Seriously surplus industries, new projects, banks do not borrow half a cent

The pace at which banks have resolved excess capacity is accelerating. Yesterday, the Chairman of the China Banking Regulatory Commission, Shang Fulin, stressed that it is an important task of current economic and financial work to attend the “Banking Industry Overcapacity and Practice Green Credit Conference”. He stressed that it is strictly forbidden to provide any form of new credit support for new capacity projects in industries with severe overcapacity; for the national industrial policies and industry standards, it is a reasonable credit for technological transformation and upgrading, product structure adjustment, and optimization of industrial space layout projects. Demand can further increase credit supply.

Strengthen credit management in surplus industries

At the beginning of October this year, the State Council issued the "Guiding Opinions on Resolving the Contradictions of Severe Overcapacity", demanding the implementation of financial policies with safeguards. Implement targeted credit guidance policies for industries with severe overcapacity to strengthen and improve credit management. Construction projects that have not obtained legal procedures shall not be allowed to lend, issue bonds or go public.

According to reports, ICBC has implemented industry quota management for key overcapacity industries such as steel, and clarified the management objectives of the annual new financing limit for the industry's overcapacity industries. The scope of quota management covers all-caliber financing types, including not only loan business, but also off-balance-sheet business such as banknotes, inclusions, letters of credit, and financial asset services such as financial investment involving financing customers.

ABC will also implement a differentiated credit policy for overcapacity industries under the premise of strictly controlling the total amount of loans. In the next three years, ABC will ensure that the growth rate of 15 “two high and one surplus” industry loans is lower than the average growth rate of corporate loans, and the proportion of loans continues to decline. The balance of loans and the proportion of five industries with severe overcapacity such as steel, cement, electrolytic aluminum, flat glass and shipbuilding maintained a “double drop”.

In addition, Everbright Bank determined that from 2013 to 2016, it will reduce the proportion of credit granted by companies with strong cyclical industries to less than 50%. Among them, the company's credit capacity in industries with severe overcapacity is controlled within 10%; at the same time, major overcapacity industries such as steel, cement manufacturing, flat glass, electrolytic aluminum, shipbuilding, construction machinery, photovoltaic, coking, papermaking, etc., as well as local government financing platforms Sensitive industries such as real estate are uniformly included in the mandatory quota management, setting the upper limit of the total amount of credits inside and outside the industry on a yearly basis, and no breakthrough at any time.

Support merger and reorganization to integrate production capacity

The relevant person in charge of China Everbright Bank said that the recent work of the country to resolve the contradiction of overcapacity is not only focused on the elimination of backward production capacity and the control of total production capacity, but on the combination of good incremental and revitalized stocks to develop market demand and The combination of industrial transformation and upgrading. In the process, banks will have many new opportunities in the restructuring, integration, transformation and transformation of technology, technology reform, transfer of production capacity overseas, and the development of new market demand.

The relative excess capacity industry is one of the important areas. At present, there are still many regions in China that are still in the initial stage of urbanization and the initial stage of industrialization. Although the production capacity in some areas is excessive in terms of numbers, in reality, this surplus is relative.

Shang Fulin clearly stated that it should support the credit demand of over-capacity in the areas of enterprise procurement, household consumption, new rural construction, and seismic strengthening of buildings; support the promotion and application of steel structures in the construction field; support steel, cement aluminum profiles, flat glass, etc. Building materials to the countryside; support the elimination of old and old transport ships; support the promotion of green building materials projects, promote the use of high-strength steel, high-grade cement, high-performance concrete, low-radiation insulating glass and other materials that meet the national technical standards; support the development of marine equipment in the ocean Demand potential in areas such as engineering, fisheries, administrative enforcement, and emergency rescue.

Shang Fulin also said that for the backward technology production capacity, it is also possible to build a group of enterprise groups with complete industrial chain and strong core competitiveness through mergers and acquisitions; support the development of M&A loan business in accordance with the principle of commercial sustainability, and reasonably determine the interest rate of M&A loans and the term of M&A loans. It can be extended to 7 years; encourage the use of syndicated loans, reasonably diversify credit risks, increase support for mergers and acquisitions; encourage the use of trust plans, entrusted loans, etc. to expand the source of mergers and acquisitions.

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