to become a processing center. Now the industry has been upgraded twice.

Question 6: What does social capital mean? Social capital refers to the connection between individuals or groups ―― social network, reciprocal norms and the resulting trust, which is the resource brought by people's position in the social structure. Social capital is the first concept used by sociologists. Granovetter first conceptualized social capital, but the academic community has not yet formed a unified concept of what social capital is. Different scholars have made different definitions of the concept of social capital from their subject categories and research paradigms. To sum up, these concepts mainly form three research levels: micro, meso and macro.

Social capital (social capital)

According to the definition of Social Capital Initiative of the World Bank, social capital in a broad sense refers to the collective actions taken by * * * and civil society for the common interests of an organization, ranging from a family to a country.

As for the concept of "social capital", there is no universally accepted definition. From its basic connotation, social capital is a concept relative to economic capital and human capital. It refers to the state and characteristics of close contact between social subjects (including individuals, groups, society and even the country), and its manifestations include social network, norms, trust, authority, action consciousness and social morality. Social capital exists in the social structure and is intangible. It improves social efficiency and social integration through cooperation between people.

Micro-and meso-level social capital research mainly focuses on the relationship orientation characteristics of individual actors and the influence of their social status on the social capital they can obtain, or the structural characteristics of the social networks in which the actors are located and the influence of the interaction and restriction between the networks on the ability of individual social resources acquisition. Because social capital is included in social groups and social networks, individuals cannot directly possess and use it. Only by becoming a member of the network or establishing a network association can they get close to and use capital.

Social capital is the connection between people and exists in the structure of interpersonal relationships. Social capital, like material capital and human capital, is the connection between individuals and others in an organization, which can bring future benefits to others. Social capital is often aimed at an organization. The amount of his social capital in the organization reflects his interpersonal relationship with others in the organization. In the long run, the external indicators that can bring him extra benefits can be expressed as word of mouth, popularity, word of mouth and so on.

Macro-level social capital research mainly studies the influence of social capital stock on local economic growth from the perspective of regions or countries. At this level, social capital is a norm that members generally recognize and abide by for mutual benefit. Putnam's research on central and northern Italy found that these areas have a strong atmosphere of trust and cooperation. This rich social capital can coordinate people's actions, improve the investment income of material capital and human capital, and promote regional economic development. Fukuyama, a famous scholar, defines social capital as an informal norm to promote cooperation between two or more individuals. The social capital of an organization reflects the strength of the norms it abides by and the cohesion among its members, or the influence of the organization on its members. If an individual violates the norms of the organization, he will be punished and his social capital will be reduced; On the contrary, if he abides by the norms, his social capital will continue to increase. Some scholars have concluded that the status of social capital is determined by the trust of a society, the characteristics of code of conduct and the closeness of connecting networks.

Montgomery introduced the concept of social capital into the field of microfinance. He believes that the borrower's intentional breach of contract will harm the interests of other members of the group and the borrower's reputation and credibility in the surrounding communities, thus greatly reducing his personal social capital. If the borrower thinks that the loan amount is not enough to make up for the loss of social capital caused by breach of contract, then he will not deliberately not repay the loan. Besley and Kurt discussed the influence of joint liability on the borrower's repayment enthusiasm, and the group members exerted "peer pressure" on the group members who defaulted on their debts through their social capital. Chea Chang, a Chinese scholar, also put forward the idea of using community credit resources to improve the credit level of individual small and medium-sized enterprises, and then solve the financing problem of small and medium-sized enterprises.

It can be seen that the concept of social capital is of great significance for us to explore cluster financing ... >>

Question 7: What are the characteristics of folk credit compared with formal financial institutions? Private finance is relative to official finance. Official finance belongs to the formal financial system, that is, financial activities managed by China's financial supervision departments. Therefore, folk finance mainly refers to the financing activities of economic entities other than China's bank insurance system, securities market and rural credit cooperatives, and belongs to the category of informal finance (unobserved finance).

Specifically, private finance has the following meanings:

(1) From the perspective of the subjects of trading activities, the counterparties of trading are basically economic subjects who cannot obtain financing arrangements from the formal financial sector, such as farmers who borrow from each other, and entrepreneurial enterprises obtain venture capital. (2) The transaction object is a non-standardized contractual financial instrument that is not recognized by formal finance.

(3) Formal financial intermediaries have standardized institutions and fixed business premises, while private finance generally does not have these characteristics.

(4) Non-governmental finance is generally not within the supervision scope of financial supervision authorities.

Question 8: The characteristics and reasons of the development of folk industry in the early Ming and Qing Dynasties. 5 points (1) Features: ① Private handicrafts in textile, porcelain making and other industries surpass government-run handicrafts and occupy a leading position in handicraft production in the whole society. (2) The regional division of labor is becoming more and more obvious, and specialized handicraft towns have emerged. (3) The separation between agriculture and textile in handicraft industry has gradually appeared in some areas. (4) Handicraft production technology innovation, reaching a new level. ⑤ Capitalism is budding and developing slowly.

(2) Favorable factors: ① The handicraft industry is large in scale and quantity. ② Sufficient labor force. ③ 65438+A national unified market has been formed at the beginning of the 9th century.

(3) Reasons: ① The development of heavy industry is slow. ② China did not attach importance to the development and utilization of mineral energy. (3) China's traditional Confucianism and imperial examination system are difficult to cultivate outstanding scientific and technological talents. (4) During the Ming and Qing Dynasties, the "sea ban" and the closed-door policy as well as the policy of emphasizing agriculture and restraining business hindered the development of overseas markets, inhibited the primitive accumulation of capital, and hindered the growth of capitalist seeds ~