英语本科毕业论文_Toilandtrouble原文.doc

英语本科毕业论文:Toilandtrouble原文 SmallandmediumChineseenterprises(SMEs)struggledlastyear.SincelastApril,theChinaFederationofLogisticsandPurchasingssmallenterprisesub-indexhasremainedbelow50,indicatingaslowerrateofgrowth.Localgovernmentshaveannouncedavarietyofpoliciestosupportsmallbusinesses,includingSME-specificfunds,governmentpurchasing,fastercustomerclearance,export-taxrebatesandfurthercutsinadministrativefees. Yetitsstillunclearhowmuchthesepolicieshavehelpedenterprises.ChinaEconomicReviewtalkedtosixpeopleinvolvedinsmallbusinessinChinatogaugehowSMEshavefaredandwhattheirexpectationsareforthecomingyear. MszhangHong,whosefamilyrunsaprivatecompanyinShanghaithatsuppliessteelproductstoelevatormakers Businesswasmuchworsein2012than2011.WeusedtomakegrossprofitofRMB2,000(US$319.8)oneverytonofsteelsold,butnowitslessthanRMB500(US$80)perton.Also,customersnowtypicallytakethreemonthstopayus,comparedwithonemonthbefore.Thedropinthepriceofsteeldidntaffectusmuch,butcompanieswithlargeinventorieswerehithard.Alotofcompanieshavegonebankrupt.Thepressurewefaceisthatthenumberofcompetitorshasincreasedsignificantly,resultinginpricecutsandlowerprofitmargins.Ourclientsarealsorecordingverylowprofitmar-gins,despitedemandfromgovernmentbackedaffordablehousingprojects. Thesituationwillonlyworsenthisyear.Weexpecttoseefewornoprofits,becausethenumberofcompetitorscontinuestoincreaseandclientshavebeguntoasksupplierstobidforcontractstofurtherreducecosts,ratherthanplacingorderswitholdsuppliersdirectly.Weareconsideringendingalong-timepartnershipwithamajorclienttolookfornewinvestmentopportunitiesandclients.Thiswontbeeasy. Idontknowwhatkindofsupportivepoliciesthegovernmenthasintroduced,butIdontexpectthemtobehelpful.Steelcompaniescantgetbankloansingeneral,andcompanieslikeus,investmentcompaniesbynature,havetouseourhomesascollateral.Weusedtoraisecapitalamongfriendsbypayinghigherinterestrateswhenbusinesswasgood,butnowwehavetorelyonourowncapitalwhenweinvestinnewbusinessprospects.MrKongQingtai,vicedirectoroftheChinaAssociationforSmall&MediumCommercialEnterprises Generallyspeaking,thesituationwasgrimforSMEslastyearandwillbeevengrimmerthisyear.Smallbusinessesfacemanyproblems,amajoronebeingthedifficultyofsecuringfinancing.Bankloansarenotonlyhardtoget,theyhavebecomeunbearablyexpensiveduetoallsortsofotherfees.Banklendingratesareonlyalittlelowerthanratesofferedbyloansharks,andthesituationisprettymuchthesamewithotherfinancingchannels.Thesecapitalshortagesnaturallycausebusinessestocontract.SMEsareeithershuttingdownorcuttingproduction,runninghalf-daysorless. WellestablishedSMEsthatmakehigh-techproducts,orthosewithadvantagesinscale,technologyormarketshare,haveperformedbetter.Banksarelookingforthesekindsofcompaniestoissuetheirloansto.Butrecentlylaunchedhigh-techstartupsarestruggling.Export-orientedSMEsalsosawtheirordersshrinksignificantlylastyear.Idontthinkthesituationwillimproveinthefirsthalfof2013.Theorderstheyreceivedfortheperiodweredownmorethan30%year-on-year,bymyestimates. ThegovernmenthasintroducedpoliciestosupportSMEs,butsofartheyarejustdocuments.Theyexistonpaperbutnotinpractice.Implementingthemwillbealongprocess,andtheywontbeimmediatelyeffectiveorhelpful. MrxiaoFeng,vicegeneralmanagerofAlibabaGroupsubsidiaryShenzhenOneTouchEnterpriseService,whichprovidescustomsclearance,shipping,insuranceandfinancingservicestosmallandmediumexporters OurbusinesshasexpandedquicklyinrecentyearsasSMEshavetriedtoreducecostswiththeeconomicslowdown.Smallforeigntradecompanieshadandwillcontinuetohaveadifficulttime.Thereasonexportsareindistressisnotdemandorproducts.Companyownerstellmethatdemandisstillthere,buttheyfindprofitstoolowtotakeorders.Companiesinlabor-intensiveindustries,suchasapparel,areinthetoughestsituation,whilethoseinmachineryandfurniturearedoingbetter. Theobstaclestheyfacearebecomingmoreandmoreobvious.SMEshavepoweredChinasgrowthinthepast30yearsbuthadnofinancialleverageatall.Theircostshavedoubledyettheycangetbarelygetloans.SMEsarelefttotheirowndevices.Howcantheygrow?Theyarestrugglingonforanetprofitof1%,yeteventhattinyreturnisdisappearing.AnthonyZhang,aZheshangSecuritiesemployeewhohashelpedsomemedicalequipmentproducerslistdomestically Medicalequipmentcompaniesperformedworselastyear,duetoboththeslowingeconomyandgovernmentantigraftmeasures.Manypeopleinthemedicalprofessionwerearrestedfortakingkickbackslastyear.Doctorsandhospitalexecutivesarescared,sotheyvestoppedtakingkickbacksforthemomentanddelayedpurchasesofmedicalequipmentuntilthisyearandnextyear.Sosalesaremoredifficult. Companiesinthesectorreceivedalotofdevelopmentsubsidiesfromthegovernment,withoutwhichtheymightberunningatlosses.Governmentpurchasingwasalsoveryhelpful,andthegovernmentisapprovingresearchprojectsandgrantsandprocessingpermitsfasterthanforothersectors.Bankloansarealsoeasytogetifcompaniescanofferlandorfactoriesascollateral.Withoutcollateral,gettingloansisasdifficultasforothersectors Themacroenvironmentlastyearwasnobetterthanin2008,andSMEsingeneralperformedpoorly.Heavytaxeswereamajorproblem.FewcompaniesintheWestcanachieveagrossprofitmarginof20%,butinChina,halfofourcompaniescantevensurvivewithamarginof40-50%.Theyneedtohavemargins70-80%soasnottosufferlossesaftertaxes.Rightnow,businesstax,value-addedtaxandincometaxaccountforaround40%ofacompanysrevenueonaverage,whichencouragesmanyprivatefirmstododgetaxes. Industryexpertshavebeencallingfortaxcuts,butimplementingthatwillbedifficult.Cuttingtaxeswouldmeanadecreaseingovernmentrevenueandthereforeadecreaseinwhattheycando.SincetheChinesegovernmentwantstotakechargeofeverythingfromwhatpeopleeattowheretheygototoilet,itwillbedifficultforbigchangestohappen.Ifsignificanttaxcutsdocome,thatwillhelprevivealotofSMEs. MsLindaWang,anofficerinthecorporatebankingdivisionofaforeignbank TheChinaBankingRegulatoryCommissionrequiresbankstokeepthegrowthrateofloansforsmallandmicrobusinessesonparwiththatforlargeenterprises.Ifbanksworkhardtoapproachthosesmallcompanies,theycanachievethisgoal.Withinthebankingindustry,weallknowtheimplicitruleisthatifyourcompanyisperformingwell,manybankswillapproachyoutolendyoumoney.SoIdontthinkthatlimitedfundingisthemainissueforSMEs.Manyofthesecompaniesarerifewithmanagementproblems.Myteamworksprimarilywithpropertydevelopers.Weusuallyonlylendtolargepropertycompaniesandtrytoavoidmid-sizedpropertyfirms,duetoconcernsthatgovernmentrestrictionsonhousepurchasesmaykeepsmallercompaniesfromsellingtheirdevelopments.Rightnowwemostlyprovidehousingdevelopmentloansandmortgagesafterassessingthelocationofthedevelopmentandthecompanysscaleandassets.Wenolongerofferunsecuredloans.Smallcompaniesshouldnotbothertoapplyforunsecuredloans,sincetheywontbeapprovedanyway. MrChaLi,founderofiStartVentures,anearly-stageinvestmentfundforstartups Thetwoprimaryconstraintsontheprivatesectorarerestrictivegovernmentregulationsandamarketthatisdominatedbylargeenterprises.ThecapitalmarketisntopenandSMEsare“strugglingtosurviveinacrevice,”asthesayinggoes.SMEsintheservicesec