There is only one problem, to solve the problem of fundraising and redemption of Huaiqing Credit Investment Company, but all this has to start with the cleanup of the cooperation foundation.

The 1998-year-old rural cooperation foundation has experienced a not-so-easy twists and turns in the entire Anyuan Province. Relatively speaking, Ningling has stepped on the brakes earlier due to some problems during the early operation of the Alloy Association. It has stopped two years before the central policy was implemented. The alloy will continue to absorb stocks and take measures to clear out year by year. After the central policy was implemented in 1998, the liquidation work has actually come to an end, so it has not caused much shock.

However, the situation in Huaiqing is different. The alloy associations in each county under Huaiqing have developed to its peak in 1997. Although the province repeatedly demanded the standardization of the management and operation of the alloy association, Huaiqing's alloy associations are still developing in full swing under the stimulation of interests. Until the central government's major policies were introduced in 1998, everything came to an abrupt end.

Alloy clubs in various counties, districts and townships under Huaiqing are scattered. Almost every township has its own rural cooperation foundation. Even some village-level organizations have established alloy clubs. The business history has been around for about ten years, with large and small scales and different operating conditions. The places where there are more township enterprises are relatively large, while those with fewer enterprises are smaller. However, one thing is basically the same, that is, the operating conditions are poor, and it has lost the meaning of rural cooperation and mutual assistance, and has developed into a quasi-financial organization with the main business of attracting deposits and lending to make profits. Most of the lending targets are mainly township enterprises.

As soon as the central government’s policy on cleaning up the cooperation foundation was introduced, it immediately triggered a storm. The cooperation foundation has only two paths to go. It is in good condition and can meet the needs of the alloys merged into rural credit cooperatives and merged into local rural credit cooperatives. If the conditions are slightly worse, the county and township governments will make up for the vacancies and help merge them into credit cooperatives. If the conditions are too bad, the government will take over the liquidation, and the government will be responsible for repaying the debt and cashing out the fundraising.

This storm immediately penetrated all districts and counties under Huaiqing City, whose financial situation was still unsatisfactory, into the abyss of hell. There were very few alloys that could meet the conditions for merged into a credit union with their own capital. Most of them needed to spend a sum of funds at the county and township levels to help merge the alloy union into the credit union, or the government directly took over the alloy monetary associations to liquidate installments and cash out the farmers' shares.

The township-level finance is originally unable to make ends meet and cannot afford such money. All the pressure is concentrated on the county-level government, and the county-level government cannot afford such a large amount of funds. It can only solve the problem by applying for special loans from the provincial finance and borrowing from the municipal finance.

Huaiqing City Finance provided nearly 200 million yuan in loans to all counties and cities for this purpose, which did not include the special loans of up to 300 million yuan that each county borrowed from the provincial finance.

However, this is not something that Zhao Guodong needs to pay attention to. It was all about last year. Now Chen Yinglu and He Zhaocheng need to discuss with Zhao Guodong about the issue of Huaiqing Credit Investment Company.

With the storm of comprehensive cleaning of rural non-financial institutions such as cooperative foundations, it inevitably affected some other non-financial institutions. Huaiqing Credit Investment Company gradually surfaced under such circumstances. This is a real time bomb. If it is not eliminated in time, it may trigger an unexpected social crisis.

"This means that the cleaning and rectification of this credit investment company has come to an end, and the next step we should do is to find a way to clear the debts and cash to raise funds to repay the fundraising?" Zhao Guodong frowned while listening to the Finance Director Gu Xiaopeng who came in later introduced the situation of the credit investment company.

Although he also went to the Municipal Finance Bureau for investigation a year ago, it did not involve the credit investment company. Obviously, the members of the Finance Bureau did not think that this was a problem with the Finance Bureau, but a problem with the entire Huaiqing Municipal Party Committee and Municipal Government. Although it was under the name of the Municipal Finance Bureau, the initial launch of this credit investment company was proposed by the Municipal Party Committee Finance and Trade Office, and the Municipal Finance Bureau was the leader. The actual specific handling personnel also come from various departments, not the Finance Bureau.

"Well, when the central government issued a policy rectification and merger last year, the city felt that there might be problems with this credit investment company, so it planned to clean up the credit investment company. Unexpectedly, after this investigation, it was quite large and there were many problems."

Gu Xiaopeng was also the deputy director of the Municipal Finance Bureau at that time. It was because he was sitting on the bench that the credit investment company was not his turn to get into the fishy smell, so he avoided being involved. After an investigation, the credit investment company found a big hole. In addition, the former director involved in the incident involving Gu Yaohua, although he finally avoided being in prison, he had to step down in disgrace.

"This is inevitable. The essence of this so-called credit investment company is similar to that of rural cooperative foundations, that is, the scale is somewhat different from the fundraising targets and lending targets. In a word, an investment company that lacks professional financial management personnel and supervision mechanisms and is easily influenced by administrative power will have a lot of bad debts that cannot be collected, and its situation may be worse than some alloys."

Of course, Zhao Guodong knew that such credit companies that sell dog meat under the guise of sheep have become largely cash machines under the intervention of some leaders' administrative power. They lend to whoever they want. Risk awareness, mortgage property rights, etc. are all put aside before the leaders' speeches. There is a lack of supervision and review mechanisms, and the risk is superimposed, plus high interest on fundraising or stock money, the hole will only become bigger and bigger. In the end, they will only have to tear down the east wall and repair the west wall. If they really can't hold on, they will only have a collapse. The government finance will pay for it.

"Guodong is right. I had objections to the purpose of the credit investment company's business at the beginning, but the main leaders at that time ignored it, which led to such a big hole. They spent money and spent money, but they had to let our Party Committee and government bear it."

He Zhaocheng also hated this credit investment company. This credit investment company has completely insolvent, and its liabilities and assets are offset, with a deficit of nearly 100 million yuan, which is enough to cause the city's finances to be greatly damaged.

"Now the assets and debts have been basically settled. We have sorted out the preliminary work. It is estimated that the ones that are sure or hopeful to recover are about 60 million, while those that have become completely dead accounts are about 80 million, and there are still about 40 million, which is more difficult, but if you have various efforts, there is a possibility of recovery." Gu Xiaopeng said to himself.

"According to the promises of our city to fund-raising households last year, we will come up with a handling opinion within one year of closing the credit investment company. The credit investment company was closed with the Rural Cooperation Foundation at the end of June last year. At that time, the city's main energy was mainly to help the merger of rural cooperation foundations, concentrate on helping all districts and counties complete the merger tasks and fail to merge the first round of payment of funds from the Alloys that were taken over by the government. Therefore, we only actively investigate and verify the situation of the credit investment company's problems, and have not yet come up with a handling opinion. My opinion is still based on the liquidation method of the alloy association. After the liquidation and capital verification is over, we must issue resolution opinions as soon as possible, try every means to clear the debt and monetize the money, and raise redemption funds."

"Director Gu, how to cash it out? Is it the liquidation alloys that will be liquidated in three to five years?" Zhao Guodong asked back.

"Mayor Zhao, if that's not the case, how can our city's finances come up so much at once? Last year, for the merger of the alloy clubs and redemption of the alloy clubs in each county and district, our city's finances were emptied. Now it's our turn to bleed ourselves. In addition, the city also has to consider the preparations for the second round of redemption funds for some districts and counties with poor finances to prevent them from temporarily turning around and causing problems and affecting social stability. This year's finances are probably the most difficult year. Secretary Chen, Mayor He, Mayor Zhao, you leaders are all here. I put the ugly words in front first and have to prepare in advance. Otherwise, if you can't raise money temporarily, there will be problems." Gu Xiaopeng stared at the three of them and said in a deep voice.

Chen Yinglu and He Zhao couldn't help but sigh, and they were really lucky.

Gu Yaohua messed up the Huaiqing officialdom. Just straightening out this relationship is enough for the two of them to be worried. They just met the Central Cleanup and Rectification of the Alloy Association. Huaiqing is the largest area in the development of the Alloy Association. It was suddenly discounted and took out funds. Not only is the township and enterprises now in trouble, but the county and township governments are also carrying huge debts. After preliminary estimates, it is impossible to get rid of the huge holes brought by the cleaning of the alloys in less than five years. In the past five years, all counties and districts in Huaiqing have to tighten their belts and live a hard life, and Huaiqing City is not easy. In addition to helping to paste the holes in each county and district, there is also a big abscess like a credit investment company on his butt. If he wants to squeeze the abscess clean, he will probably have a heavy bleeding.
Chapter completed!