Wenzhou's small firms still struggle to obtain loans

 BEIJING, July 6 (Xinhua) -- Medium- and small-sized enterprises in Wenzhou are finding bank loans increasingly hard to obtain as the city's banks face a rising non-performing loan (NPL) ratio.

The NPL ratio of the banking¹ industry in the east China city has risen for 11 straight months to reach 2.43 percent by the end of May, much higher than the country's average level of 0.9 percent by the end of the first quarter, statistics from the financial office of Wenzhou city showed.

With the NPL ratio on the rise due to the city's private lending crisis and banks' tightening² credit control, medium- and small-sized firms are finding it increasingly difficult to get loans, according to a report by Friday's China Securities Journal.

The report said the damaged credibility caused by the debt crisis last year had made banks ever more cautious to extend loans, citing an anonymous³ employee in a guarantee agency.

Wenzhou, famous for its private businesses, was hit by a debt crisis last year after some 100 managers or heads of private companies were reported to have disappeared, committed suicide or declared bankruptcy⁴ for failing to repay the crippling debt in the underground financing market.

The crisis has prompted the government to set up a pilot zone there to regulate private financing activities.

As part of the pilot scheme, a private lending registration⁵ service center was inaugurated in Wenzhou in late April to serve as an intermediary between borrowers and lenders in an attempt to standardize⁶ private lending in the city.

As of the end of May, the center had seen 16 transactions done, with an average annual rate of 21.7 percent.

Analysts⁷ said the newly-found center could not significantly ease financing pressures for the medium- and small-sized firms due to the city's relatively⁸ low transaction volumes and high borrowing costs.

1 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

2 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。

3 anonymous   

adj.无名的；匿名的；无特色的

参考例句：

• Sending anonymous letters is a cowardly act.寄匿名信是懦夫的行为。
• The author wishes to remain anonymous.作者希望姓名不公开。

4 bankruptcy   

n.破产；无偿付能力

参考例句：

• You will have to pull in if you want to escape bankruptcy.如果你想避免破产，就必须节省开支。
• His firm is just on thin ice of bankruptcy.他的商号正面临破产的危险。

5 registration   

n.登记，注册，挂号

参考例句：

• Marriage without registration is not recognized by law.法律不承认未登记的婚姻。
• What's your registration number?你挂的是几号？

6 standardize   

v.使符合标准，使标准化

参考例句：

• We will extend and standardize legal services and provide effective legal aid.拓展和规范法律服务，积极开展法律援助。
• There is a drive both to standardise components and to reduce the number of models on offer.正在为实现零部件标准化和减少推出的型号数量而努力。

7 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

8 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。